As the year draws to a close, year-end tax planning may be more important than ever before. Here are three strategies to consider.
3 Year-End Tax Planning Tips
Tag: CARES Act
Excess Business Loss Limits Change with CARES Act
The CARES Act made changes to excess business losses, including some changes that are retroactive and some that may create opportunities to file an amended return.
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.
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.
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.
Four CARES Act Tax Relief Provisions for Business Owners
The Coronavirus Aid, Relief and Economic Security (CARES) Act, which passed earlier in 2020, includes some retroactive tax relief for business taxpayers.
PPP Loans: Forgiven Expenses aren’t Deductible
The IRS has issued guidance clarifying that certain forgiven expenses aren’t deductible if a business has received a Paycheck Protection Program (PPP) loan.
What to do if an Employee Refuses to Return to Work
While the CARES Act made several changes to unemployment, the normal rules and processes still apply if an employee refuses to return to work.
Charitable Contribution Rules for Businesses Change Under the CARES Act
In order to incentivize charitable giving, the CARES Act made some liberalizations to the rules governing charitable deductions.