Tax Services Archives - Page 6 of 9

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Congress Has Approved the Infrastructure Bill: What’s In It For You?

The long-awaited $1 trillion Infrastructure Investment and Jobs Act (IIJA) received the U.S. House of Representatives’ approval Friday, November 5, 2021, to provide funding for improvements to highways, bridges, and other road safety measures. The bill also offers plans to…

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IRS Temporarily Expands List of Tax Forms Eligible for E-signatures

In light of the COVID-19 pandemic, the IRS expanded its electronic signatures program to include many more forms that historically needed a wet signature. The expansion is intended to make things easier for tax professionals and their clients, while in-person…

IRS releases W-2 reporting requirements for qualified leave in 2021

The IRS recently issued Notice 2021-53, providing guidance on reporting qualified leave and sick wages to employees. Qualified sick and leave wages are those that are defined by the Families First Coronavirus Response Act (FFCRA), which was amended by the…

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Don’t overlook the Employee Retention Credit

Note: We are closely monitoring H.R. 3684, known as the Infrastructure Investment and Jobs Act. The Senate has approved the infrastructure bill and now goes to the House of Representatives for consideration as of the publication. The infrastructure bill would…

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Seven tax strategies that save small businesses money

Taxes are a constant for any business. They come due every year, whether you have a profitable year or are in times of economic downturn. Planning for your taxes is an important business function, as it allows you to make…

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Understanding How the R&D Tax Credit Can Offset Payroll Taxes

Start-ups and small businesses customarily incur expenditures that may qualify for Research & Development (R&D) tax credits, but generally, these businesses don’t have the taxable profit needed to take advantage of the credit. Qualifying small businesses can apply all or…

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Developing a Disaster Preparedness Plan

The widespread media coverage of natural disasters has left business owners with little excuse to be unprepared for hurricanes, tornadoes, earthquakes, forest fires, floods, and superstorms. These calamities can strike wherever and whenever, and while there is no preparation for…

A white sign holder with a red "Vacation Rentals" sign hanging from it and palm trees in the background.

Tax facts to know about vacation rentals

Buying property and selling after it’s appreciated is a wealth-building strategy that has been around for centuries. It’s even better if that property can make you money, say through rental income. If you’ve been considering allowing short-term vacation rental contracts…

A notepad with "Child Tax Credit" written in black ink and highlighted, sitting on top of a pile of American currency.

IRS releases website to manage child tax credit deposits

Earlier this year, the American Rescue Plan (ARP) was announced, including some temporary updates to the child tax credits available for many parents. Under the ARP, eligible parents of dependent children can take a tax deduction of up to $3,600…

A man dressed in a black suit, white button up shirt, and a black tie sitting in a fancy restaurant with a bowl of bisque and a partially emptied glass of champagne.

Understanding business meal and entertainment deduction rules

The last few years have afforded quite a few changes in how the IRS allows businesses to handle meal and entertainment costs in relation to their taxes. The 2018 Tax Cuts and Jobs Act (TCJA) eliminated deductions for most business-related…

Category: Tax Services (page 6)