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Tax Provisions in Recently Passed Infrastructure Bill

November 15, 2021

While most of the Infrastructure Investment & Jobs Act (IIJA) is focused on physical infrastructure projects across the country, there are a handful of tax provisions included in the bill […]

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Ex-Spouse Health Insurance Premiums Deductible as Alimony

November 13, 2021

When it comes to divorce, alimony and taxes, it is not uncommon to have a lot of questions. While most are answered with the ubiquitous “it depends,” the question of […]

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Now is a Good Time to Check Your Withholding

November 12, 2021

Have you been having enough taxes withheld from your paycheck this year? Have you experienced some unexpected financial changes? If you think you may be off in terms of taxes due, […]

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Work Opportunity Tax Credit Available to Help Employers Hire Workers

November 5, 2021

Are you having trouble hiring workers lately? The IRS wants to remind employers to check the Work Opportunity Tax Credit which is available to help companies hire long-term unemployment recipients […]

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Social Security Wage Cap & Benefit Amounts Increase for 2022

November 5, 2021

To account for cost of living adjustments and inflation, the Social Security wage cap will be $147,000, and Social Security and Supplemental Security Income (SSI) benefits will increase by 5.9 percent. […]

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prepare for disaster

Make Sure You Are Prepared for a Disaster

October 9, 2021

The IRS has reminded taxpayers to develop emergency preparedness plans due to an active hurricane season, the ongoing threat of wildfires in some parts of the country and other natural […]

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employee v. contractor

IRS is Watching How You Classify Workers

October 9, 2021

This comes up quite frequently, but it is still important enough for the IRS to issue a reminder about correctly determining whether the individuals providing services to businesses were employees […]

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luxury car depreciation rates

IRS Issues Luxury Auto Depreciation Caps and Lease Inclusion Amounts

September 30, 2021

If your business owns or leases luxury vehicles, this could be important to your 2021 tax planning. Luxury Passenger Car Depreciation Caps The luxury car depreciation caps for passenger cars placed […]

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employee retention tax credits

How to Claim Employee Retention Credit in Q3 and Q4 of 2021

September 23, 2021

The IRS has issued guidance for employers claiming the employee retention credit. In general, eligible employers can claim a refundable employee retention credit against the employer share of Social Security tax […]

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PPP Loan Forgiveness

PPP Direct Forgiveness Portal Created & Why the Loan Questionnaire Was Discontinued

September 13, 2021

Are you still waiting to hear of your PPP loan was forgiven? You are not alone. PPP Direct Forgiveness Portal The SBA announced that it is launching a streamlined application […]

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IRS Per Diem Rates 2021

IRS Updates Per Diem Rates

September 7, 2021

If you travel for business, you will likely have expenses to write off in one of two ways: recording actual expenses (with back-up receipts) or using per diem rates established […]

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Infrastructure Bill Could Put an End to Employee Retention Tax Credits

August 19, 2021

The much-discussed Infrastructure Investment and Jobs Act passed by a vote of 69-30 in the Senate in mid August. The next step will happen next week when the Senate is […]

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