It seems hard to believe, but the holiday season is almost upon us, and that means that the 2021 tax preparation season will soon follow. With the end of the tax year just around the corner, tax-savvy individuals need to …
Congress Terminates the Employee Retention Credit Early
President Biden signed the Infrastructure Investment and Jobs Act (IIJA) into law on November 15, 2021. One of the provisions of that legislation retroactively terminated the employee retention credit (ERC) early. The credit was previously available to eligible employers for …
Tax Benefits When Saving for College Education
A common question among parents is, “How might I save for a child’s post-secondary education in a tax beneficial way?” The answer depends on how much the education is expected to cost and how much time is left until the …
Here’s What Happened in the World of Small Business in October 2021
Here’s What Happened in the World of Small Business in October 2021 Here are five things that happened this past month that affect your business. 1) Higher corporate rate appears to fall out of economic package Biden’s advisers said that …
Employers Hiring New Employees May Be Able to Claim a Work Opportunity Tax Credit
The Covid-19 pandemic has had a significant impact on the labor market – mandated government lockdowns and workers’ and customers’ fears of contracting the illness resulted in businesses closing or temporarily cutting back and laying off or furloughing millions of …
Tax Responsibilities that Come with Shutting Down a Business
Steps all business owners should take when closing a business. • File a final tax return and related forms. The type of return to file and related forms depends on the type of business. • Take care of employees. Business …
NEW CLIENT PORTALS!
We will be transitioning to a new portal called Client Center. Client Center is a secure web portal that will be used to easily exchange files and communications (tax questions, e-signatures, supporting documents and tax returns) between our Accounting/Tax team …
Fall Tax Planning May Be Wise
Taxes are like vehicles in that they sometimes need a periodic check-up to make sure they are performing as expected, and if ignored, can cost you money. That is true of taxes as well, especially for 2021, as the pandemic …