2024 Cost-of-living Adjustments and Tax Planning

The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning? Dear Kent, The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating…

5 Ways Financial Advisors Can Help Start-Ups Succeed

Every business starts with a “seed” idea that germinates into a fledging business under the right conditions. The decisions that owners make when launching a start-up will impact its financial well-being for years to come. Here…

Corporate Transparency Act: What You Should Know

Beginning 1/1/2024, most small businesses will be required to report information about the business entity, its beneficial owners and the company applicants who established the entity. Substantial fines and penalties apply if timely reports are…

Once the 2023 tax year is over?

Once the 2023 tax year is over and the numbers are generally set in stone, you can itemize deductions on your federal income tax return if your total allowable itemized write-offs for the year exceeds your…

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…
Tax Accountants

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…
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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…
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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…
Tax Accountants Near Me

PPP Forgiveness and Repayment What Businesses need to know now

A critical deadline is approaching for many of the businesses that have received loans under the Paycheck Protection Program (PPP), which was created in March 2020 by the CARES Act. If these borrowers don’t take…
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The Biden Administration Proposes Far-reaching Tax Overhaul

President Biden recently announced his $1.8 trillion American Families Plan (AFP), the third step in his Build Back Better policy initiative. The announcement followed the previous releases of the proposed $2.3 trillion American Jobs Plan and the…