For Employee Retention Credit for 2020, a small restaurant with only two employees received a PPP Loan of $21,108, with 60% used for wages. The PPP Loan was used up in the second quarter. For the third and fourth quarters of 2020, the two employees were paid more than $10,000 each. Can the restaurant claim up to $5,000 credit for each employee, and how does the credit calculation work if an employee received less than $10,000 in a qualifying quarter?
December 23rd, 2024
My soon-to-be ex-husband filed joint taxes without my consent, and I need to know how to handle this situation.
March 21st, 2024
I earned $195 in stocks. Does that amount have to be claimed, and how should it be reported on my tax return?
June 7th, 2023
I won a lawsuit with the EEOC for discrimination against a company and received two checks, one with a W2 and the other without. I'm unsure if the second check is taxable and whether I should report it. What should I do?
September 21st, 2023
How do I set up Shopify sales tax for Missouri? I am 20 years old, single, and have no dependents. I am just starting and don't know how to collect the right amount of sales tax before starting.
August 1st, 2023
What does 'ss by itself' mean in the context of Social Security income and taxation?
July 3rd, 2024