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 […]

The IRS has provided a safe harbor for deducting expenses if a Paycheck Protection Program (PPP) loan isn’t forgiven. The […]

Interim final regulations are issued on the requirement that employer health plans provide COVID-19 services. These provisions shorten the time […]

Here are a few key tax-related deadlines for businesses and other employers during Quarter 4 of 2020. OCT. 15: If […]

The net operating loss (NOL) deduction is currently: 1) the total of the NOLs arising before 1/1/18 that are carried […]

On July 4, President Trump signed a bill that gives businesses more time to seek federally backed loans. It extends […]

The IRS has issued final regulations regarding the qualified business income (QBI) deduction. The regs provide guidance on the treatment […]

Generally, taxpayers who take distributions from tax-favored retirement accounts before age 59½ must pay a 10% tax penalty. They must […]

The CARES Act allows qualified people to take “coronavirus-related distributions” from retirement plans without paying tax. So how do you […]

The Small Business Administration (SBA) continues to help businesses recover from the effects of the COVID-19 crisis. Taxpayers can apply […]

Valuable tax credits are available to employers to help mitigate the effects of the COVID-19 pandemic. But amid the chaos […]

On June 4, the U.S. Senate passed the Paycheck Protection Program (PPP) Flexibility Act of 2020. The president is expected […]

The IRS has issued FAQs for C corporations that are interested in carrying back net operating losses (NOLs) to years […]

The IRS has postponed deadlines for time-sensitive actions with respect to certain employment taxes, employee benefit plans, exempt organizations, IRAs, […]

In new guidance, the IRS has provided more coronavirus (COVID-19) deadline relief for employment taxes, employee benefit plan and other […]