News

Work Opportunity Tax Credit

Work Opportunity Tax Credit

Nov 17th, 2021

A valuable tax credit is available to certified businesses that hire long-term unemployment recipients and other groups facing significant barriers to employment. The Work Opportunity Tax Credit ...

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Social Security Benefits Increase for 2022

Social Security Benefits Increase for 2022

Nov 3rd, 2021

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022. The 5.9 percent cost-of-living adjustment (COLA) will begin ...

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Repayment of Deferred Social Security Taxes

Repayment of Deferred Social Security Taxes

Oct 25th, 2021

The IRS is currently sending informational-only CP256V Notices to self-employed individuals and household employers that chose to defer paying certain Social Security taxes under the CARES Act. The ...

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COVID-19 Economic Injury Disaster Loan (EIDL)

COVID-19 Economic Injury Disaster Loan (EIDL)

Oct 18th, 2021

In response to COVID-19, small business owners, including agricultural businesses and nonprofit organizations, in all U.S. states, Washington D.C., and territories, can apply for the COVID-19 Economic ...

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$25.5 Billion in “Phase 4” COVID-19 Provider Funding

$25.5 Billion in “Phase 4” COVID-19 Provider Funding

Oct 13th, 2021

Announced in September, the latest installment of COVID-19 relief includes $17 billion for health care providers (including dentists) under the Provider Relief Fund (PRF), and $8.5 billion more under ...

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3rd Quarter Estimated Tax Due 9/15

3rd Quarter Estimated Tax Due 9/15

Sep 9th, 2021

September 15, 2021, is the deadline for third quarter estimated tax payments. This generally applies to people who are self-employed and some investors, retirees and those who may not normally have ...

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Storing Your Important Estate Documents

Storing Your Important Estate Documents

Aug 24th, 2021

While perhaps not the most pleasant topic to think about, your estate planning should not be forgotten. After someone passes away, their spouse, child(ren), and/or other trusted individuals need to ...

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SBA Officially Closes Restaurant Revitalization Fund

SBA Officially Closes Restaurant Revitalization Fund

Aug 2nd, 2021

The U.S. Small Business Administration (SBA) announced the closure of the Restaurant Revitalization Fund (RRF) in July after awarding the program’s full $28.6 billion appropriation to more than 100 ...

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Meals and Entertainment Deductions Update

Meals and Entertainment Deductions Update

Jul 13th, 2021

Following the federal income tax treatment of business-related meal and entertainment expenses has been a rollercoaster ride in recent years. Here we will get you up to speed on the current deductions ...

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Sales Tax Holidays Update

Sales Tax Holidays Update

Jul 1st, 2021

Many states have annual sales tax holidays, during which certain items the state wants to promote the purchase of (like school supplies, emergency preparedness supplies, or energy efficient appliances ...

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