We continue to work remotely, meet with clients face to face on video, and in person upon appointment
We understand everyone has a different feeling about the current situation in Flagstaff – please let us know how we can assist you during this time!
Help for Self Employed
Comparable tax credits for self-employed individuals
If you are a self-employed individual who is affected by the coronavirus emergency, the Act allows you to claim a refundable credit against your federal income-tax bill, including the self-employment tax hit. If the credit exceeds your bill, the government will issue you a payment for the excess.
The credit equals: 1) 100% of the self-employed person’s sick-leave equivalent amount plus 2) 67% of the sick-leave equivalent amount for taking care of a sick family member or taking care of your child following the closing of the child’s school.
The sick-leave equivalent amount equals the lesser of: 1) your average daily self-employment (SE) income or 2) $511 per day for up to 10 days (up to $5,110 in total) to care for yourself due to the coronavirus or $200 per day for up to 10 days (up to $2,000 in total) to care for a sick family member or your child following the closing of the child’s school due to the coronavirus.
In addition, you could claim a coronavirus emergency family-leave credit for up to 50 days. The credit amount would equal the number of qualified family-leave days multiplied by the lesser of 1) $200 or 2) your average daily SE income. The maximum total family-leave credit would be $10,000 (50 days times $200 per day).
These credits for self-employed individuals are only allowed for days during the period beginning on a date specified by the Secretary of the Treasury and ending on Dec. 31, 2020. The beginning date will be within 15 days of the March 18 date the Act became law. (1)
You Have Options!
Scan & Drop
Scan in your documents to Dropbox, Google Drive, email (encrytion recommended)
Our number one priority is to keep our clients and employees safe. As we understand, the World Health Organization states that most people who become infected experience mild illness and recover, but it can be more severe for others. We want our community to stay as calm and unstressed as possible. If there is anything we can do to accommodate your situation, please let us know!
Stop By
We’re open regular business hours for drop-in pickup or drop-off
Some recommendations for safety are a little bit new to us – but some social distancing mixed with extra cleaning is a start. Our office takes sanitary precautions recommended by the CDC, including Lysol, wipes, and frequent hand sanitization. We want to assure you that we’re doing everything we can to keep our office safe. We will keep one staff member here during regular business hours to assist
