January 22, 2021

Congress Has Authorized the Second Round of PPP Loans

Congress passed, and President Trump signed, the Consolidated Appropriations Act, 2021. Included in its approximately 5,600 pages is the second draw of forgivable Paycheck Protection Program […]
January 20, 2021

2021 Standard Mileage Rates Announced

The Internal Revenue Service (IRS), each year, computes standard mileage rates for the use of a vehicle for business, medical and moving purposes based on a […]
January 20, 2021

Charitable Contributions Deduction Liberalized for 2021

As a means to stimulate charitable contributions during the COVID crisis, Congress made two notable changes for 2020—one allowing taxpayers that don’t itemize their deductions an […]
January 12, 2021

The Consolidated Appropriations Act Opens the Employee Retention Credit up to PPP Borrowers!!

While all of us would rather forget and put 2020 behind us, the recent Act signed by the president made some retroactive changes to some of […]
December 30, 2020

Emergency COVID-19 Agreement Reached

After several months of the Republicans and Democrats not being able to agree on additional COVID-related tax relief and other matters, Congress configured much-needed legislation. The […]
December 28, 2020

Your Annual Reminder to File Worker 1099s

This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for […]
December 9, 2020

Employee Holiday Gifts May Be Taxable

It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market […]
December 7, 2020

Don’t Fall Behind in Saving for Retirement

Some folks have been tapping or suspending their retirement savings to make ends meet during this COVID-19 pandemic, and although understandable, it is important that they continue […]
December 2, 2020

Tax Planning Strategies for Small Businesses

If you are a small business owner, every penny of your income counts. This means that you not only want to optimize your revenue, but also […]