My Greater Sacramento Small Business Health Quiz (Part 1)

My Greater Sacramento Small Business Health Quiz (Part 1)

Last week, when I wrote my message to our Greater Sacramento business clients, the biggest news was the second round of the PPP, and that expenses covered under the first round of it would be tax deductible.Has anything happened since then?Goodness, even just the...
Ultra Last Minute Tax Moves for Greater Sacramento Businesses

Ultra Last Minute Tax Moves for Greater Sacramento Businesses

It’s going to take us many weeks to digest everything in this massive omnibus of a relief bill that the President signed on Sunday night.And with year-end barrelling at us (2021 is on FRIDAY), it’s unlikely that we will be able to make substantive action...
IRS Audits Planned To Increase 50% In 2021 by Jim Ornelas

IRS Audits Planned To Increase 50% In 2021 by Jim Ornelas

So, this is flying under the radar in the ending of 2020 … an IRS official just publicly stated that they are massively ramping up audits next year.It was at an event for the AICPA (American Institute of Certified Professional Accounts), and it happened...
Jim Ornelas’ Annual Holiday Prayer

Jim Ornelas’ Annual Holiday Prayer

Well, Congress seems to have heard the cries of the huddled masses of SMB’s around the country, and more PPP funding is (seemingly) on the way.Details aren’t finalized yet as of this writing, so I will have more to say on these matters in future weeks.Even...