Neely Whites Tax and Financial LLC

I am both sad and pleased to announce that I cannot take any new clients. I appreciate all the referrals over the years that got me to this point. Thanks everybody!

Hi everyone. If an in-person appointment is important to you, please go ahead and book, even if it's for March or April. I am going to be blocking many days of my calendar to allow time for the virtual appointments. The available in-person days will vanish pretty rapidly over the next few weeks.

I wish my military clients could opt out of this.

Regarding the irs.gov stimulus tracker tool, when it asks for your payment amount on your tax return, if you had a penalty built into the amount you owe for not... paying in enough, you need to back that penalty amount out. The IRS is asking for tax dollars owed (or refunded), NOT including penalty amounts. Be sure there is no estimated tax penalty built into your balance. If there is, subtract the penalty from your balance and the tracker should work. See more

New PPP guidance from the SBA for self-employed and partnerships came out today. Partnerships SHOULD include payments to partners in their PPP calculations. T...his is the opposite of the last guidance, which said partners would claim their self-employed partnership income on their own apps. If you submitted a PPP for your partnership and the bank wouldn't let you include partner guaranteed payments in the monthly payroll cost, revise the application! For schedule C filers, your math is easy... the net profit on your schedule C divided by 12 is your monthly payroll cost. The bank will want to see your schedule C, even if you haven't filed a tax return yet. Get with your tax person for help.