[caption id="attachment_17305" align="alignright" width="200"] DANIEL R. DEHOEKManaging MemberCPA | ABV | CFP®[/caption] I have recently been asked about the 2nd or (1st for some) PPP loan and the Employee Retention Tax Credit. The PPP Program has been expanded It is possible to obtain a 2nd PPP loan if 1) you have...
On December 27, 2020, the Economic Aid Act (EAA) was signed into law to provide financial relief to small businesses suffering from the impact of the COVID-19 pandemic. The EAA amends the Paycheck Protection Program (PPP) that was established earlier this year under the CARES...
Leaving your job to start a home-based business is exciting, but it’s not for everyone. The secret ingredients to make a home-based business are vision, ambition, and self-discipline. Ingredients: Vision Ambition Self-discipline Business plan Business license and/or permits Business advisor Dedicated “work-only” space Computer Phone or VOIP...
[caption id="attachment_17062" align="alignright" width="180"] Dan DeHoekCPA | ABV | CFPDeHoek & Company, PLLC[/caption] On Dec. 28th, President Trump signed the $900 billion Covid-19 bill, which had passed both Houses of Congress a few days earlier. Generally, it means another $600 stimulus payment to individuals earning under...
As you check off your to-do list for the end of the year, don’t forget to look at your retirement savings. Whether it is an individual retirement account, an employer-sponsored plan like a 401(k), or a brokerage account, assessing your portfolio is crucial. There’s no better...
Businesses may be able to convert 2020’s red ink into cash with coronavirus tax breaks. KEY POINTS Business owners incur net operating losses when their tax deductions exceed income in a given year. Generally, these losses can offset future income. The CARES Act allows taxpayers to...
October was a big month for DeHoek & Company! After decades in the downtown metro area of Grand Rapids, we relocated our offices. Our staff was phenomenal in making the move efficient and organized - no surprise there. Our new address is 2025 East Beltline Ave...
So what should CPAs be doing now? The wise course is to begin preparing the forgiveness application and stay on top of documentation requirements but also be patient with the process as substantial areas are settled. To help you explain the current situation to business...
Deciding when to claim Social Security retirement benefits is probably one of the most important financial decisions you will make in your lifetime. The stakes are high. If you claim too early, you’re signing on to receive reduced benefit checks for life. But if you get the...
A half-century ago, tax withholding was one of the simpler issues for taxpayers and practitioners. A more mobile society makes state tax withholding more complicated today given the ease of conducting cross-jurisdictional business and the increase in teleworking or remote work arrangements. Meanwhile, the web of...