If your business was damanged during the recent riots, insurance may cover some, or all of the losses, and you might also qualify for a tax break.Read More
Archive for the ‘Tax’ Category
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CARES Act Provides 4 Possible Reasons to File an Amended Return
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides provisions that may make it advantageous to file an amended return for your businessRead More
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Business Charitable Contribution Rules Have Changed Under the Cares Act
If your business is donating to charity to help ease the pain from COVID-19, you may be eligible for enhanced charitable deductions for donations.Read More
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Increase the Chances of Having Your PPP Loan Forgiven
You got a loan from the Paycheck Protection Program…now what? Here are a few steps you can take to help ensure your PPP loan is forgiven.Read More
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New COVID-19 Law Makes Favorable Changes to “Qualified Improvement Property”
The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for qualified improvement property (QIP)Read More
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COVID-19 Tax Relief: TCJA Loss Limitation Rules Are Eased
The CARES Act provides relief measures allowing liberalized deduction rules for losses that were previously limited by provisions in the TCJARead More
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Adjusting Your Financial Statements for COVID-19 Tax Relief Measures
Amid the COVID-19 crisis, it’s critical to stay atop a barrage of tax law changes that may affect quarterly and year-end reporting.Read More
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Relief From Not Making Employment Tax Deposits Due to COVID-19 Tax Credits
The coronavirus (COVID-19) crisis has resulted in unprecedented challenges for employers. Here are the details of some relief from the federal government.Read More
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New Law Retroactively Fixes QIP Drafting Mistake
The CARES Act contains a technical correction that makes real estate qualified improvement property eligible for faster depreciation.Read More
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Coronavirus Related Tax Scams to Watch Out For
The IRS is warning taxpayers to beware of new coronavirus related tax scams concerning the forthcoming economic impact paymentsRead More