New COVID-19 relief law extends employee retention credit
March 23, 2021
Many businesses have retained employees during the COVID-19 pandemic and enjoyed tax relief with the help of the employee retention credit…
The latest on COVID-related deadline extensions for health care benefits
March 15, 2021
The U.S. Department of Labor (DOL) recently issued EBSA Disaster Relief Notice 2021-01, which is of interest to employers. It clarifies the…
Business TaxesTax AdviceBusiness
Launching a small business? Here are some tax considerations
March 9, 2021
While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of…
Business TaxesBusinessCOVID-19
PPP loans have reopened: Let’s review the tax consequences
February 15, 2021
The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re…
Business TaxesBusinessCOVID-19
One reason to file your 2020 tax return early
February 8, 2021
The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years…
Business TaxesBusinessCOVID-19
Getting more for your marketing dollars in 2021
February 1, 2021
A new year has arrived and, with it, a fresh 12 months of opportunities to communicate with customers and prospects. Like every year, 2021…
Business TaxesBusinessCOVID-19
The new Form 1099-NEC and the revised 1099-MISC are due to recipients soon
January 29, 2021
There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to…
Business TaxesBusinessCOVID-19
Don’t forget to take required minimum distributions this year
January 28, 2021
If you have a traditional IRA or tax-deferred retirement plan account, you probably know that you must take required minimum distributions…
Business TaxesBusinessCOVID-19
PPP Second Draw – Program Analysis, Eligibility, and Instructions
January 19, 2021
Summary: On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (CAA, 2021) into law. The CAA includes…
The Balanced Scorecard approach to strategic planning
January 12, 2021
In the early 1990s, the Balanced Scorecard approach to strategic planning was developed to enable business owners to better organize and…
The right entity choice: Should you convert from a C to an S corporation?
January 8, 2021
The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide…
Need another PPP loan for your small business? Here are the new rules.
January 7, 2021
Need another PPP loan for your small business? Here are the new rules. Congress recently passed, and President Trump signed, a new law…
Business TaxesBusinessCOVID-19
What’s better than PPP? PPP + ERC! – Expansion of the employer retention credit under new law
January 6, 2021
What’s better than PPP? PPP + ERC! – Expansion of the employer retention credit under new law The CARES Act supports certain employers that…
Prevent and detect insider cyberattacks
January 4, 2021
In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization, then used stolen…
Your taxpayer filing status: You may be eligible to use more than one
December 30, 2020
When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on…
2020 Tax Planning
November 20, 2020
Now, as year-end approaches, is a good time to think about planning moves that may help lower your tax bill for this year and possibly…
Putting the finishing touches on next year’s budget
November 20, 2020
By now, some businesses have completed their 2021 budgets while others are still crunching numbers and scrutinizing line items. As you put…
Taking distributions from a traditional IRA
November 19, 2020
Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA),……
Health Savings Accounts for your small business
November 16, 2020
Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be interested…
How Series EE savings bonds are taxed
November 10, 2020
Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe…
Do you want to withdraw cash from your closely held corporation at a low tax cost?
November 9, 2020
Owners of closely held corporations are often interested in easily withdrawing money from their businesses at the lowest possible tax…
Should you go phishing with your employees?
November 6, 2020
Every business owner is aware of the threat posed by cybercriminals. If a hacker were to gain access to the sensitive data about your…
Disability income: How is it taxed?
November 3, 2020
Many Americans receive disability income. You may wonder if — and how — it’s taxed. As is often the case with tax questions, the answer is…
Tax responsibilities if your business is closing amid the pandemic
November 2, 2020
Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any…