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2020 – 01/11 – Can your business benefit from the enhanced Employee Retention Tax Credit?
COVID-19 has caused widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligible for a refundable […]
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2021 – 01/15
Businesses that generally report payments to workers on Forms 1099-MISC will need to adapt. Beginning with the 2020 tax year, […]
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2020 – 11/30 – Small businesses: Cash in on depreciation tax savers
The Section 179 deduction provides a tax benefit to businesses, enabling them to claim immediate deductions for qualified assets, instead […]
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2020 – 12/10
The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) increased the maximum amount of an employee’s compensation, from […]
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2020 – 12/01
The IRS has offered clarification on the interaction of the COVID-19-related Employer Retention Credit (ERC) in acquisitions. Under the law, […]
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2020 – 11/20
The IRS has provided a safe harbor for deducting expenses if a Paycheck Protection Program (PPP) loan isn’t forgiven. The […]
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2020 – 11/11
The IRS will issue SALT deduction regs for pass-through entities. The regs will clarify that specified income tax payments are […]
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2020 – 11/05
Interim final regulations are issued on the requirement that employer health plans provide COVID-19 services. These provisions shorten the time […]
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2020 – 10/08
What are excise taxes and does your business owe them? An excise tax is imposed on the sale of specific […]
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2020 – 08/24 – CARES Act made changes to excess business losses
The CARES Act made changes to excess business losses that affect those who hold an interest in a business (or […]
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2020 – 09/22
Final guidance is available for decedent’s estates and non-grantor trusts on the treatment of certain deductions. The Tax Cuts and […]
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2020 – 09/14 – 2020 Q4 tax calendar: Key deadlines for businesses and other employers
Here are a few key tax-related deadlines for businesses and other employers during Quarter 4 of 2020. OCT. 15: If […]
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2020 – 07/07
The net operating loss (NOL) deduction is currently: 1) the total of the NOLs arising before 1/1/18 that are carried […]
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2020 – 07/06
On July 4, President Trump signed a bill that gives businesses more time to seek federally backed loans. It extends […]
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2020 – 06/25
The IRS has issued final regulations regarding the qualified business income (QBI) deduction. The regs provide guidance on the treatment […]
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Business Tax