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So far Thomson Reuters has created 211 blog entries.

Answers to Questions about the CARES Act Employee Retention Tax Credit

The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to [...]

By |2020-04-06T12:48:33-04:00April 6th, 2020|Categories: Blog, COVID-19, Tax|Tags: , , |0 Comments

CARES Act Provides Option to Delay CECL Reporting

The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27. Among other economic relief measures, the new law allows large public banks to temporarily postpone the controversial current expected credit loss (CECL) standard. Here [...]

By |2020-04-03T13:57:59-04:00April 3rd, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , |0 Comments

New CARES Act Provides Businesses with More Relief

On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Employee [...]

By |2020-03-30T12:40:00-04:00March 30th, 2020|Categories: Blog, COVID-19, Tax|Tags: , |0 Comments

Coronavirus (COVID-19): Tax relief for small businesses

Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief. In a separate development, the IRS has issued guidance allowing taxpayers to defer any amount of [...]

By |2020-03-25T18:13:32-04:00March 23rd, 2020|Categories: Blog, COVID-19, Tax|0 Comments

Beware: Coronavirus may affect financial reporting

The coronavirus (COVID-19) outbreak — officially a pandemic as of March 11 — has prompted global health concerns. You may also be worried about how it will affect your business and its financial statements for 2019 and beyond. Close up on financial [...]

Determine a Reasonable Salary for a Corporate Business Owner

If you’re the owner of an incorporated business, you probably know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason is simple. A corporation can deduct the [...]

By |2020-03-11T18:28:32-04:00March 11th, 2020|Categories: Blog|Tags: , |0 Comments

Lease or buy? Changes to accounting rules may change your mind

The rules for reporting leasing transactions are changing. Though these changes have been delayed until 2021 for private companies (and nonprofits), it’s important to know the possible effects on your financial statements as you renew leases or enter into [...]

Work Opportunity Tax Credit extended through 2020

If you’re a business owner, be aware that a recent tax law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a valuable tax credit known as the Work Opportunity Tax Credit (WOTC).  [...]

By |2020-03-04T14:33:39-05:00March 4th, 2020|Categories: Blog, Tax|Tags: , |0 Comments

Are You Eligible for Home Office Deductions?

Do you run your business from home? You might be eligible for home office deductions If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy [...]

By |2020-02-24T12:55:29-05:00February 24th, 2020|Categories: Blog, Tax|Tags: , , |0 Comments