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07
JUL
2021
If your business sponsors a 401(k), you and your participants will be happy to learn that the IRS has extended relief from the “physical presence” requirement related to plan signatures. Details here.

IRS extends administrative relief for 401(k) plans

If your business sponsors a 401(k), you and your participants will be happy to learn that the IRS has extended relief from the “physical presence” requirement related to plan signatures. Details here.
17
MAR
2021
Keeping employees on the payroll has been difficult for many businesses over the past year. The latest COVID-relief law, the American Rescue Plan Act, extends the employee retention tax credit.

New COVID-19 relief law extends employee retention credit

Keeping employees on the payroll has been difficult for many businesses over the past year. The latest COVID-relief law, the American Rescue Plan Act, extends the employee retention tax credit.
03
MAR
2021
The Paycheck Protection Program has undergone some notable changes recently as the Small Business Administration and Biden administration seek to give very small businesses easier access to loan funds.

PPP adjusted to prioritize very small businesses

The Paycheck Protection Program has undergone some notable changes recently as the Small Business Administration and Biden administration seek to give very small businesses easier access to loan funds.
17
FEB
2021
In order to claim a charitable deduction on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t received one yet for a charitable donation you made in 2020?

Did you make donations in 2020? There’s still time to get substantiation

In order to claim a charitable deduction on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t received one yet for a charitable donation you made in 2020?
26
JAN
2021
If you’re required to take distributions from a retirement plan, you may have received a respite in 2020, but you must begin taking them again this year.

Don’t forget to take required minimum distributions this year

If you’re required to take distributions from a retirement plan, you may have received a respite in 2020, but you must begin taking them again this year.
20
JAN
2021
Businesses that have been hit hard by the COVID-19 may be able to obtain help with PPP loans. Here are the basic rules, as well as the tax implications.

PPP loans have reopened: Let’s review the tax consequences

Businesses that have been hit hard by the COVID-19 may be able to obtain help with PPP loans. Here are the basic rules, as well as the tax implications.
11
JAN
2021
The Employee Retention Tax Credit rewards employers that can afford to keep workers on the payroll during the COVID-19 crisis. Here’s how it changed under a new law.

Can your business benefit from the enhanced Employee Retention Tax Credit?

The Employee Retention Tax Credit rewards employers that can afford to keep workers on the payroll during the COVID-19 crisis. Here’s how it changed under a new law.
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
AUG
2020
CARES Act made changes to excess business losses

CARES Act made changes to excess business losses

If you hold an interest in a business, or may do so in the future, be aware that the CARES Act has made changes to excess business losses.
10
AUG
2020
The possible tax consequences of PPP loans

The possible tax consequences of PPP loans

Businesses that received PPP loans should be aware of the tax consequences. Here’s a look at the issue.