by Sheri Hart | Jan 20, 2021 | Financial Planning, Payroll, Small Business, Tax
Happy New Year! While no one seems too sad to see the back of 2020, there is much to tackle as we head into 2021. Though more COVID-19 federal economic relief is still expected, measures passed at the end of 2020 and subsequent guidance have provided individuals and...
by Sheri Hart | Jan 6, 2021 | Business Strategy, Financial Planning, Payroll, Small Business, Tax
New law doubles business meal deductions and makes favorable PPP loan changes The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses....
by Sheri Hart | Sep 11, 2020 | Payroll, Small Business, Tax
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations. The three-page guidance in Notice 2020-65 was issued to implement President Trump’s...
by Sheri Hart | Aug 26, 2020 | Business Strategy, Financial Planning, Payroll, Small Business, Tax
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and Economic Security (CARES) Act,...
by Doug Kook | Jul 1, 2020 | Business Strategy, Small Business, Tax
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...