New Year, New Employee Retention Tax Credit Opportunities

The enactment of the 2021 Consolidated Appropriations Act created more opportunities for using the Employee Retention Tax credit (ERC).  The original ERC is a provision of the Coronavirus Aid, Relief and Economic Security Act (CARES Act). It provides a [...]

By |2021-01-06T14:03:12-05:00January 6th, 2021|Categories: Blog, Cole Marr, Gregory C. Brown, Tax|Tags: , , , , , , |Comments Off on New Year, New Employee Retention Tax Credit Opportunities

2021 Q1 Tax Calendar: Key Tax-Related Deadlines for Businesses

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. And there [...]

By |2020-12-21T12:37:33-05:00December 21st, 2020|Categories: Blog, Tax|Tags: , , , , , , , |Comments Off on 2021 Q1 Tax Calendar: Key Tax-Related Deadlines for Businesses

Drive More Savings to Your Business with the Heavy SUV Tax Break

Are you considering replacing a car that you’re using in your business? There are several tax implications, like the heavy SUV tax break, to keep in mind. A Cap on Deductions Cars are subject to more restrictive tax depreciation [...]

By |2020-12-14T13:44:20-05:00December 14th, 2020|Categories: Blog, Tax|Tags: , , , , , |Comments Off on Drive More Savings to Your Business with the Heavy SUV Tax Break

Clarity on PPP Forgiveness and Deductible Expenses

In late November, the Internal Revenue Service (IRS) issued a Revenue Ruling and a Revenue Procedure to clarify the Paycheck Protection Program (PPP) loan forgiveness and deductible expenses. These are expansions on Notice 2020-32 released by the IRS in [...]

By |2020-12-02T18:53:08-05:00December 2nd, 2020|Categories: Blog, Tax|Tags: , , , , |Comments Off on Clarity on PPP Forgiveness and Deductible Expenses

Tax Responsibilities for Businesses Closing Amid the Pandemic

Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If your business is closing amid the pandemic, we’re here to assist you in any way we can, including taking care of the various tax obligations that must [...]

By |2020-11-02T14:56:22-05:00November 2nd, 2020|Categories: Blog, Tax|Tags: , , , , |Comments Off on Tax Responsibilities for Businesses Closing Amid the Pandemic

New Business? It’s a Good Time to Start a Retirement Plan

If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types of qualified plans that are eligible for these tax advantages: A current deduction from [...]

By |2020-10-26T15:13:56-04:00October 26th, 2020|Categories: Blog, Tax|Tags: , , , , , , |Comments Off on New Business? It’s a Good Time to Start a Retirement Plan

Business Website Costs: Guidance For Taxes

The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when Internet website costs can be deducted. Fortunately, established rules that generally apply to the deductibility of business costs, and IRS guidance [...]

By |2020-10-02T14:28:29-04:00September 21st, 2020|Categories: Blog, Tax|Tags: , , , |Comments Off on Business Website Costs: Guidance For Taxes

Tax Deadlines: 2020 Q4 Tax Calendar For Businesses

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep in mind that this list of tax deadlines isn’t all-inclusive, so there may be additional deadlines that apply to [...]

By |2020-10-26T13:37:58-04:00September 14th, 2020|Categories: Blog, Tax|Tags: , |Comments Off on Tax Deadlines: 2020 Q4 Tax Calendar For Businesses

Questions On Deferring Employees’ Social Security Taxes

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations. This guidance aims to address employers' questions and concerns about deferring employees’ [...]

By |2020-10-02T16:33:49-04:00September 8th, 2020|Categories: Blog, Tax|Tags: , , , |Comments Off on Questions On Deferring Employees’ Social Security Taxes

CARES Act Made Changes To Excess Business Losses

The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be opportunities for some businesses to file amended tax returns. If you hold an [...]

By |2020-10-02T16:58:26-04:00August 26th, 2020|Categories: Blog, Tax|Tags: , , , , , , , |Comments Off on CARES Act Made Changes To Excess Business Losses
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