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Pandemic-Related Payroll and Self-Employment Tax Relief Explained
While it seems like ages ago, the Families First Coronavirus Response Act (FFRCA) was passed 10 months year ago, providing businesses incentives to retain their workforce through various tax relief […]
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Paycheck Protection Program Reopens – What You Need to Know
Congress passed the Consolidated Appropriations Act (CAA) on December 27, 2020, adding to, and building on, the support provided by the original act passed in May. Part of this 5500-page […]
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Making Intrafamily Loans and Creating a Family Bank
Estate planning allows you to put in writing how you want your wealth distributed to loved ones after your death. What if you want to use that wealth to help […]
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Much Needed Help for Entertainment Venues Included in Recent Stimulus Bill
While we are all in the same ocean, we aren’t all in the same boat when it comes to the impact the pandemic has had on our lives and businesses. […]
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PPP Updates from the Stimulus Package
Back in mid-November, we wrote this article stating that expenses paid with Paycheck Protection Program (PPP) loan proceeds are not deductible. And it was true at the time. We also stated that […]
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Handle Mutual Funds With Care at Year End
As the year is coming to a close, it is a good time to review any mutual fund holdings in your taxable accounts and and do what is necessary to […]
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Have You Reviewed Sales Tax Laws Lately?
The U.S. Supreme Court ruled in South Dakota v. Wayfair over two years ago. The ruling said that states may require out-of-state sellers to collect sales and use tax even if they […]
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Do You Know Your Taxpayer Filing Status?
Most of us are ready for 2020 to end. From a tax perspective, however, the end of the year means thinking about the filing status you’ll use when filing your […]
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IRS States that Expenses Paid with PPP Loan Proceeds Are Not Deductible
There has been a lot of confusion and discussion about what is, and is not, deductible when it comes to Paycheck Protection Program (PPP) loan funds. While it was clear […]
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Watch Out for “Wash Sales” When Selling Securities
If you have realized gains during the year and are planning to sell capital assets at a loss to offset to those gains, beware of the “wash sale” rule. Basically, if you […]
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Do You Need a Cost Segregation Study?
The COVID-19 crisis has hit all of us, but some more than others. If you own one of the many companies that need to conserve cash and reduce expenditures on […]
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Helping Those in the Sandwich Generation
Most people love a good sandwich, but in this case, being in the “sandwich generation” can be a real challenge. Originally coined to describe Baby Boomers caught between caring for their […]
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