1-800Accountant Blog

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CARES Act: What is the Economic Injury Disaster Loan?

The novel coronavirus pandemic has changed everything. Conditions are changing from day to day, and business owners don’t know if they’ll have customers or if they’ll even be allowed to operate from one week to the next.  In this time of uncertainty, many businesses are at risk of having to fold or let employees go. […]

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CARES Act: What’s in the New Coronavirus Legislation?

After days of tense Congressional debate, several alternative versions, and a contested vote over a previous package, Congress has agreed on and passed an enormous new emergency economic relief bill. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on Friday, March 27. The bill includes over two trillion dollars in […]

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Tax Deductions: What are They, and How Do They Work?

Out of all the different topics that fall under the umbrella of “taxes”, deductions have to be the most exciting. Most people are aware that deducting things from their taxes means that they get more money back on their refund. Or in the case of businesses, it means lower payments to the IRS each year. […]

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What Happened to Form 1040A and Form 1040EZ?

Prior to the 2018 tax year, when you filed your personal income tax return with the IRS, you had a choice of three basic tax forms to select from: Form 1040, Form 1040A, and Form 1040EZ. The one you used depended on the deductions and credits you were planning to take. Well, no more. The […]