2021… Updates to the Employee Retention Credit 7 Oct 202122 Oct 2021 Updates to the Employee Retention Credit In early August of this year, the IRS released additional guidance on the Employee Retention Credit. For 2021, the credit was expanded to allow…
2021… Deductibility of PPP-Related Expenses 26 Jan 202126 Jan 2021 One of the biggest tax issues of 2020 has been clarified with the signing of the Consolidated Appropriations Act, 2021, (CAA 2021), and that was whether expenses that are normally…
2021… Should Your Business Become Cash-Free? 11 Jan 202126 Jan 2021 A cashless business is one that processes all cash transactions electronically. There is no paper or coin money taken or handled. While no one society has become 100 percent cashless…
2021… IRS Tax Tip: Small businesses should make sure to use the right form when filing employment tax returns 1 Jan 202127 Dec 2020 IRS Tax Tip 2020-173, December 17, 2020 Some small businesses pay employment tax quarterly while others may pay it just once a year. The IRS advises small business owners to…
2020… IRS Tax Tip: Taxpayers should check out these tips before choosing a tax preparer 9 Dec 202026 Dec 2020 IRS Tax Tip 2020-165, December 3, 2020 As taxpayers get ready to file their 2021 taxes, they may be thinking about hiring a tax preparer. People should choose a tax preparer wisely.…
2020… IRS Tax Tips: Common errors businesses should avoid when claiming employer tax credits 4 Dec 20203 Dec 2020 COVID Tax Tip 2020-157, November 18, 2020 Employers who are filing Form 941, Employer's Quarterly Federal Tax Return and claiming an employer tax credit should read the instructions carefully and take their…
2020… Tax Considerations of a Chapter 11 Bankruptcy Filing 5 Nov 20201 Dec 2020 Chapter 11 bankruptcy is a form of bankruptcy that can be filed by businesses or individuals. Its goal is to give the filer time to reorganize and reduce their debt…