What Does the Payroll Tax Deferral Mean for Your Business?
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.
Author: Andrew Litchford
Posts by Andrew Litchford
3 CARES Act Provisions for Retirement Accounts
A few provisions of the CARES Act have provided some financial relief to retirees and retirement savers. Here are three highlights.
What are the Tax Consequences of a PPP Loan?
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications.
Crisis Preparation: Have a Plan in Place for the Future
As contractors continue to work back toward normalcy, it’s critical to learn from recent experience and apply those lessons to put a plan in place for the future.
Filing a Cash Transaction Report for your Business
You may be required to submit a cash transaction report to the IRS if you receive large amounts of cash or cash equivalents.
5 Steps Nonprofits can take to Survive Tough Economic Times
During the pandemic, the implications for nonprofit funding, including those that rely heavily on state assistance and individual and business donations, are obvious.
The Basics of Partnership Taxation
Unlike regular corporations, partnerships aren’t subject to income tax. Instead, each partner is taxed on the partnership’s earnings
CARES Act Provisions May Boost Cash Flow for Construction Companies
The CARES Act includes several provisions that can help boost cash flow for construction companies (and other businesses) as well as reduce their tax bills.
Bartering for Goods and Services is a Taxable Transaction
During the COVID-19 pandemic, many small businesses may find bartering for goods and services instead of paying cash is beneficial for them.
Partnerships: Are you Ready for the New Centralized Audit Rules?
If your business is a partnership, including a limited liability company taxed as a partnership, it’s critical to consider the potential impact of centralized audit rules that are now in force.