Tax Planning

All Independent Workers Need to Know About 1099-Misc Forms

  Tax season is typically a stressful time for many people. It’s important not to make any tax mistakes or miss out on extra cash through deductions.    Most people complete their contracted jobs from the comfort of their own home. Because of this, many independent workers started their businesses or began working as freelancers …

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Should I Apply For the PPP Loan Forgiveness Right Now in 2020 or Defer?

The Paycheck Protection Program (PPP) was created as a result of the COVID-19 pandemic. It is a part of the Coronavirus, Aid, Relief, and Economic Security Act (CARES Act). Many business owners are wondering if they should apply for the PPP loan forgiveness or defer in 2020.   PL Consulting has helped many employers apply …

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January-October Financial Review for Tax Planning: Why It’s Beneficial

  Financial reviews evaluate your financial position. Since everyone’s tax planning needs are different, each review focuses on what is most important to you.    Financial reviews help with future tax planning. This gives you structure in your transactions and minimizes the legitimate amount of tax you pay. Tax planning is a great tool to …

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