PPP Loans Have Reopened: Let’s Review the Tax Consequences

PPP Loans Have Reopened: Let’s Review the Tax Consequences

The SBA announced that the PPP reopened the week of January 11. Are you wondering about the tax consequences of PPP loans received during the pandemic?
The Enhanced Employee Retention Tax Credit (ERTC)

The Enhanced Employee Retention Tax Credit (ERTC)

COVID-19 has caused widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls may meet qualify for a refundable ERTC.
New Law Makes Changes to Business Meal Deductions and PPP Loans

New Law Makes Changes to Business Meal Deductions and PPP Loans

The Consolidated Appropriations Act provides new relief to the pandemic. It also includes increases to business meal deductions and changes to PPP loans.
Finally, The COVID Relief Package Is Law. What Does That Mean for You?

Finally, The COVID Relief Package Is Law. What Does That Mean for You?

Now that the COVID-relief package is law, we have details. This article provides an overview of the many tax provisions included in the legislation,
Mortgage Insurance Premium Deduction Retroactively Extended

Mortgage Insurance Premium Deduction Retroactively Extended

This mortgage insurance premium deduction has been retroactively extended back to 2018 and through 2020. Consider amending your 2018 return for a refund.
IRS Releases Final Version of Form 941-X Related to COVID-19 Relief

IRS Releases Final Version of Form 941-X Related to COVID-19 Relief

The IRS significantly revised Form 941-X. This form allows for adjustments and corrections to COVID-19 tax relief on previously filed Forms 941
Preparing for 2021: Tax Planning Strategies for Small Business Owners

Preparing for 2021: Tax Planning Strategies for Small Business Owners

If you are a small business owner, every penny counts. So, you not only want to optimize your revenue but also minimize your expenses and your tax liability
The Solar Credit is Sunsetting Soon--Should You Take Advantage Now?

The Solar Credit is Sunsetting Soon--Should You Take Advantage Now?

The solar credit is fading away. After being 30% of the cost for many years through 2019, the credit drops to 26% in 2020. In 2021, it drops again to 22%.