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COVID-19 Tax Relief: IRS Provides Broad-Based Penalty Relief
GET IN TOUCH GET IN TOUCH Did the IRS hit you with a penalty related to your 2019 and/or 2020 tax returns? If so, there is some good news that may apply to you. You don’t need us to tell you: The Covid-19 pandemic profoundly impacted all aspects of life and continues to be felt…
Read MoreHow Long Should You Keep Accounting Records?
GET IN TOUCH GET IN TOUCH Past tax returns, statements, and financial records have a life; you should keep them as long as needed to substantiate your filings. On the other hand, there is a moment when you can let the past go and relieve yourself of expired records. The general rule of thumb is…
Read MoreEfile sent
Thank you for letting us know that you have sent in your efile form, we must have missed it. I’ll find it – if you don’t hear from me then you can assume this is taken care of. — Alnie
Read MoreEmail White Listing
You’ll need to whitelist our email address to ensure you receive important updates from us regarding your accounting and services that you order. Follow These Instructions for Gmail: 1. In your inbox, locate an email from jody@rcmycpa.com ( such as the welcome email for the product you just purchased, the document you just downloaded, or the confirmation of…
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We got your request! We send out useful information about accounting, finance and management, usually once every couple of weeks now somewhat more often due to COVID. We always appreciate your feedback and thanks for being a part of our family!
Read MoreApril 3, 2020
This page is the recording of our Q&A session from April 3, 2020. Due to a recording issue, click here to get the slide presentation. Download the slides here. Link to small business definition.
Read MoreApril 1 Q&A
Questions and Answers about the PPP loan program.
Read MoreCovid-19 Relief for New York City Companies
In New York City Mayor de Blasio announced that the city will provide some relief for small businesses: Businesses with fewer than 100 employees who have seen sales decreases of 25% or more will be eligible for zero-interest loans of up to $75,000. Businesses with fewer than five employees can apply for a grant to…
Read MoreThe IRS did formally push back tax filing to July 15, 2020
Last Updated: March 25 2020 IRS Frequently Asked Questions for Filing and Payments IRS LINK Some Details Deadline extended for all tax return due 4/15 (Individual, Business, Trust, Estate Income Tax) NO EXTENSION FORMS NEED TO BE FILED States are (will be) following the IRS deadlines If you file and are due a REFUND they…
Read MoreMore detail on NYC Loans
They require a signed affidavit, which you can download here for the continuity loan and here for the employee retention grant program. They want split out or broken down revenue statements for two consecutive months (Jan&Feb, or Feb&March) in 2020 Documentation of revenue following COVID-19 impact. Documents accepted include one or more of the following…
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