Creating Elegant Sustainable Solutions for Companies and Individuals
Economic Stimulus Checks
Who is Eligible
Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.
Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child.
To review the entire IRS Statement, click the button below.
Payroll Protection Program
Updated April 3, 2020
Below are some key documents for small businesses outlining the Payroll Protection Program.
To view the Payroll Protection Program Overview, Click here
To view a Payroll Protection Program Fact Sheet, Click Here
To view the Payroll Protection Program Application, Click Here.
Addendum A for Application, Click Here.
Addendum B for Application, Click Here.
Calculation Examples Document, Click Here.
PPP Checklist, Click Here.
Karen Collom, CPA is a Texas-based accounting firm that provides a full range of accounting, bookkeeping and tax services to individual and small- to medium-sized businesses. Since 2004, the firm has provided services to businesses that lack a bookkeeper, controller, or CFO — or simply choose to outsource those functions. Global clients include foreign nationals in the US and US Citizens living abroad. They also provide services for seniors including managing monthly finances and bill pay, as well as estate settlement services, in the event of a death of a business partner, spouse or parent.
Bundled Tax & Accounting Packages
Executive / Premium
Tax Minimization Strategies
New Business Set-up Consulting
Quickbooks Training and Support*
*For Clients Only
Meet Our Team
The team at Karen Collom, CPA, works together to create sustainable solutions for our clients that allow for client growth and change. Building relationships is tantamount to what we do. Our clients entrust us with their financial security, and we never consider them just a number.
Contact us to see how our accounting expertise and personalized services can save you time, money and frustration on all accounting matters.
To ensure that there is a good fit between us, we offer a 30 minute complimentary in-person session to discuss your needs and our solutions.
Please complete the form and submit it and we will reach out to schedule your 30 minute session.
1333 W McDermott Dr
Suite 150, Allen, TX 75013