Charitable contributions – a new way to do it in 2020! CARES Act changed deducting charitable contributions. You can deduct additional $300 for single and $600 for joint return in 2020. See line 10b of the DRAFT Form 1040: https://www.irs.gov/pub/irs-dft/f1040--dft.pdf DRAFT Instructions to Form 1040, see page 29 for info on line 10b https://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf

Do you have an Individual Taxpayer Identification Number (ITIN)? Do you know whether yours is expiring? Read this guideline to determine if yours needs to be renewed. Under the Protecting Americans from Tax Hikes (PATH) Act, ITINs that have not been used on a federal tax return at least once in the last three consecutive years and those issued before 2013 will expire. In 2020 ITINs with middle digits 88 will expire Dec. 31, 2020. Additionally, ITINs with middle digits 90, 91, 92, 94, 95, 96, 97, 98 or 99, that were assigned before 2013 and have not already been renewed, will also expire at the end of the year. Make sure you contact Community CPA to get it renewed. Community CPA is federal authorized agent to assist IRS in ITIN renewal and insurance. To schedule an appointment, call 515-288-3188 or email cpa@communitycpa.com. Tiene un Número de Identificación Individual del Contribuyente (ITIN)? ¿Sabe si el suyo está expirando? Lea esta guía para determinar si su número ITIN necesita ser renovado. Bajo la Ley de Protección a los Estadounidenses contra las alzas de Impuestos (PATH), los ITIN que no se han utilizado en una declaración de impuestos federal al menos una vez en los últimos tres años consecutivos y los emitidos antes de 2013 expirarán. En 2020 los ITIN con dígitos medios 88 expirarán el 31 de diciembre de 2020. Además, los ITIN con dígitos medios 90, 91, 92, 94, 95, 96, 97, 98 o 99, que fueron asignados antes de 2013 y no han sido renovados, también expirarán al final del año. Asegúrese de ponerse en contacto con Community CPA para renovarlo. Community CPA es un agente autorizado para ayudar al IRS en la renovación y la aplicacion de ITIN. Para programar una cita, llame al 515-288-3188 o envíe un correo electrónico cpa@communitycpa.com.

SBA finally released the PPP loan forgiveness instructions and forms that small business owners had been anxiously waiting for. This release should clarify most, if not all, uncertainties in business owners’ minds about PPP forgiveness. We will cover PPP forgiveness application in our upcoming webinars starting 5/16.

As a CPA firm, we are proud of our Firm’s founder Ying Sa. We work hard as a team to contribute more to the wellbeing of our taxpayers. During this COVID-19 pandemic, we expanded our outreach through webinars. Join us on webinar to learn more. Please claim your family membership with Community CPA by becoming our clients!   PDF Version

Contact Information Community CPA Dan Kim 515-720-5872 dan@communitycpa.com   For Immediate Release YING SA’S NEW BOOK, 8AM, NOW AVAILABLE   Des Moines, IA – Des Moines-based entrepreneur and business owner Ying Sa has published her first book, Appointment with Ying @ 8am: Starting up a Business. This book is now available for purchase online: https://www.amazon.com/dp/1647133297/ref=cm_sw_em_r_mt_dp_U_cmV1Db90KTNPX   Over the course of a year, Ying meets with about 2,200 clients. An immigrant formerly from Canada and China, she shares her experiences about starting up a business in the United States through her exceptional understanding of business and compassionate story telling. The book is all about how to get started in business, from the perspective of business narratives.   You will find business stories about Elon Musk, Donald Trump and Elkhart Trolley. Through these accounts, Ying introduced three imaginary countries that all business owners are coming from – Land of Hand, Land of Heart, and Land of Head. The journey to the Business Land from these imaginary countries are no different from a journey as an immigrant to USA.   You will meet business owners “Hua Hua,” “Samuel,” and many more. If you are not an immigrant and want to start a business, find “Emily” in the book. If you are an ITIN holder and want to start a business, find “Jose” in this book. Ying’s hope is that you will truly see the reflection of yourself in these accounts. This book’s perspective is on starting a business from a position of clear self-realization.   The 8am book is first in a four-book series, to be followed by 10am, 2pm, and 6pm. The series follows the life-cycle of a business. Just as we start our day and go to rest at night, a business goes through a similar process as well. 8am is about starting, 10am is about developing, 2pm is about expanding, and 6pm is about sun-setting and retiring from business.   Start your collection of all four books today. Follow Ying at www.communitycpa.com, facebook.com/communitycpa, twitter.com/communitycpa, instagram.com/communitycpa,