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 […]
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 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 […]
October 23, 2020

Are You Paying Too Much Interest on Your Home Mortgage?

Interest rates are currently at an all-time low, and it may be time for you to consider refinancing your existing home mortgage to take advantage of […]
October 2, 2020

Are You Ready for the 1099-NEC?

The Internal Revenue Service has resurrected a form that has not been used since the early 1980s, Form 1099-NEC (the NEC stands for Non-Employee Compensation). This […]
September 11, 2020

Is the Temporary Deferral of Employee Payroll Tax Worth It?

May 1, 2020

Expenses Paid With Forgiven Portion of PPP Loan Are Not Deductible

The Paycheck Protection Program (PPP) Loans have drawn all types of struggling businesses during this COVID-19 crisis. The primary draw was the added provision of 100% […]