Below we have assembled a brief summary of some of the business taxpayer provisions of the American Rescue Plan Act of 2021 (ARPA), passed on March 11, 2021. Extension of the paid sick and expanded […]
The American Rescue Act of 2021 – Business Provisions Read More »
The premium tax credit (PTC) is a refundable tax credit that assists individuals and families in paying for health insurance obtained through a Marketplace (Healthcare.gov) and was established under the Affordable Care Act (ACA). Recent
ARPA’S Enhancements to the Premium Tax Credit Read More »
We recognize the IRS doesn’t exactly make it easy to figure out most things related to taxes. With that in mind, here’s a quick rundown on what you need to know for filing. W2s and
What’s the difference between a W2 and a 1099? Read More »
By now, you’ve probably heard that the recent stimulus legislation included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those meals fully deductible.
Change in Deductibility of Business Meals Read More »
Ah, the 1099 process … Something that should be so simple, yet proves to be a frustrating task every January. Over the last five years, we’ve worked and reworked our processes to make them as
What do I need to know about 1099s? Read More »
On Sunday, December 27, 2020, the President signed into law one of the longest bills in US history. This bill, the Consolidated Appropriations Act 2021, is a sprawling 5,593 pages and contains a $900 billion
Consolidated Appropriations Act 2021 – Business Provisions Read More »
On Sunday, December 27, 2020, the President signed into law one of the longest bills in US history. This bill, the Consolidated Appropriations Act 2021, is a sprawling 5,593 pages and contains a $900 billion
Consolidated Appropriations Act 2021 – Individual Provisions Read More »
There are only a few days left before the year ends, but here are some actions you can take before the new year to improve your situation for 2020 and beyond. Consider President-elect Biden’s proposals.
“Last-Minute” 2020 Year-End Tax-Saving Moves for Individuals Read More »
The reconciliation process is the last step in the accounting process to ensure you’ve recorded everything properly in your money related accounts. Since most accounting entries run through bank accounts, reconciling is your final check
What can I reconcile? Read More »
Updated August 2025 Closing your books each month is one of the most important steps you can take to keep your financial information accurate and useful. A monthly close means reviewing your financial records, confirming
Why do I need a monthly close? Read More »
The Coronavirus Aid, Relief and Economic Security (CARES) Act included several temporary tax changes to help charities, including the special $300 deduction designed especially for people who choose to take the standard deduction. Under this
