David Reape CPA Archives - Page 13 of 19 - HW&Co. CPAs and Advisors

Many Tax Amounts Affecting Businesses Have Increased for 2021

By: David M. Reape

A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same due to low inflation. And the deduction […]

IRS Still Experiencing Delays

By: David M. Reape

The IRS has millions of individual 2019 tax returns in the processing pipeline. They recently made some changes on their website, regarding the processing of these IRS delays. For refunds […]

2021 Q1 Tax-Related Deadlines

By: David M. Reape

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may […]

Congress Passes $900 Billion COVID Relief Bill

By: Tony LaNasa

The U.S. Senate and House of Representatives passed a $900 billion COVID-19 relief bill 12/21, that provides $600 stimulus payments to individuals, adds $300 to extended weekly unemployment benefits, and provides […]

Is My Charitable Donation Tax Deductible?

By: David M. Reape

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 […]

PPP Loan Expenses: What’s Deductible?

By: David M. Reape

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 […]

Tax Responsibilities if Your Business Closed Amid the Pandemic

By: David M. Reape

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 […]

Business Website Costs: How to Handle Them for Tax Purposes

By: David M. Reape

The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when Internet website costs can be deducted. Fortunately, established rules that generally apply […]

Employers Have Questions About Deferring Employees’ Social Security Taxes

By: David M. Reape

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations, social security taxes. […]

IRS takes steps to ensure people with qualifying children receive $500 Economic Impact Payments

By: David M. Reape

The IRS announced it will reopen the registration period for federal beneficiaries who didn’t receive $500 per child Economic Impact Payments earlier this year. The IRS urges certain federal benefit […]

Executive Order to Defer Employee’s Portion of Social Security Taxes

By: David M. Reape

On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These actions were taken in an […]

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