Leonardo & Co., PA

05/06/2020

Allright PPPeople...

If your business received or will receive a PPP loan you should PPProtect yourself by tracking your PPPayroll costs and headcount PPProperly. There are a lot of PPPitfalls that could PPPrevent you from getting the loan forgiveness that the government PPPromises.

PPProtect your business. Call us for a free telephone consult.

207-782-9018 ext 1

Leave a message and we will get back to you PPPromptly.

04/21/2016

Can't pay your April tax bill all at once? Maybe you just don't want to. Call us to discuss the advantages of a streamlined installment agreement with IRS. These agreements are available for balances of less than 50,000 and are a simple and painless process.

(207) 782-9018

04/27/2011

Tax Tip - Leonardo & Co, PA
You get an IRS notice... but didn't really "get it?" This can help... http://go.usa.gov/13T

If you receive a letter or notice from the IRS, it will explain the reason for the correspondence and provide instructions. Many of these letters and notices can be dealt with simply, without having to call or visit an IRS office.

04/27/2011

Tax Tip - Leonardo & Co, PA
Canceled Debt – Is it Taxable or Not? Sometimes, yes. http://go.usa.gov/1nM See what IRS says...

In general, if you are liable for a debt that is canceled, forgiven, or discharged, you must include the canceled amount in gross income unless you meet an exclusion or exception. However, canceled or forgiven debt is not considered inco

02/17/2011

Tax Tip - Leonardo & Co, PA
Adopting a child? The tax law has expanded and increased the adoption credit in 2010. http://go.usa.gov/gKS

IRS Tax Tip 2011-34 You may be able to take a tax credit of up to $13,170 for qualified expenses paid to adopt an eligible child. The Affordable Care Act increased the amount of the credit and made it refundable, which means it can increase the amount of your refund. Here are seven things the IRS

02/17/2011

Tax Advice - Leonardo & Co, PA
Four facts on Bartering. Fair market value of goods or services traded must be reported as income. http://go.usa.gov/gDm

IRS Tax Tip 2011-33 In today’s economy, small business owners sometimes look to the oldest form of commerce – the exchange of goods and services, or bartering. The IRS wants to remind small business owners that the fair market value of property or services received through barter is taxable income.

02/10/2011

Tax Help - Leonardo & Co, PA
“What do I do? I'm missing my W-2..." http://go.usa.gov/Yu2

Before you file your 2010 tax return, you should make sure you have all the needed documents including all your Forms W-2. You should receive a Form W-2, Wage and Tax Statement, from each of your employers. Employers have until January 31, 2011 to send you a 2010 Form W-2 earnings statement.