Strategies Around Charitable Giving

Big news: starting in 2020 you’re going to be able to go back to deducting at least some of your charitable gifts, up to $300, on the front of your tax return, as an adjustment to income. That’s relatively small, but still worth thinking about as you consider your overall charitable giving strategies.    Here are some other things to consider:   What’s Your Deadline? In 2018 tax law changes made itemizing deductions much less […]

Charitable Giving

COVID Relief

COVID Relief for the Self-Employed

I’m reading #TaxTwitter to try to keep up with the rapid changes happening to help the Self-Employed. The national programs are the Economic Injury Disasters Loans (EIDLs) or the Paycheck Protection Program (PPP): here is a great resource created by Sam Jacobs. I’m also really appreciating the writings of Adam Markowitz and Jeff Levine on #TaxTwitter about these programs. I think it’ll break down this way: If you are self-employed and have no employees (or […]

How to Apply for MA Unemployment if you’re Self-Employed

It’s open! Apply for Pandemic Unemployment Assistance for the Self-Employed using this link. You’ll want a guess about your income from 2019, using your GROSS income, the top line on your Schedule C. You can estimate it. You’ll need your driver’s license on hand. You’ll need a check handy to give them the routing numbers and account numbers for direct deposit. You may need “wage records”, which includes 1099s and W-2s. I’ve got them all […]