Biden administration proposes far-reaching tax overhaul
If you're trying to keep straight all of the tax proposals the Biden administration has recently announced, here's a handy guide.
New rules for non-profits to report gifts in kind
(such as land or services) take effect for annual periods starting after June 15. So if you haven’t already familiarized yourself with the rules, now’s the time.
Liabilities for unused time off mount as pandemic lingers
From staycations to road trips, people are using paid time off differently (or not at all) during the pandemic. When employees forego paid leave, employers may see their accruals skyrocket. Plus, there may be hidden costs, too.
President Biden details his tax proposals for individuals
What could President Biden’s tax proposals mean for you? Here’s a brief rundown of the “American Families Plan.”.
EIDL loans, restaurant grants offer relief to struggling small businesses
Could your small business or restaurant use a tax-advantaged loan from the Small Business Administration? A recently passed COVID-relief act offers a couple of intriguing options.
PPP application deadline extended
Eligible businesses affected by the COVID-19 pandemic now have until May 31 to apply for a PPP loan. Here’s the latest on the popular loan program.
4 Ways to improve the effectiveness of your audit committee
Does your audit committee need a makeover to tackle what lies ahead? Here’s guidance to devise a proactive governance and oversight agenda for 2021.
Make the most of employee retention credit
Is your business taking full advantage of the Employee Retention Credit?
Extended tax filing deadline provides relief to individual taxpayers and the IRS
Due to the pandemic and an unprecedented backlog of tax returns waiting to be processed, the IRS has postponed the federal tax filing deadline to May 17, 2021.
New legislation proposes to help "rescue" nonprofits
No one needs to tell nonprofit organizations how tough the past year has been. According to the John Hopkins Center for Civil Society Studies, 7.7% of not-for-profit workers — nearly one million people — lost their jobs between February 2020 and January 2021. An even higher percentage of arts and education organizations lost jobs last year. Although the nonprofit sector received higher-than-usual donations in 2020, many nonprofits that sought COVID-19-related loans were shut out.
New COVID-19 relief law extends employee retention credit
The recent signing of the American Rescue Plan Act (ARPA) brings potentially good news for many business owners: the employee retention credit (ERC) has been extended again. The ERC was originally introduced under the CARES Act to provide tax relief to companies that retain employees during the COVID-19 pandemic. It was then extended and enhanced under the Consolidated Appropriations Act. The ARPA further extends the ERC from June 30, 2021, until December 31, 2021. It also extends the higher percentage of 70% of qualified wages, as well as the allowance for up to $10,000 in eligible wages for any calendar quarter. We can explain further and help you determine whether your business qualifies.
The American Rescue Plan Act has passed: What's in it for you?
The latest COVID-19 related stimulus bill, the American Rescue Plan Act, has now passed. How can you benefit?