With so many small businesses struggling to survive the pandemic, the last thing any S-Corporation or shareholder wants to have to deal with is a big tax bill. One way…
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2/23/2021 UPDATE: President Biden’s administration has enacted a regulatory freeze that impacts the DOL’s ruling employment classifications. We do not expect the new employees vs. contractors rule described in this…
Voters in Duval and Clay Counties of Florida have elected to increase their local sales tax rate by a half-cent, effective January 1, 2021. The new Jacksonville sales tax rate…
The latest COVID-19 stimulus bill is one of the largest pieces of legislation to be passed by Congress and signed into law by the President. The $900 billion bill will…
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…
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,…
