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#Vote2020

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GBC Tax Pros – Join Our Team Today

On The Fly with GBC – Design, Consulting & Financial Services

Become a GBC Tax Pro!

Quick Start to Your Own Tax Business. Virtual Tax Office or Tax Office Location

Join Our Team

Tune In to Our Weekly Presentation, Tuesdays at 8:45pm on Facebook. For Questions or More Information, Call or Message a GBC Tax Pro!

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#Vote2020

Be Heard!!
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The 2020 Tax Brackets Guide: Key Changes That You Need to Know

https://wp.me/pbkXMs-1Mg

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IRS Stimulus Debit Cards Being Cut Up, Mistakenly Reported As Scam

The IRS is sending out four-million stimulus payments in the form of Visa prepaid debit cards even though most people were expecting checks.

IRS Stimulus Debit Cards Being Cut Up, Mistakenly Reported As Scam
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GBC Tax Pros – Join Our Team Today

Become a GBC Tax Pro!

Quick Start to Your Own Tax Business. Virtual Tax Office or Tax Office Location

Join Our Team

Tune In to Our Weekly Presentation, Tuesdays at 8:45pm on Facebook. For Questions or More Information, Call or Message a GBC Tax Pro!

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Self Employed? Independent Contractor??

It is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors.

Please see IRS – SELF EMPLOYED CENTER for additional clarifying information.

Determining Whether the Individuals Providing Services are Employees or Independent Contractors

Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an employee. You do not generally have to withhold or pay any taxes on payments to independent contractors.

Before you can determine how to treat payments you make for services, you must first know the business relationship that exists between you and the person performing the services. The person performing the services may be –

In determining whether the person providing service is an employee or an independent contractor, all information that provides evidence of the degree of control and independence must be considered.

More information available here

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2020 – Do You Need to Borrow Funds from Your Retirement Account?

Individuals eligible to take coronavirus-related withdrawals from workplace retirement plans may also, until Sept. 22, 2020, be able to borrow as much as $100,000 from those retirement plans. https://go.usa.gov/xfUbu#IRS#COVIDreliefIRS

See The Following Links for More Information

IRS – #CovidRelief – Do You Need A Loan From Your Retirement Acct?

IRS – Notice 2020-50

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GBC Kentucky – Washington County Tax, Accounting, & Life Insurance Store #29

GBC Kentucky – Washington County Tax, Accounting, & Life Insurance Store #29 919 KY-433, Mackville, KY 40040 (502) 627-0557

https://maps.app.goo.gl/FTwjpFBckSMyrE8y8