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Providing actionable insights and valuable information to help you navigate the complexity of tax law for your business.

Milikowsky Tax Law

COVID-19 Is Opening up New Opportunities for Accountants

Due to the ongoing economic damage caused by the COVID-19 and subsequent shutdown, many governments around the world are taking measures to actively protect their countries from going through something similar — or worse — in the future.…
SBA PPP Red flags
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Business Owners: Red Flags to Beware of with the SBA PPP

If you are gearing up to apply for forgiveness for your SBA PPP Loan with form 3245-0407 here are some things to consider: Business owners who received the SBA Payroll Protection Program Loan are gearing up to ask for its forgiveness.  The…
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The Next Wave of Stimulus Checks

Before you get too excited about another wave of stimulus checks... The great stimulus payment debate continues after billions of dollars in payments have already been sent out. Here's why the IRS is urging you to pay attention to details…
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Plr and Other Requests for IRS Guidance Can Now Be Sent Electronically

In these unprecedented times, no organization will go on without making some changes to the way they do business, including IRS — a government entity that was once relied upon as being one of the most consistent parts of our adult lives.  In…
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How Are 3 Key Industries Being Affected By COVID-19?

There hasn’t been a single industry in the world that hasn’t felt the effects of COVID-19. Despite the media attention on consumer uncertainty and production disruption, the greatest impact has been felt by organizations that must learn…

Updated 2020 Tax Filing Deadlines

IRS has extended the deadline for personal tax filings from April 15 to July 15. It has also extended the deadline for contributing to your 2019 IRA. So, if you haven’t contributed, you still have time. Trying to decide whether or not to…
SBA loan underlined words and marker.

Applying to SBA’s Paycheck Protection Program

On March 27th, 2020, Congress passed the CARES ACT, which included provisions that allowed banks to lend up to $349 billion in the Paycheck Protection Program set up by the Small Business Administration.  The rules have changed several times…
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Reopening the Economy: How to Prepare Your Company for Success

When we try to predict what the economy will look like weeks, months, and years from now, it’s important to remember that this is not the first time the human race has had to come back from a low point. No matter which example you choose…
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How to Protect Yourself from Stimulus Check Scams

Over the last few weeks, there have been reports of financial scams regarding the stimulus payment to taxpayers. Fraudulent sources have contacted both people who have their stimulus checks, and those who are still awaiting their checks,…
work from home laptop

Working From Home for Lawyers

Adjusting to the new reality of working from home has been challenging for everyone, including those who work in the legal space. During these unprecedented times, we have all had to quickly shift gears and adapt to working in a way that…
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What to Do if You Get Audited by Edd

Being audited by EDD can happen to anyone. It can be challenging to take a step back and see the audit process from an objective point of view, but maintaining your focus is essential to coming out ahead in the end. In this article, we discuss…
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2020 Tax Filing & the SBA PPP Loan

If your business received SBA PPP loan funds here's what you need to know to prepare for your 2020 taxes. As with all elements of the forgivable loan, there are steps you should take right now to ensure forgiveness and compliance. In…