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How to Claim Employee Retention Credit in Q3 and Q4 of 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 […]
PPP Direct Forgiveness Portal Created & Why the Loan Questionnaire Was Discontinued
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 […]
IRS Updates Per Diem Rates
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 […]
Infrastructure Bill Could Put an End to Employee Retention Tax Credits
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 […]
Interim and Proposed Regulations for No Surprise Billing Act
No one likes to receive an unexpected bill, especially from a healthcare provider. With that in mind, the Departments of the Treasury, Labor, and Health and Human Services have issued […]
Should You Convert Your IRA to a Roth?
Investors have been discussing whether a traditional or Roth IRA is best as long as they have both been around. One factor that might tip the scales toward a Roth […]
Sales Tax Benefit for Businesses that Sell Meals
Does your business sell meals? If so, you may be eligible to retain the sales tax collected on the sale of these meals due to legislation recently enacted by the […]
Beware of Child Tax Credit Scams
It is sad, but when there is a chance to prey on people, there is always someone that takes that opportunity. This time it is a number of scams where […]
Business Owners Can Claim Tax Credits for Employee Sick Leave
Under the American Rescue Plan Act of 2021 (ARP) ( P.L. 117-2), small and midsize employers and certain government employers are entitled to claim refundable tax credits that reimburse them […]
Take Your Client Out for Dinner
With so many tax changes taking place over the last few years, it is hard to keep up with everything that is going on. However, this one is worth a […]
Advance Child Tax Credit Update & Why You May Want to Opt Out
The IRS has started sending letters to over 36 million families who, based on tax returns filed, became eligible to receive monthly child tax credit payments starting July 15. Eligibility […]
The IRS Answers American Rescue Plan Tax Credit Questions
The IRS recently answered some of the most frequently-asked-questions from families and small and mid-sized employers about claiming credits under the American Rescue Plan (ARP). These FAQs provide information on […]