June 1, 2020
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News
Business meal deductions: The current rules amid proposed changes
President Trump has proposed increasing the amount that can be deducted for business meal and entertainment expenses. While it’s unclear if a law could pass that would enhance tax breaks, it’s a good time to review the current rules.
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May 26, 2020
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News
Student loan interest: Can you deduct it on your tax return?
The CARES Act has provided some help for people with student loans. And if you do make some payments this year, you may be able to deduct the interest on your tax return. Here are the rules.
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May 25, 2020
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News
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.
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May 20, 2020
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News
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.
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May 19, 2020
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News
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.
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May 18, 2020
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News
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.
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May 13, 2020
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News
How to succeed at virtual team building
Does your company have employees working from home? Here are some virtual team-building tips to consider.
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May 12, 2020
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News
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 contributions.
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May 11, 2020
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News
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.
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May 6, 2020
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News
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.
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