State and federal guidelines concerning treatment of forgiven pandemic relief loans and unemployment income still need clarification, prompting tax preparers to delay filing.
taxes
Posted inNation & World
Supreme Court won’t stop turnover of Trump’s tax records to prosecutor
The high court’s action is a blow to Trump because he has for so long fought on so many fronts to keep his tax records shielded from view.
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Posted inMaine Voices, Op-Eds, Opinion
Maine Voices: Conforming to federal PPP law will help Maine’s strapped small businesses
If the Legislature will not protect all taxpayers, they should at least implement Gov. Mills’ suggestion and protect those who borrowed less than $1 million.
Posted inEditorials, Opinion
Our View: Legislature can find a better way to help Maine’s small businesses
Not all PPP recipients are struggling small companies that need extra help from the state.
Posted inBusiness, Morning Sentinel
Potential tax on Paycheck Protection Program loans leaves businesses nervous
Under Gov. Janet Mills’s budget proposal, Maine businesses would have to pay state income taxes on the forgivable federal loans.
Posted inBusiness, Local & State, News, Politics
Mills says she’ll seek ways to avoid state tax on businesses’ relief loans
The governor says she’s having departments look for federal funds that would let the state balance its budget without taxing businesses for Paycheck Protection Program money they received.
Posted inBusiness, Local & State
Working remotely? Don’t plan on deducting added expenses
The best strategy for those working from home is to try to recoup added expenses from your employer, says one local tax expert.
Posted inOp-Eds, Opinion
Commentary: Democrats’ new agenda is to aid the affluent
Republicans can thank their opponents for giving them a new appeal to the working class.
Posted inBusiness, Local & State, News, Uncategorized
With Biden in the White House, Maine could see major changes
The president-elect is already preparing to move forward with an ambitious policy agenda on the environment, health care, taxes, education and other issues.
Posted inOp-Eds, Opinion
Sen. Hamper: The formula for rebuilding Maine’s economy is bipartisan
A Democratic governor realized that cutting taxes, controlling spending and growing jobs was a winning plan, but it took a Republican governor and Legislature to carry it out.