New IRS Form 1099-NEC And Revised 1099-MISC Are Due To Recipients Soon

There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by February 1, 2021. After sending the forms to recipients, taxpayers must file the forms [...]

By |2021-01-25T13:26:22-05:00January 25th, 2021|Categories: Blog, Tax|Tags: , , , , , |Comments Off on New IRS Form 1099-NEC And Revised 1099-MISC Are Due To Recipients Soon

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

California Small Business Support

California Governor Gavin Newsom has announced a variety of ways the state is supporting small businesses impacted by COVID-19. Resources for California businesses include temporary tax relief, the Main Street Small Business Tax Credit, cash grants, the California Rebuilding [...]

By |2020-12-15T12:26:02-05:00December 15th, 2020|Categories: Blog|Tags: , , , , , , , , , |Comments Off on California Small Business Support

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

Prepare in Advance to Easily Survive IRS Audits

IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But if your properly plan and prepare for IRS audits, you should fare well. [...]

By |2020-10-05T13:17:20-04:00October 5th, 2020|Categories: Audit, Blog, Tax|Tags: , , , , |Comments Off on Prepare in Advance to Easily Survive IRS Audits

The Tax Rules For Deducting The Computer Software Costs Of Your Business

Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others? Then you should be aware of the complex tax rules [...]

By |2020-10-26T13:19:11-04:00September 29th, 2020|Categories: Blog, Tax|Tags: , , , , , |Comments Off on The Tax Rules For Deducting The Computer Software Costs Of Your Business

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

Businesses: Get Ready For the New Form 1099-NEC

There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or more to a payee. Why the [...]

By |2020-07-13T14:13:41-04:00July 13th, 2020|Categories: Blog, Tax|Tags: , , , , |Comments Off on Businesses: Get Ready For the New Form 1099-NEC
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