Second Stimulus Payment Is Coming

Second Stimulus Payment Is Coming

Good news! Another stimulus rebate payment is coming! And the question on everyone’s mind is, “When will I get my second stimulus check?” The President signed the COVID-related Tax Relief Act of 2020 on December 27, 2020. The new law includes the...
Foreign Tax Credit and Foreign Earned Income Exclusion

Foreign Tax Credit and Foreign Earned Income Exclusion

At BNC Tax, one of the most common questions our clients ask us is, “Do I have to pay U.S. taxes if I live abroad?” And the answer is… maybe. A lot of expats ask us about the foreign earned income exclusion, so we will explain everything you need to know in this...
PPP Loan Forgiveness – How to Apply

PPP Loan Forgiveness – How to Apply

Have you received a Paycheck Protection Program (PPP) loan, or are you planning to apply for one? Read on to learn more about PPP loans and how to apply for PPP loan forgiveness. NOTE: There is still time to apply for a PPP loan! The deadline to apply has been...
New Tax Deduction for Charitable Donations in 2020

New Tax Deduction for Charitable Donations in 2020

Taxpayers who do not itemize their deductions can claim as much as $300 in charitable contributions for calendar year 2020, thanks to a temporary change to the tax code. Typically, taxpayers who itemize their deductions on Schedule A of Form 1040 can deduct donations...