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Haven’t filed your 2019 business tax ret

The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment and filing deadlines that otherwise would have fallen on or after April 1, 2020, and before July 15. Retroactive COVID-19 business relief The Coronavirus Aid, Relief and Economic Security (CARES) Act, which passed earlier…

Business charitable contribution rules h...

In light of the novel coronavirus (COVID-19) pandemic, many businesses are interested in donating to charity. In order to incentivize charitable giving, the Coronavirus Aid, Relief and Economic Security (CARES) Act made some liberalizations to the rules governing charitable deductions. Here are two changes that affect businesses: The limit on charitable deductions for corporations has…

Payroll Protection Program (PPP) Loan Up...

Because the regulatory requirements surrounding the Payroll Protection Program (PPP) Loans are continuing to change, we feel it is crucial to update you on some recent developments:   Employers looking to rehire employees that have been receiving unemployment must make a good faith, written offer to rehire them. An employee who rejects that offer must…