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 Creates Relief and Opportunity for American Taxpayers 

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, a sweeping economic stimulus package designed to provide financial relief for American individuals and families. Here is a brief overview of [...]

By |2020-04-02T21:07:15-04:00April 2nd, 2020|Categories: Blog, COVID-19, Jodie Rolih, Tax|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

5 Reasons You Shouldn’t Wait Until July 15th to File Your Return

While Treasury’s response to the ongoing COVID-19 crisis by automatically extending certain filing deadlines and payments is welcomed news to many, waiting until July 15th to file and/or pay your taxes may have unintended adverse consequences.  Here are five [...]

By |2020-03-26T11:37:08-04:00March 26th, 2020|Categories: Blog, COVID-19, Tax, Tim Tikalsky|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

Put Away Your Checkbooks: Taxpayers Get an Extension

Because of the ongoing financial turmoil, both the IRS and California FTB are cutting many individuals and businesses some slack. For federal income taxes, we now have until July 15 to file and pay what we owe. For a full [...]

By |2020-03-25T18:14:27-04:00March 19th, 2020|Categories: Blog, COVID-19, Tax|Tags: , |0 Comments

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

How Business Owners may be Able to Reduce Tax by Using an S Corporation

Do you conduct your business as a sole proprietorship or as a wholly owned limited liability company (LLC)? If so, you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill [...]

By |2020-02-18T19:50:52-05:00February 18th, 2020|Categories: Blog, Tax|Tags: |0 Comments

Do You Want To Go Into Business For Yourself?

Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. You may qualify for the pass-through deduction. To the extent your business generates qualified business [...]

By |2020-02-11T19:17:33-05:00February 11th, 2020|Categories: Audit, Blog, Tax|0 Comments