COVID-19 and Your Tax Return
This Friday, on the 12th of February, is the official opening date for tax season. On this day, the Internal Revenue Service (IRS) will...
Educators May Deduct PPE Expenses Under New IRS guidelines
Last week, the IRS released Rev. Proc. 2021-15 as an update for the deductibility of personal protective equipment (PPE) paid for by...
Why the Wait?
It’s only right that even the 2021 tax filing season start date has been postponed by the 2019 Coronavirus, but at least we know when it...
Small Business, Big Benefits
Taxes are daunting, and especially for a small-business owner’s income. The following tips are six ways small businesses can get some...
More Guidance Released From Government Regarding Second-Draw PPP Funding and Forgiveness Process.
As of January 20, 2021, the SBA and Treasury released an updated and simplified version of the PPP Forgiveness application. The form is...
Tips for Professionals Regarding Second-Draw PPP Funding
Business owners, CPAs, loan officers, and if applicable, business brokers, should all use a variety of tactics all at once as businesses...
President Biden Signs Executive Order Extending Student Loan Payment Freeze
The latest statistics suggest that 45 million people in the United States owe approximately $1.6 trillion in student loan debt. In one of...
National Taxpayer Advocate (NTA) Releases 2021 Annual Report
Would you believe me if I told you that some people still haven’t received their tax refunds from the previous year? Unfortunately, it is...
Some Business Meals May Be 100% Deductible Under Second COVID-19 Stimulus
Though corporate meal expenses are currently 50% deductible, the Trump administration reportedly inserted language in the relief bill...
Deductibility of PPP-Funded Expenses Under Consolidated Appropriations Act 2021.
The Consolidated Appropriations Act explains that gross income does not include any amount that would otherwise arise from the...
