The flat 21% corporate federal income tax rate
The flat 21% corporate federal income tax rate ushered in by the Tax Cuts and Jobs Act made the idea of operating your business as a C corporation more attractive than before. The flat 21% rate…
Category: Accounting News
Q3 Estimated Tax Payments Reminder
Hope all is well. This is a reminder that Q3 Individual Estimated Tax Payments are due on September 15, 2021. Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax…
IRS issues ERC Guidance as Congress Mulls Early Termination
The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19 pandemic. Notice 2021-49 addresses various…
SBA Streamlines Forgiveness for Smaller PPP Loans
The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or…
2021 Tax Calendar Clarification
We have received numerous inquiries regarding the recently provided tax calendar and the upcoming February 1st deadline mentioned in the newsletter. To clarify, the deadline for your 2020 individual tax filing remains April 15th, 2021.…