Strategic Tax Insights
Welcome to the Philadelphia CPA insights blog, brought to you by Mark S. Fineberg CPA. Every time a new tax ruling, pronouncement, or tax change occurs, stop by this blog to learn more. Here you can find and explore the most advanced legal, ethical, and moral tax saving strategies allowed by the U.S. Tax Code. Enjoy.
Recent Insights
Loan Payments MADE by the SBA-Taxable?
Are you one of the millions of businesses that have an outstanding non-disaster Small Business Administration (SBA) loan? These include 7(a) loans (general small business loans of up to $5 million),504 loans (loans of up to $5.5 million to provide financing for major fixed assets ... (continued)
PPP First Draw Law Requirements
Two things to know about the Paycheck Protection Program (PPP) first draw enacted on December 27, 2020: The first draw is for those who missed getting in on the original PPP, which expired on August ... (continued)
Maximize Your Retirement Contribution--Solo 401(K)
The key to a successful and substantial retirement plan savings is to initiate this program, as early as possible, and make wise investments as well.If you want to maximize your retirement contribution, and your resulting tax liabilities---please consider the Solo 401(K).Source 1 (You)--Elective Deferral ... (continued)
Business Retirement Plans-Creates Wealth!!
How do you multiply your net worth? Let the government help. Here’s how: with both the SEP IRA and the solo 401(k) retirement plans, your investment in your tax-favored retirement creates tax deductions for the money you invest in the plan,grows tax-deferred inside the plan, andsuffers taxes ... (continued)
Are SBA Loans Taxable?
Are you one of the millions of businesses that have an outstanding non-disaster Small Business Administration (SBA) loan? These include 7(a) loans (general small business loans of up to $5 million),504 loans (loans of up to $5.5 million to provide financing for major fixed assets ... (continued)