Ghalia Nelson is among 2022 OSCPA Trailblazers!
Navigating the CARES Act and SBA Paycheck Protection Program for Small Businesses On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). CARES provides an additional $349 billion in funding for SBA grant and loan programs. The information below summarizes the various federal governmental loans and/or grants that are or will be available to any businesses in the US with under 500 employees. The types of aid available through the U.S. Small Business Administration ("SBA") are the following: Economic Injury Disaster Loan ("EIDL"); Paycheck Protection Program ("PPP"), which is a new type of small business loan under 7(a) of the Small Business Act that works best for taxpayers with higher payroll, especially if they will use the proceeds to fund "Payroll Costs" (as defined below) over the eight (8) weeks following the date the PPP is made; and SBA Express Loans ("Express Loan").
In order to try to prevent refund fraud, the IRS has change the deadline for the filing of 1099 MISC to 1/31/2017. That is at least a full month earlier than prior years.
2017 tax filing season begins Jan. 23, Returns due April 18
Jon was selected as a 2017 OSCPA Trailblazer.
Tweet On April 14, President Barack Obama signed legislation repealing the expanded 1099 reporting requirements that were enacted last year. The bill was overwhelmingly approved by the House and Senate. The AICPA had advocated strongly for repeal of both provisions and as one of the only organizations advocating against the rental property requirement was a
Tweet One of the biggest tax deductions a business owner can get is to make contributions to a retirement plan. With the proper plan setup you could contribute up to $49,000 to your retirement plan in 2011 which reduces your taxable income by that amount and if your in the highest tax brackets, that is
Tweet Effective this year all Oklahoma corporations, sole proprietorships, partnerships, and LLC's must file an Oklahoma Business Activity Tax Return. These returns are due to the Oklahoma Tax Commission by September 15, 2011. If you need your Business Activity Tax Return completed, please contact us today. Tweet
Tweet September 15 and October 15 are drop dead dates for getting your returns filed if they are on an extension. September 15th is the deadline if you have a corporate, LLC or partnership return that was extended earlier in the year. It is very costly to file S-corp and/or partnership returns late, the penalty
Tweet 2011 Tax Organizers from Muret CPA are now available for download on www.muretcpa.com, they are located under about us, downloads, or click here. Muret CPA, PLLC is a full service accounting firm providing tax preparation and planning, financial audits and assurance services, business consulting and more. With offices in Tulsa and Oklahoma City, we
Tweet Today, January 17, 2012, is the first day that you can efile your 2011 tax returns. Call us today to schedule your appointment to get your return prepared. With offices in Tulsa and Oklahoma City, Muret CPA prepares tax returns for Individuals, Corporations, LLC's, Trusts and other entities. Our CPA professionals have many years experience
Tweet You went into business to do that business, not spend time working on payroll. Of course, the time it takes to do payroll is necessary, but wouldn't it be better if you could focus on your company and let someone else do the payroll? Watch our video on payroll processing, Click Here! When you
Tweet As 2012 draws to a close, there is still time to reduce your 2012 tax bill and plan ahead for 2013, highlights several potential tax-saving opportunities for business Deferring Income to 2013 Deferring income to the next taxable year is a time-honored year-end plan. If you expect your AGI to be higher in 2012
Tweet Congress agreed to leave a little more money in your pocket and less in the government's. Earlier this year in February 22, 2012, President Obama signed into law an extension of the payroll tax cut. As of March 1, 2012, and extending through December 31, 2012, your FICA payroll taxes will continue to be
Tweet As 2012 draws to a close, there is still time to reduce your 2012 tax bill and plan ahead for 2013. Review of just a few of the potential tax-saving opportunities for you to consider As a general reminder, there are several ways in which you can file an income tax return: married filing
Tweet Today we continue our series on year-end tax planning with a focus on the estate and gift tax perspective. Below, we discuss making gifts to children and grandchildren during 2012 and 2013 without incurring any gift tax. Many of these techniques also will reduce your overall income tax burden. Paul Muret was honored to
Tweet Tulsa is known and recognized for the long standing generosity and active charitable giving throughout the year with December as the most visible and active time of year. In fact, Philanthropy.com has indexed cities throughout the US and Oklahoma has proudly demonstrated a consistent and generous philanthropic commitment and specifically one Tulsa zip code
Tweet Estate planners tell us that nearly 70% of Americans die without a will. It's important to realize that a will is a gift you leave your family or loved ones. It is a gift because it makes the management of your estate very clear and light-years easier. If you don't have a will, the state will decide
December 18, 2012 By Sheckenkemper in Blog // 0 Comment Tweet This week I will be sharing several posts related to Health Care and specifically focusing on the Health Care Reform Act and what it means to you from a tax & accounting perspective. In light of the enactment of new taxes on the investment income and wages of highly compensated employees to pay for
Tweet As you know, beginning in 2014, the Patient Protection and Affordable Care Act as amended by the Health Care and Education Reconciliation Act of 2010 and other laws, collectively the Affordable Care Act, requires individuals to pay a penalty if they do not obtain health insurance that is "minimum essential coverage" for themselves and
Tweet Are you considering whether to incorporate your sole-proprietorship and provide health insurance to your employees and you have questions concerning the deductibility of health benefits? In general, amounts received by an employee for personal injuries or sickness through accident and health insurance are taxable if those amounts are paid by the employer or are attributable to employer contributions not included in the employee's gross income.
Tweet The beginning of the new year often brings a rush of new business start-ups, along with that accounting and tax questions are often some of the most confusing for new business owners. This is the first in a series of common questions and guides for any new start-up. You are welcome to share this
Tweet Whether you're looking to select an accounting method for a new business or reviewing your options for an existing business, the accounting method you choose to report your income and expenses affects more than just your tax return. In fact, the term "accounting method" not only includes the overall method of accounting you use
Tweet Whether you're looking to select an accounting method for a new business or reviewing your options for an existing business, the accounting method you choose to report your income and expenses affects more than just your tax return. In fact, the term "accounting method" not only includes the overall method of accounting you use
Tweet Are your partnership days numbered? For many new start-ups, shifting partnerships are quite common. How and when you or one or more or your partners choose to end the relationship can have distinctly different tax consequences. Before you sign an agreement, consider the following: Distribution of interest. Classification and taxing varies, depending on the amount
Tweet SPECIAL REPORT President Signs Eleventh-Hour Agreement To Avert Fiscal Cliff The 2012 American Taxpayer Relief Act answers many questions and raises others, this is a comprehensive and complicated bill. This post is Part 1 of 3 this week as we take a closer look at a few of the key points in this
Tweet SPECIAL REPORT President Signs Eleventh-Hour Agreement To Avert Fiscal Cliff The 2012 American Taxpayer Relief Act answers many questions and raises others, this is a comprehensive and complicated bill. This post is Part 2 of 3 this week as we take a closer look at a few of the key points in this
Tweet SPECIAL REPORT President Signs Eleventh-Hour Agreement To Avert Fiscal Cliff The 2012 American Taxpayer Relief Act answers many questions and raises others, this is a comprehensive and complicated bill. This post is Part 3 of 3 this week as we take a closer look at a few of the key points in this
Tweet Filing your taxes isn't just a once-a-year endeavor. Maintaining good records throughout the year and disposing of old ones when appropriate - not only provides you with greater confidence now when you prepare your tax return, but it also provides you with documentation you may need down the road. Lucky number six. One of the
Tweet As you may know, the health care reform legislation increases the employee portion of the Medicare component of FICA taxes for wages received after December 31, 2012, by an additional 0.9% of FICA wages in excess of certain threshold amounts, based on the employee's tax filing status. This tax is referred to as the
Tweet Understand your Company's federal employment tax withholding obligations. Employees Subject to Tax In general, an employer is required to withhold Social Security and income taxes with respect to each wage payment that the employer makes to an employee. The employer must also make Social Security and unemployment tax payments with respect to wages paid
Tweet Many families have gone to great lengths to interview, select and train a domestic employee but are then left wondering just what tax and accounting requirements are required next. They simply do not understand the Social Security tax rules for employers of domestic workers, the "Nanny Tax." We will explain what your obligations are
Tweet As a Tulsa CPA, we assist individuals in taking all possible tax deductions in order to lessen their tax burden. Additionally, we can help you with your estate and retirement planning and complex closely held business transitions, acquisitions, or divestitures. Individual services that we provide include, but are not limited to the following.
Tweet Paul Muret's credential just may surprise you. I had the great pleasure to do a little research on Paul in preparation for this article and there's nothing like talking with clients, friends and family to give you a perspective on the man that built MURET CPA, PLLC. Let's start with what you are
Tweet We assist small business owners in today's complicated world of tax, payroll and banking requirements. Business services that we provide include, but are not limited to the following. Be sure to see our Tax Organizers available on our website. Also, if you have any questions or need something not listed, please contact us to
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