Is there such a thing as a 5 figure tax refund?
Welcome: With Liberty We Prevail
Libery Tax Service Review
Introducing a Review blog, brought to you in part by Wealthy Affiliate and Cindy, my 5 star Tax Lady.
With the CoVid economy crisis, there is an element to in person human bond. Even with a mask and a plastic drape to separate the people. Our new requirements for safety and compliance are wearing a mask if coming within 6 feet of people could be unavoidable.
Excluded from the requirements are people who have hearing disabilities, medical exclusions or under 2 years old. Temporary restrictions have closed some businesses in the flux but locally, there are safeguards in place for coronavirus updated today.
Cindy with liberty tax has sleek service, and has had to go through many loops to keep as many staff members as possible on board.
The overall atmosphere is positive despite CoVid-19 and Cindy has been ongoing service deserving of praising like we should.
My tax lady went above and beyond to ensure marketing expenses for Wealthy Affiliate, my website hosting and advertising for my business are accounted with profit and loss to create a write-off benefit. Many people don’t realize the possible expenses to claim, to list a few that helped create better outlook,
- car cost for your travel
- Mileage used for business up to the federal regulations ( if you are partially reimbursed, your taxed credit can be enhanced by getting government help between the reimbursement amount and the allowance.)
- Office equipment, fax, computer, and other office supplies used for the business
- Cost of domains
- paid advertisements
Another Super Cindy magic was assisting with the Payment Protection Program offered for a loan to provide for sustainable staffing. This can even be a sole proprietorship, where there is only one employee or a business of one. It helped that we found an expert on the PPP and walked right through the process with stellar service.
If the business is also open as of February 2020, and has the profit and loss statement or the final tax filing, they take line 31 C divided by 12, then multiply by 2.5 for the estimate of loan amount request. The figure is then potentially 40% forgiven based upon the criteria of spending the proceeds as directed and keeping business going.
Forbes update, article explains PPP Extension:
https://www.forbes.com/sites/brucebrumberg/2020/08/01/paycheck-protection-program-deadline-is-august-8-applying-loan-forgiveness-and-the-new-ppp/
Additional resources:
1. Your Tax Professional
2. Your local branch of Small Business Association
3. Your local bank and/OR credit union
4. irs.gov website
Forms and frequently asked questions are at the above Internal Revenue Service Website.
These are all great places to research, learn what to document and to ask questions. This article is not to be used as advice to make any informed decisions;. All of your tax questions should be asked and answered with your tax professional. Of importance, is not meant as medical advice to treat or guide any health condition.
Courtesy Cannot be Overrated by CoVid
At Liberty Tax service, There used to be Snicker bars, little snacks like Doritos and sodas in the lobby for guests with children’s toys and passing out of fifty dollar bills to get a referral for Uncle Sam. We know this is a spot of bad luck for many businesses as well as the overall market health for our country, and there is no place in the world unaffected by the sickness.
We had similar panic of overall society when HIV and AIDS was first discovered. The way people who practice homosexuality was more taboo and we were in dire straights for understanding the mode of transmission and the impact to the human race.
The first privacy laws enacted were HIV associated illnesses, then all the coding for medical conditions outnumbered the possible positions for ICD-9 coding. It became ICD-10 to allow for a closer to infinite combinations of numbers to keep up with coding system to keep information private and digital payments processing for health care.
The fear factor is proportional in a way from our pandemic perspective, with a flashback that mimics the uncertainty of AIDS. When it first became inflammatory, there was unfairness toward health providers who were accidentally infected by the virus contaminant on a needle piercing the skin and replicating past the body defenses.
Now we have corona and many interactions are awkward or risky, some pieces of communication are skewed masking a smile. With the loss of these priceless elements of service, Cindy shines through. She consistently provides tax services with the highest level of professional support and courteous care despite that nasty CoVid-19.
With the tax refund, investing on the highest ROI (return on investment) turns out to be Webull stock trading for tax return invest. This process of investing with my brother who was also able to profit from the process in building a portfolio. These stocks could mean a nurse eventually retires without panhandling but instead prosperous adventures. A goldmine worth sharing, that the investment gave me a high percent of ROI.
YOU can get your own Webull account here:
Also, the Wealthy Affiliate link to join for making a profitable website and brand that can be scaled with effort follows:
Rich Named it “Bedscroll” A Secret to Skin Failure Prevention
