Small Businesses: Cash In on Depreciation Tax Savers
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you […]
Category: Articles
Is My Charitable Donation Tax Deductible?
The holiday season is when many people think about how they can give back, often wanting to donate to a charity. The IRS has a tool that can help figure […]
‘Tis the Season for Charity — and Charity Fraud
Americans generally feel generous during the holidays and usually are eager to donate to worthy charitable causes. At the same time, they’re so busy and rushed with holiday activities they […]
The Importance of S Corporation Basis and Distribution Elections
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because […]
PPP Loan Expenses: What’s Deductible?
The simple answer is, we’re not sure yet. This week, the IRS issued Revenue Ruling 2020-27 which provides additional guidance on the non-deductibility of expenses paid with PPP loan proceeds […]
Don’t Make Computer and Equipment Theft Easy
These days, many offices and other workspaces are nearly empty as employees work from home. This can make companies that don’t safeguard their computers, printers and other equipment vulnerable to […]
Families First Coronavirus Response Act (FFCRA)
Now that we’re coming up on the end of the year, many employers may be wondering about filing for the FFCRA tax credit. They may have employees who took the […]
Is Your Business Vulnerable to Identity Theft?
According to data company Dun & Bradstreet, business identity theft increased more than 250% in the first half of 2020. You can thank the pandemic — and the government’s release […]
Fraud Controls Are Ineffective When Senior Managers Go Rogue
Senior Managers and Fraud Senior managers that override internal controls can make your company more vulnerable to fraud. This is true even when these managers have innocent intentions — for […]
Tax Responsibilities if Your Business Closed Amid the Pandemic
Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If your business closed, we’re here to assist you in any way we can, including taking care of the […]
Payroll Tax Deferral: Updated Guidance
The IRS recently posted guidance on how to report the deferral of withholding, depositing, and paying of certain payroll tax obligations, as authorized by the Aug. 8, 2020, presidential memorandum […]
SBA Issues New Questionnaire for Larger PPP Borrowers
The Small Business Administration (SBA) has begun issuing loan necessity questionnaires to Paycheck Protection Program (PPP) borrowers with loans over $2 million. SBA will use the questionnaire as they review […]
