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Did You Take a PPP Loan? Get Ready for Higher Taxes.

Did You Take a PPP Loan? Get Ready for Higher Taxes.

A report by the Small Business Administration in August showed that more than 5.2 million businesses took advantage of the U.S. Government’s Paycheck Protection Program (PPP) in 2020. The program closed to new loan applications on Aug. 8, and, as...

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Minimize the "Widow's Penalty" Tax with a Roth Conversion

Minimize the "Widow's Penalty" Tax with a Roth Conversion

If you haven’t heard of the so-called “Widow’s Penalty,” it might be because you’re not approaching retirement age yet. If you are getting close to retirement, though, you should pay attention. That’s because a situation inherent in the tax code,...

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Missing a Form 1099-Misc? Don’t Ask for It! 

Missing a Form 1099-Misc? Don’t Ask for It! 

Unlike employees who receive a W-2 from their employer each January, freelancers tend to receive a 1099-MISC  form from clients who have paid them more than $600 in the previous year (or more than $10 in royalties or broker payments). If you are...

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Tax Reform and You: What’s New in 2018 (Part 1)

Tax Reform and You: What’s New in 2018 (Part 1)

The Tax Cuts and Jobs Act of 2017 totals 1,097 pages – not exactly light reading for anyone, even a CPA!

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TD Ameritrade Sounds Off on Tax Reform Bill

TD Ameritrade Sounds Off on Tax Reform Bill

As the U.S. Senate attempts to pass its tax reform bill this week, TD Ameritrade, which AMDG Financial uses as a custodian for our brokerage accounts, announced that it strongly opposes a provision in the Senate Tax Cuts and Jobs Act.

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