business tax help in CT

How to Report the Impacts of a Disaster on Your Financial Statements

Business owners have learned a lot during this year of the COVID-19┬ápandemic. One unexpected lesson is how to report the impact of a disaster on your company’s financial statements. Under U.S. Generally Accepted Accounting Principles (GAAP), the impact of events such as year’s crisis are referred to as “subsequent events,” and there are two types: …

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Family and Medical Leave Act Credit an Option For Your Business?

When the Tax Cuts and Jobs Act passed, it created a new tax credit for certain employers that provide paid family and medical leave that was originally only available for the 2018 and 2019 tax years. However, in December, it was extended through 2020 for eligible employers with a written policy providing at least two …

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