Thomas Jefferson said “A government big enough to give you everything you want, is strong enough to take everything you have”.
In addition to the massive stimulus program passed in February now the government is backing new car warranties. While I don’t provide recommendations about vehicle purchases I do research tax law changes to see what impact they have on my clients. There is some gold in the new stimulus bill if you know how to mine for it. One such golden nugget is an extension of the loss carry-back periods. Businesses that have lost money can carry that loss back up to five tax years to get a refund of taxes paid in a prior profitable year.
If your business has lost money or you know a business owner who has lost money, we need to talk. We can communicate by email to Peter@TarantinoCo.com or by telephone at 678-624-4775.