With all of the insanity of 2020, it seems a bit crazy (and a bit of a relief, to be frank) that we now find ourselves in Thanksgiving week in Los Angeles County.
I have some thoughts, which are perhaps a bit more meditative than normal, because of how this holiday works for tax accountants, especially this year.
Because the personal and business deadlines got extended this year, on top of all of the PPP/EIDL work we had to do (about which, I will have some thoughts next week, as the IRS JUST issued some guidance on the deductibility of expenses paid with PPP proceeds) … well, these holidays seem like they simultaneously came like a lightning bolt AND as if they came to us after a decade-long sojourn.
2020 has been quite a year.
For tax accountants, the December holidays are wonderful, of course — but they are a calm before a big storm (busy season). We’re usually furiously prepping for the season, and seeking to understand the last-minute tax code changes that Congress often foists upon us.
And this year … well who knows what’s going to happen this year.
But, as I have been reminding some of my clients and friends this week — nothing changes until actual laws are passed — no matter who is President. And we’ll be watching for any Congressional actions, and here to help you and your business take appropriate action as needed, if you’ll let us.
Because of all this uncertainty and change, we haven’t had the same kind of hiatus from tax issues that we normally do in the summer and fall. And my inbox is overflowing, and my team is also very busy.
And here we are in Thanksgiving week. Trying to slow down to do it right.
So I’m beginning this week by looking back a little, and turning my mind towards gratitude for 2020.
I’m reminded of our firm’s many blessings. For instance, I do NOT take for granted that business owners like you, across Los Angeles County and beyond, have chosen us to walk with them, as we give them advice and help take care of their businesses — especially during 2020. It’s hard to trust your “baby” (your business) to another — and in the middle of so much crisis. And we don’t take it lightly.
And maybe you can relate to this one: I also find myself looking back on the journey I took to get here. As anyone who runs their own business will agree, it’s a giant leap to go out “on your own”. I still remember what it was like to take this dream I had for my firm and put it into reality. I was a little bit scared, but I was hopeful. I remember the friends and other business-owners who helped me along the way … and how risky it all seemed.
The risk DID pay off of course, and I’m happy about what we’ve been able to create around here at Quinones & Co., Inc.. Now we get to be the ones helping people pursue THEIR dreams.
And we are thankful that we could be a port in the storm for so many in 2020.
For a business owner, the first step seems really big … until the next step comes. And then you realize that running a business is a series of these decisions — risk is part of the equation, especially in times of massive uncertainty as now.
So it sure helps to have somebody with a cold, clear eye to make sure you know what you’re getting into.
Which finally brings me around to the theme of my gratitude for 2020 this November, as a business owner.
As I gather at my table this week, I am thankful for you — and people like you. Whether you’re a long-time client or an occasional reader of our blog, thank you for your trust, and if we do have the pleasure of serving you as a client, as you’re reading this, thank you for your business year after year … and for making my first step into starting and running a firm “way back when” so rewarding now.
And as for what I’m excited about as we head towards the end of 2020? Well, we’re mobilized to do everything we can to keep our clients’ and — if you’ll let us — your business as solvent and profitable as possible, no matter who’s in the oval office.
We’re in YOUR corner… right here: 323-597-1152
Victor M. Quinones
Quinones & Co., Inc.
Feel free to share this article with a Los Angeles County area (or beyond!) business associate or client you know who could benefit from our assistance. While these particular articles usually relate to business strategy, as you know, we specialize in tax preparation and planning for families and business owners.