Insights
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Quickly Approaching Tax Deadlines Reminder
January 13, 2021
There are two important tax deadlines over the next three weeks! Please see below for more information. Q4-2020 Estimated Payments Due January 15th, 2021 The final payment for 2020 estimated taxes is due this Friday, January 15th. If you required additional tax planning, or need a revised copy of your vouchers or online payment instructions, […]
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Consolidated Appropriations Act, 2021
December 29, 2020
As the Consolidated Appropriations Act, 2021 (CAA, 2021 or the Act), the appropriations bill that includes emergency Covid-19 response and relief, has now been signed into law, we want to share a few relevant updates. Paycheck Protection Program (PPP) Business expenses paid with Payroll Protection Program (PPP) loans that will be forgiven are now fully […]
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Important Year-End Updates from Siegfried Advisory
November 19, 2020
Hello! As 2020 comes to an end, we wanted to share a few important year-end updates. Election Updates Pending the outcome of legal challenges brought by the campaign and supporters of President Donald Trump, with an inauguration on January 20, 2020, Joe Biden presumably will become the 46th President of the United States. The White House […]
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TAX PLANNING AND THE IMPENDING ELECTION
October 26, 2020
Tax planning is an exercise that many individuals visit with their tax advisors in the later months of each year to ensure that they are taking advantage of all of the potential tax opportunities that are available for their specific situation. This year, being an election year, throws a wrench in the typical considerations of […]
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2016 Protective Refund Claim – ACA Taxes
July 14, 2020
Recent months have been punctuated by new legislation owing to continual shifts in the economic landscape. More changes could be on the horizon. The 2010 Patient Protection and Affordable Care Act (ACA) imposed a “shared responsibility payment” for individuals that did not maintain “minimal essential health coverage”. In 2017, the Tax Cuts and Jobs Act […]
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2020 Estimated Tax Payments
July 2, 2020
The 2020 Q1 and Q2 estimated payment deadline is quickly approaching on July 15th, 2020. Many of you have already received your 2019 tax returns and 2020 estimates, and the rest are forthcoming. Typically, we set most clients up under a prior year safe harbor where 110% of prior year tax is paid in throughout […]
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PPP Loan Guidance Update
June 9, 2020
On June 3, 2020, the United States Senate passed the House version of the Paycheck Protection Program Flexibility Act (“PPPFA”). The PPPFA amends the original Coronavirus Aid, Relief, and Economic Security (“CARES”) Act to loosen restrictions placed on PPP loans, making them potentially more favorable for borrowers. The significant changes to the PPP loan program […]
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PPP Loan Additional Guidance for Clients
May 20, 2020
Dear Valued Clients & Business Partners, We want to make you aware of some additional guidance around the Paycheck Protection Program (“PPP”) loan forgiveness that was released by the U.S. Small Business Administration (“SBA”) on May 15th. Below is an executive summary of the most important and relevant information for you to review. We want […]
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Importance of Cash Flow Planning to Come Out of Covid 19 in a Position of Strength
May 18, 2020
Good Afternoon, I hope you and your families are doing well and are healthy. I have fully adapted to the new norm of Zoom calls and I am grateful for the extra time I am getting with my family. However, I am hopeful to be able to return to the office and begin interacting face […]
