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Tips for Self-Employed Taxpayers

January 4, 2021

Conducting business as a sole proprietor is one of the simplest forms of operation. It’s easy to start a business operated as a sole proprietorship and just as easy to […]

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new location

Anfinson Thompson Now in Redwood Falls

October 15, 2020

Anfinson Thompson & Co. has expanded to Redwood Falls. Anfinson Thompson & Co. has purchased LeSage, Reynolds, & Welter Ltd and looks forward to continuing their long history of serving […]

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military tax credits

Tax Tips for Military Personnel

July 15, 2020

Military personnel and their families may be eligible for special tax benefits. Learn how to take advantage of these benefits today!

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Business versus Hobby Tax Classification

Business versus hobby classification

June 2, 2020

A hobby is classified as an activity pursued outside primary work primarily for pleasure. However, a business is used to earn profit. Proof of a profit motive is required to generate a tax loss from a business

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SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application

SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application

May 18, 2020

Friday, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. The […]

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IRS Launches Get My Payment Tool

IRS Launches “get my payment” tool

May 4, 2020

The IRS has launched its “Get My Payment” tool, which allows taxpayers to check the status of their economic impact payment. The tool provides information about a taxpayer’s payment status, […]

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COVID Tax News

COVID-19 Tax News and Frequently Asked Questions

April 21, 2020

More Extended Tax Deadlines to Cover Individuals, Trusts, Estates,Corporations and Others (IR-2020-66) Extensions generally now apply to all taxpayers that have a filing or payment deadline falling on or after […]

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dash of mercedes car - irs mileage rate

2020 Standard Mileage Rates

January 3, 2020

The Internal Revenue Service has issued the 2020 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. These rates […]

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