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Home Authors Posts by Norman Grill

Norman Grill

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Norman G. Grill: Deducting business-related car expenses

If you’re self-employed and use your car for business, you can deduct certain business-related car expenses. There are two options for claiming deductions: Actual expenses....

Norman G. Grill: PPP loan deadline extended through May 31

The Paycheck Protection Program Extension Act of 2021 was signed into law on March 31, extending the deadline to apply for a loan by...

Norman Grill: With the federal tax deadline extended, here are...

The federal income tax filing deadline for individual taxpayers, including those who pay self-employment tax, has been extended to May 17 for the 2020...

Norman Grill: Small business tax changes

Tax changes due to recent legislation such as the Tax Cuts and Jobs Act and the CARES Act affect both individual taxpayers and small...

Norman Grill: Taxable vs. nontaxable income

Is there a hard-and-fast rule about what income is taxable and what is not? The quick answer is that all income is taxable unless...

Norman Grill: What’s new for 2020 tax returns

Taxpayers need to be aware of several key items involving credits, deductions and refunds when filing their tax returns. 1. Recovery rebate credit/economic impact payment....

Norman G. Grill: Covid-related tax relief for individuals

Signed into law late last year, The Consolidated Appropriations Act, 2021, contains a number of Covid-related relief provisions for individual taxpayers. Here are some...

Norman Grill: Covid-related tax relief for your business

Paycheck Protection Program (PPP) Loans. Retroactive to the effective date of the CARES Act, PPP loans that are forgiven will be treated as tax-exempt...

Norman G. Grill: Year-end income tax reduction strategies

With the arrival of the end of the year, now is the time to consider moves that might minimize your tax liability for 2020....

Norman Grill: Business tax changes for 2020 filings

Here are some tax changes you should know about for your 2020 business filing. Standard mileage rates The standard mileage rate for 2020 is 57.5 cents...

Norman Grill: End-of-year businesses tax planning strategies, part II

A number of year-end tax planning strategies are available to business owners that can be used to reduce tax liability. Let’s take a look ....

Norman Grill: End-of-year businesses tax planning strategies, Part I

A number of year-end tax planning strategies are available to business owners that can be used to reduce tax liability. Let’s take a look ....

Norman G. Grill: Preparing for a comfortable retirement

As you approach retirement, you need to focus on key financial issues to ensure a smooth transition. Here are five of them: 1. Health insurance Are...

Norman G. Grill: Just the facts on home sale tax

There may be tax consequences when selling your home. Here are 10 things to be aware of: 1. Exclusion of gain. You may be able...

Norman G. Grill: Exiting your business – Which option is best...

You have four ways to exit your business. The more you know about each, the more likely you will choose the one that’s best for you.