WOTC 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 […]
PPP Loan Forgiven Expenses Aren’t Deductible
Did you know that PPP loan forgiven expenses aren’t deductible? The IRS has issued guidance clarifying that certain deductions aren’t allowed if a business has received a […]
Amending Returns for Retroactive COVID-19 Tax Relief
The $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) delivers meaningful tax relief to individuals and businesses. Some of that relief is retroactive, which […]
Best Practices for PPP Loan Forgiveness
Congratulations on receiving your Paycheck Protection Program (PPP) loan! We hope it provides much needed cash during these uncertain times. Now that you have the funds,
Availability of Home Office Deductions
If you’re self-employed and work out of an office in your home, don’t forget the availability of home office deductions. However, you must satisfy strict rules.
Reduce Tax with 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 […]
Going Into Business for Yourself
When you make the decision of going into business for yourself, you’ll find that many people who launch small businesses start out as sole […]
Guidance on PPP Loan Calculations for Self-Employed Individuals
The Small Business Administration (SBA), in consultation with the Department of the Treasury, has issued guidance to assist businesses in […]
Employment Tax Deposit Deferral FAQs
On its website, IRS has issued FAQs on the deferral of the deposit and payment of the employer’s share […]
Employment Tax Deposit Relief via COVID-19 Tax Credits
The IRS has issued guidance providing employment tax deposit relief for employers that are entitled to the refundable tax credits provided under […]
