In the News

Copyright 2021
The Consolidated Appropriations Act (CAA) extends, liberalizes and expands the Paycheck Protection Program (PPP). Originally established by the CARES Act, the PPP expired on August 8, 2020. Now the CAA resurrects it. Here are the most important things small businesses should know from this section of the new law.
Copyright 2020

In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization, then used stolen customer lists to start his own mortgage business. The perpetrator hacked the protected records by sending an email containing malware to a coworker.

Copyright 2021

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations Act of 2021 (CAA), which also includes other laws within it.

Business meal deduction increased

Copyright 2021

COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit (ERTC), which was extended and enhanced in the latest law.

Background on the credit

The CARES Act, enacted in March of 2020, created the ERTC. The credit:

Copyright 2020
In many manufacturing plants, a parts room occupies considerable space, uses non-value-added staff and takes employees away from their jobs to get the supplies they need. Is there a more-efficient setup? Some plants are switching to satellite stocking programs to be more nimble and cost effective.
Copyright 2020
Three bricklayers are working on a job site. The first describes his job as "laying brick," while the second says he's "building a wall." But the third explains he's "constructing a children's cancer research facility."
Copyright 2020
Every year, studies show that many employees are injured while carrying out their duties. Some even die from job-related illnesses or injuries
Copyright 2020
As your not-for-profit strives to use its resources as effectively as possible, you might at some point consider outsourcing the functions that fall under your accounting and financial umbrella. But wait: You'll first need to weigh the possible benefits and pitfalls.
Copyright 2020
Medical expenses can be costly — and they're not always covered by insurance. But there may be a silver lining: You may be able to claim an itemized deduction for the amounts you pay for medical, dental and vision care, if you incur enough costs to exceed the applicable threshold for the tax year. Here are the details about this deduction.
Copyright 2020
Economic fallout from the COVID-19 pandemic has sadly forced some small businesses to permanently close. This situation has important federal tax implications. Here's what individual taxpayers who are owners of so-called "pass-through" entities and C corporations should know.

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