As the pandemic, and its physical, mental and financial toll, continues to rage, business owners are continuing to look for ways to lessen the negative impacts on their companies and do what they can to keep employees at the same time. In an attempt to help, President Trump recently issued an executive order eliminating the …
President Signs Executive Order Deferring Payroll Taxes Read More »
Generally withdrawing retirement account funds can be an expensive endeavor due to the taxes you have to pay on the transaction. However, a provision of the CARES Act allows tax-favored treatment for retirement account distributions in certain situations in an attempt to alleviate some of the economic hardship many Americans are experiencing as a result …
We have been doing our best to keep you up-to-date on everything going on in relation to COVID-19 and its impact on businesses and taxes. As we start hearing rumblings of things starting to slowly reopen, we wanted to make sure you had the latest information with which to make decisions. Paycheck Protection Program (PPP) …
As we mentioned in our blog post from last week, we are doing our best to keep you informed about any changes that may impact you, and not surprisingly, we do have additional information to share now. On the evening of March 20, the IRS released Notice 2020-18 which provided some clarification on 2019 tax return filings and …