We get this question a lot:  How long do I have to keep my records?  Here’s a handy infographic that might help!  Be sure to keep them in a safe place because accidents (and hurricanes) happen.  At GLO, we digitize our clients’ paperwork and store it our secure portal for as long as we’re working […]

The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less, which the SBA reports account for 93% of outstanding PPP loans. The guidance comes at a time when many

The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19 pandemic. Notice 2021-49 addresses various issues, particularly those related to the extension of the credit through 2021 by the American Rescue Plan Act (ARPA). The

Did you know that September is National Preparedness Month? The IRS is doing its part by urging taxpayers (both individuals and businesses) to develop or update their emergency preparedness plans. To that end, it has compiled a list of action items for taxpayers to consider before a disaster, such as a hurricane or wildfire, strikes.

We often think about  savings for our golden years in terms of retirement programs and that’s a good thing!  When we think about savings, Americans aren’t even in the top 10 in the world in terms of the percentage of income we save.  So it’s not surprising that we don’t think about that part of

Do you wonder where the state revenue comes from in Texas? And where it’s spent? TX takes in over $250 billion a year, from over 60 taxes, fees and assessments. Most of the revenue pays for services and activities, including road construction, university research, prisons and professional licensing. To promote transparency, TX has made an

Single parents have a lot on their minds.  In addition to taking care of the day-to-day needs of their kids, single parents should also think about a future for their children without the parent present.  GLO is happy to help plan for the future and protect your assets. #estateplanning

The IRS has announced that 2021 family leave credits are available for employees who’ve helped others receive COVID-19 vaccinations. Wages paid for leave taken to accompany an individual who’s obtaining a COVID-19 vaccination (or to care for an individual who’s recovering from a vaccination) may be considered qualified family leave wages for purposes of the

After the Senate passed the Infrastructure Investment and Jobs Act, Senate Democrats quickly turned their attention to adopting a $3.5 trillion fiscal year 2022 budget resolution. Early on Aug. 11, the budget resolution passed on a party line basis, with a final vote of 50 to 49. The budget “blueprint,” released earlier this week, calls

It used to be said that taking a home office deduction was a sure way to get an IRS audit.  Not true!  GLO can help you do it successfully just as we’ve done for other clients.  You’re working from home, right?  #homeoffice #workingfromhome #taxes