October 30, 2023 | Wiley CPA

What is Alimony? Alimony is the amount paid for financial support to a former spouse.  Up until 2019, the spouse that is paying the alimony can deduct the amount from their taxable income while...Read More

Restaurant Revitalization Fund (RRF)

April 22, 2021 | Wiley CPA

Restaurant Revitalization Fund (RRF) The SBA has announced that they will be rolling out a new COVID-19 funding opportunity specifically targeted to help restaurants that were impacted by the...Read More

Navigating the Second COVID-19 Relief Package

January 10, 2021 | Wiley CPA

As the year 2020 winds to a close, one of the biggest questions swirling in business owners’ minds is PPP loan forgiveness. In the past week, President Trump signed new legislation that brings...Read More

Why Should I Care About My Numbers?

December 8, 2020 | Wiley CPA

Why Should I Care About My Numbers? Cash is King! This saying can be interpreted in various ways. Typically with small business owners this term means “ cash equals business health”. That is...Read More

Net Operating Losses

December 7, 2020 | Wiley CPA

Net Operating Losses after the CARES Act Pre-CARES Act Rule: The Tax Cuts and Jobs Act disallowed the carryback of net operating losses but allowed for the indefinite carryforward of the losses....Read More

Capital Gains & Losses

March 27, 2019 | Wiley CPA

What are Capital Gains/Losses? Capital gains and losses arise from the sale of an asset, which can be equipment, land, stock and other property with a monetary value.  A taxpayer will have a...Read More

2019 Tax Brackets – The Big Change

January 28, 2019 | Wiley CPA

A tax bracket helps you determine the tax rate that you will pay on each portion of your income. Every year they are adjusted slightly for inflation. For 2019, the tax cuts and job acts greatly...Read More