Who doesn’t want to pay less taxes, as long as it’s legally permitted? Here are nine tips to consider taking action on before 2020 comes to a close.
Category: Tax – Business
Mid-Year Tax Tips for Your Business
Businesses all over the country have been affected by the COVID-19 pandemic. Many are facing extreme financial pressure. Fortunately, there are tax breaks that can provide businesses with much needed relief.
How to Safeguard Your Business During “Unprecedented Times”
If you currently own or manage a small business, you’ve probably experienced an extremely high demand of products or services or you’re preparing for the worst.
SBA Provides PPP Loan Forgiveness Application Clarifications
On Monday, June 22, 2020, the U.S. Small Business Administration (SBA) released Revisions to Loan Forgiveness Interim Final Rule and SBA Loan Review Procedures Interim Final Rule.
Section 199A – Extra Tax Savings for Your Business?
The new Section 199A deduction gives owners of pass-through business entities (e.g. sole proprietors, partners in partnerships, some real estate investors, and S Corporation shareholders) an extra deduction equal to 20% of their “qualified business income.”
SBA Releases Updated PPP Loan Forgiveness Application
On June 16, 2020 the SBA released the updated Paycheck Protection Program Loan Forgiven Application.
Senate Passed the Paycheck Protection Flexibility Act
On June 3, the Senate passed the Paycheck Protection Flexibility Act. It has been sent to President Trump, who is expected to sign it.
COVID-19 & Sales Tax: What You Need to Know
How will COVID-19 affect how states approach sales tax enforcement?
Qualified Small Business Stocks: What is the Right Business Entity Type?
Clients often debate the best choice of business entity (C-Corporation, S-Corporation, LLC, etc.) for their operations. In most cases a flow-through entity is chosen.
Families First Act – Changes Affecting Small Business Employers
Disclaimer: This article will provide a broad overview of this act. Be sure to consult with legal experts to fully understand how this legislation affects your business.