How to Calculate and Claim ERC
The Employee Retention Credit (ERC) was introduced in March 2020 as part of the CARES Act. The ERC is a refundable payroll tax credit against employee wages designed to make...
11 March, 2021
small business Tag
Self-Employed: COVID-19 Tax Credits
Self-employed individuals may be entitled to tax credits related to COVID-19. A self-employed individual who regularly carries on a trade or business, and would have been eligible for qualified sick leave...
03 February, 2021
Extension of COVID-19 Employee Retention Credits
This may be one of the most important sections of the December 2020 Tax Act for Businesses. It may provide significant tax credits on Forms 941 and 944. Original Employee Retention...
06 January, 2021
Error Fixed for Bonus Depreciation for Qualified Improvement Property
Bonus Depreciation for Qualified Improvement Property – Technical Error Fixed Due to a technical error in the December 2017 tax act, qualified improvement property placed in service after December 31, 2017,...
06 January, 2021
Dec. 2020 Changes to Paycheck Protection Program
Paycheck Protection Program – December 2020 Changes The Consolidated Appropriations Act changes the PPP Loan Program primarily in three ways.First, the Act allows new PPP loan applications to be submitted...
06 January, 2021
Changes to 1099 Fillings
New 1099-NEC and other 1099 Revisions. Don’t forget, you must provide 1099s for 2020 to workers no later than Feb. 1, 2021. The forms are normally due Jan. 31, but since...
14 December, 2020
QuickBooks: 10 Tips for Better Budgeting
10 Tips for Better Budgeting…and how QuickBooks Online can help you with the mechanics.If you already have a budget, it’s probably been difficult for you to stick with it for...
10 December, 2020
Small Business Tax Advantages
This article explains the benefits of being a “small” business. “Small” is bigger than ever! Is your business eligible for expanded tax benefits? Small businesses enjoy several tax advantages that may allow...
18 November, 2020