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24
NOV
2020
We wanted to make you aware of some very important news from the IRS and from Congress that could affect your taxes and budget in 2021.

Important News from the IRS and Congress about PPP Loans

Last week, the IRS released clarification regarding the non-deductibility of expenses related to loans from the Paycheck Protection Program (PPP). This clarification has the potential to massively affect small businesses across the country and could cause many businesses to find...
24
NOV
2020
Employees: Don’t forget about your FSA funds

Employees: Don’t forget about your FSA funds

It’s that time of year again: time to spend your unused dollars if you have an FSA.
23
NOV
2020
The importance of S corporation basis and distribution elections

The importance of S corporation basis and distribution elections

Do you operate your business as an S corporation? Be aware that several elections are available to an S corp. or its shareholders that can affect the basis adjustments caused by distributions and other events.
18
NOV
2020
Putting the finishing touches on next year’s budget

Putting the finishing touches on next year’s budget

Few business owners look forward to creating an annual budget. Nonetheless, this is an important process that can be made better by attending to some key details.
17
NOV
2020
Taking distributions from a traditional IRA

Taking distributions from a traditional IRA

It may seem easier to put money into a traditional IRA than it is to take money out. Here are some of the ins and outs of the IRA distribution rules.
16
NOV
2020
Health Savings Accounts for your small business

Health Savings Accounts for your small business

Health Savings Accounts offer a way to set aside money on a pre-tax basis to pay for qualified medical expenses. Here’s a review at what an HSA could mean for your business, as well as the relevant inflation-adjusted amounts for 2020 and 2021.
11
NOV
2020
Hit the target with your email marketing

Hit the target with your email marketing

As businesses adjust to an economy severely affected by the COVID-19 pandemic, email marketing has become more important than ever. Here’s how to take your best shot.
10
NOV
2020
How Series EE savings bonds are taxed

How Series EE savings bonds are taxed

Do you own Series EE bonds? Take a look at the issue dates. If the bonds are no longer earning interest, you probably want to redeem them. Here’s more about how the interest on the bonds is taxed.
09
NOV
2020
Do you want to withdraw cash from your closely held corporation at a low tax cost?

Do you want to withdraw cash from your closely held corporation at a low tax cost?

Are you the owner of a closely held corporation and want to take cash out? For tax purposes, you probably want to avoid a dividend distribution. Here are some alternatives.
04
NOV
2020
Should you go phishing with your employees?

Should you go phishing with your employees?

Business owners, have you thought about sending employees a fake email just to see if they’d fall for a phishing scam? It’s a growing, though controversial, practice.