Tax Insights with Hawkins Ash CPAs

As of the end of April 2020, there were 23 million Americans who are out of work and most of them are applying for unemployment. If you are receiving benefits, here are some things to look out for in regard to taxes.

Although final guidance has not yet been issued, we are continuing to learn a lot more about the loan forgiveness aspects of the Paycheck Protection Program (PPP). Here is what we know as of May 5, 2020.

One of the welcome corrections from the Coronavirus Aid, Relief, and Economic Security (CARES) Act was the return of the 15-year depreciation on Qualified Improvement Property. Here is what we know as of April 28, 2020.

Learn the basics of the new Employee Retention Credit, including how it is calculated, which wages qualify, how businesses can expect to receive their credit and more. Here is what we know as of April 21, 2020.

Find out more about the new Economic Impact Payment in this overview: Who is and is not eligible to receive it, how much you might be able to expect to receive and when. Here is what we know as of April 14, 2020.

The Economic Injury Disaster Loan (EIDL) is a low-interest federal loan to help small businesses and private nonprofits that are experiencing hardships because of COVID-19. Here is what we know as of April 7, 2020.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act's new Paycheck Protection Program (PPP) is one relief option for businesses with less than 500 employees. Here is what we know as of April 1, 2020.

We fully understand the impact the next several weeks will have on your business. We are monitoring legislation and will provide insights with you as developments occur. This podcast covers federal and state tax extensions and paid leave guidance.

At Hawkins Ash CPAs, we will continue to monitor the news and official government directives and make changes to policies based upon facts as they arise. This podcast addresses some of the legislative updates as of March 18, 2020.

What exactly is "virtual currency" and how has the IRS become more involved throughout the years? This podcast not only provides an overview of the cryptocurrency trend, but also explains why it is essential to report gain or loss on these kinds of electronic transactions.

When a business is small, it may make sense to be a sole proprietor. But as the business grows, you may get some significant tax savings by changing the entity to an S corporation. Listen in to learn more.

Business owners pay two levels of tax: The income tax and the self-employment tax. In this podcast, find out more about the self-employment tax, as well as some options that might help to reduce the amount of self-employment tax paid.

Are you a small business owner with a home office? This podcast addresses some of the most commonly asked questions regarding home expenses that are incurred because of your business—and tax deductions that might help to offset them.

Whether you’re downsizing, upsizing or retiring, there comes a point in time or age that you have to sell your home. But how do taxes work with the sale of your principal residence? This podcast outlines some of the key points, including gains and tax liability.

Do you have a plan for retirement? Whether you are a married couple or single, find out more about the Saver's Credit and the possibility of helping you set aside extra dollars for the years ahead.

From extensions for individual and business expenses—including the Work Opportunity Tax Credit—to a change in the kiddie tax, catch up on some of the latest laws and updates.

What happens to 401(k)s and IRAs after someone passes away? The SECURE Act outlines some new distribution rules that might affect you.

Signed in December 2019, the SECURE Act made a number of changes to 401(k) plans, to Individual Retirement Accounts (IRAs) and to help smaller employers set up their own plans.

Did know the IRS will offset some of the costs by giving people a tax credit? For adoptions finalized in 2019, the new parent can claim a credit of around up to $14,000 per child. In this podcast, we cover how this credit can financially aid in the adoption process.

It’s crazy, but we are at the end of the year. When you think back at the resolutions you made at the beginning of the year, how many did you accomplish? What are your 2020 resolutions? Today I want to talk about things that you may want to add to your 2020 list.

As the cost of day care continues to increase, did you know that there is an IRS credit that may be able to offset some of the expense? It’s called the Child and Dependent Care Credit. Learn more in this podcast episode.

In this day in age, it’s hard to go a day to not see someone who is selling a product for some type of multi-level marketing company, or what we call MLM. Being part of a MLM can bring some interesting tax misconceptions.

Education tax credits can offset some of the costs for college expenses. There are two main credits – the American Opportunity Credit and the Lifetime Learning Credit.

Education tax credits can offset some of the costs for college expenses. There are two main credits – the American Opportunity Credit and the Lifetime Learning Credit.

Education tax credits can offset some of the costs for college expenses. There are two main credits – the American Opportunity Credit and the Lifetime Learning Credit.