In this “Money Talks Minute,” Certified Exit Planning Adviser K.C. Smith, CFP®, explains how as a small-business owner, your business has played a major role in your life. It’s where you have dedicated years of hard work, taken risks, overcome challenges and celebrated milestones. Despite your success, looking at your future without your business can be daunting.
When multiple business entities make a decision to start a new business together as a cooperative arrangement, they form what is known as a joint venture. In creating a joint venture, each of the involved entities agrees to what assets they will contribute, how they are going to distribute income and share expenses, and how the new entity will move forward.
If you are a small-business owner, chances are you have heard of and dealt with the headaches surrounding the Paycheck Protection Program, deferral of payroll taxes, and remote working. Tax and Business Consultant Emily Rubenstein, CPA, shares the tax consequences some small-business owners may face in this Small Business Minute. This article is for demonstrative…
To help trades and businesses to retain employees and keep them employed during the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act created the Employee Retention Credit for 2020. As part of the Consolidated Appropriations Act, 2021 (CCA), the credit has been extended through June 2021.
The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision that liberalized the interaction between PPP loans and the Employee Retention Credit (ERC).
As tax time approaches, we list out 20+ tax issues that taxpayers frequently overlook, ranging from obscure deductions to overlooked tax credits and benefits.
Many companies have transitioned to having a majority of their employees work from home. Even when the pandemic eventually subsides, working remotely may be here to stay.
For 2021 and 2022 only, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 allows businesses to deduct 100% of business meal expenses.
In the Consolidated Appropriations Act, 2021, is a second draw of forgivable Paycheck Protection Program (PPP) loans.
We provide an overview of many of the tax provisions included in the Consolidated Appropriations Act, 2021.
