The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp CARES Act Emergency Loans Small Business Guide and Checklist
Read MoreAs COVID-1c9o continues to upend nearly every aspect of life in the United States, Congress has been working to relieve suffering Americans. Having passed the Families First Coronavirus Response Act on March 18 in an effort to limit the spread of the pandemic and support relief efforts, Congress turned to stabilizing the economy.
Read MoreWe want to take the time to thank you for your continued business with us. We also want to update you on our response as we weather this microbial storm. Please know that we are, as always, committed to providing timely and accurate tax and financial reporting.
Read MoreThe Tax Cuts and Jobs Act (TCJA) made a significant impact on the deductibility of various types of interest expense for individuals. One area affected is qualified residence interest. This article reviews the TCJA’s effect on this type of interest. A sidebar looks at the law’s impact on investment interest.
Read MoreThe Tax Cuts and Jobs Act (TCJA) made a significant impact on the deductibility of various types of interest expense for individuals. One area affected is qualified residence interest. This article reviews the TCJA’s effect on this type of interest. A sidebar looks at the law’s impact on investment interest.
Read MoreDespite the prevalence of Web-based meetings, many of today’s businesses still have plenty of employees who travel. If you still have sales staff or other workers out on the road, and you’re reimbursing them on a tax-free basis for their travel expenses, it’s important for you as the employer to stay up to date on the rules that determine the location of a person’s tax home.
Read MoreOwnership of your assets plays an important role in whether they can be seized by creditors. Thus, it might be wise in some situations to transfer ownership of certain assets to your spouse.
Read MoreTo qualify for a bad debt deduction, the underlying debt must be bona fide. That is, you must have loaned the money or extended credit with the expectation that you would be repaid and with the intent to enforce collection if you weren’t repaid.
Read MoreIt’s common for owners of closely held businesses to transfer money into and out of the company. But it’s critical to make such transfers properly. If you don’t, you might hear from the IRS.
Read MorePaying spouses will argue that, without the benefit of the alimony deduction, they can’t afford to pay as much as under previous rules.
Read More
