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...
Will I Get Both Stimulus Checks?
Similar to the first stimulus package, the new stimulus bill will include a $600 direct payment to individuals who qualify. Again, a vast...
Second Round of PPP Funding: Will Your Business Qualify?
On December 27, 2020, late Sunday night, President Trump signed into law the $900 billion COVID-19 relief bill that was passed...
An Overview of Recently Signed COVID-19 Legislation
What are the basics of the stimulus program signed by the President? After months of uncertainty and mounting desperation, U.S. lawmakers...
Why Can’t I Just Deduct Everything? Because You’ll End Up Like These People
Hakeem Abubakr and Saharmila Kassim v. Commissioner gives us an interesting look at how not to report deductions on a tax return. Mr....
Tax Moves for Individuals Before the New Year
Even though there’s less than one month left in the year, you still have some changes that can be made to help stretch your dollar!...
Conversion from s-corporation to c-corporation mid-year.
When it comes to taxation purposes, all corporations are taxed as an s-corporation or c-corporation. S-corporations are corporations that...
Extension of Tax Cuts and Jobs Act (TCJA) Could Cut Taxes by $1.1 Trillion According to New Study by
The Trump campaign has yet to release any new indication of whether a new tax code will be passed if President Trump is re-elected. A new...
2021 and 2020 Inflation-Adjusted Tax Rates and Income Brackets
Due to some coronavirus and economic relief funding, we saw a few changes to the United States tax code. However, one of the virtually...
