With all of the changes we’ve experienced in 2020, we strongly recommend reviewing your tax documentation and other financial information before the end of the year. We conduct year-end tax…
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As tax and financial professionals, we encourage you not to wait until January to make your plans for 2021. There are many opportunities available for financial planning that can positively…
The 2017 Tax Cuts and Jobs Act introduced some significant changes to the way businesses could handle deductions for business meals and entertainment expenses. Although the TCJA guidelines for these…
Updated January 14, 2021 It’s been a doozy of a year for small businesses and keeping up with changes to the Paycheck Protection Program has become another full-time job for…
The vast majority of businesses have depreciable assets: company property, buildings, equipment, vehicles, etc. Because they are used for business purposes, claiming depreciation of these assets helps to reduce the…
When the Paycheck Protection Program was initially announced, many self-employed individuals were relieved to learn that they were eligible for the forgivable loan. If you’re self-employed and received PPP funds,…
Small businesses that applied for the Paycheck Protection Program, as of August 10th, can begin submitting requests for loan forgiveness. However, the SBA has continued to tweak the rules for…
President Trump made major headlines in August with his Executive Order deferring payroll tax withholding, deposit, and payment from September 1 to December 31, 2020. Although the order is now…
Updated January 14, 2021 In June of 2020, the ABA Banking Journal reported that 7 out of 10 businesses nationally have received PPP funds. These businesses are focused on ensuring…
Updated January 14, 2021 With the passage of the Paycheck Protection Program Flexibility Act (PPPFA), the SBA has released two new loan forgiveness applications. These are designed to make the…
