PSW Logo
25
MAY
2020
SMALL BUSINESS TAX BRIEF FOR MAY 26

IRS releases 2021 amounts for Health Savings Accounts

There are many advantages to Health Savings Accounts (HSAs). Here are a few of them, along with the HSA inflation-adjusted amounts for the 2021 calendar year.
20
MAY
2020
BUSINESS BRIEF FOR MAY 20

Attuning your social media strategy to the pandemic

The COVID-19 crisis has changed many things about running a business, including how to use social media. Some best practices to consider.
19
MAY
2020
INDIVIDUAL TAX BRIEF FOR MAY 19

Did you get an Economic Impact Payment that was less than you expected?

Have you received an Economic Impact Payment only to find out it’s less than what you were expecting? Here are some of the reasons why.
18
MAY
2020
SMALL BUSINESS TAX BRIEF FOR MAY 18

Fortunate enough to get a PPP loan? Forgiven expenses aren’t deductible

If you get a PPP loan and use the proceeds on certain expenses, the loan amount will be forgiven. Can you then deduct the expenses on your tax return? The IRS answers that question in new guidance.
13
MAY
2020
BUSINESS BRIEF FOR MAY 13

How to succeed at virtual team building

Does your company have employees working from home? Here are some virtual team-building tips to consider.
12
MAY
2020
INDIVIDUAL TAX BRIEF FOR MAY 12

There’s still time to make a deductible IRA contribution for 2019

Do you want to save for retirement on a tax-advantaged basis? It’s not too late to make 2019 IRA contributions (if you’re eligible) just because it’s 2020. And this year, the IRS extended the deadline three months due to COVID-19. Here are the rules and who can make...
11
MAY
2020
SMALL BUSINESS TAX BRIEF FOR MAY 11

Business charitable contribution rules have changed under the CARES Act

Food and financial insecurity have increased during the coronavirus (COVID-19) pandemic. If your business is donating to charity to help ease the pain, you may be eligible for enhanced charitable donation deductions.
06
MAY
2020
BUSINESS BRIEF FOR MAY 6

Subchapter V: A silver lining for small businesses mulling bankruptcy

Bankruptcy has become a possibility for many small businesses. The newly created Subchapter V of the U.S. bankruptcy code may offer a ray of hope for some companies.
04
MAY
2020
SMALL BUSINESS TAX BRIEF FOR MAY 4

The CARES Act liberalizes net operating losses

The CARES Act includes favorable changes to the rules for deducting net operating losses (NOLs). Here’s how.
29
APR
2020
BUSINESS BRIEF FOR APRIL 29

Adjust your expectations of business interruption coverage

Business interruption insurance may seem like an ideal risk management measure to deploy during the COVID-19 crisis. But many business owners are likely facing an uphill battle when seeking payouts.