Business Meals Fully Deductible for 2022
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals…
Tag: tax
The Election to Apply the Research Tax Credit Against Payroll Taxes
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to eligible businesses. Claiming the credit involves complex calculations, which we can take care of…
2021 Q3 Tax Calendar: Key Tax Deadlines for Businesses and Other Employers
PREPARE YOUR BUSINESS WITH THESE TAX DEADLINES Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may…
Do You Qualify for the 2021 Child Tax Credit? Find Out Now!
What You Need to Know Millions of American taxpayers with children will begin receiving advance payments of their 2021 Child Tax Credits starting this July. However, not all households that qualify for the Child Tax Credit will…
The Biden Administration Proposes Far-Reaching Tax Plan
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 Made in…
President Biden Details His Tax Plan for Individuals
President Biden’s tax plan for individual taxpayers was outlined in an April 28 address to Congress and in an 18-page fact sheet released by the White House. The “American Families Plan” contains tax breaks for low- and…
Eligible Businesses: Claim the Employee Retention Tax Credit
Now that the first two quarters of 2021 are in the rearview mirror, many businesses and nonprofits are dealing with the calculations and recordkeeping necessary to take advantage of the expanded Employee Retention Tax Credit (ERTC). Employee…
Tax Incentive Helps Employers Assist Workers with Student Loan Repayments
Expansion of Education Assistance Program Employers have a new tax incentive available that can help them recruit or retain employees who are carrying student loan debt. The Coronavirus Aid, Relief and Economic Security (CARES) Act, enacted in…
Employee Retention Tax Credit Roundtable: What You Need To Know
Tax Director Larry Friedman Discusses the Key Details of the Employee Retention Tax Credit Need help understanding the ERTC? Tune in for an hour roundtable where Tax Director Larry Friedman breaks down the basics of the…
The Consolidated Appropriations Act, 2021: The Individual Provisions
The Consolidated Appropriations Act, 2021 was passed by both houses of Congress on Dec. 21, 2020 and signed into law by the President on Dec. 27, 2020. The bill contained several provisions and tax extenders affecting individuals…
Episode 9: Tax Planning in a Year of Uncertainties
A Tax Planning Discussion with Larry Friedman Join us as Tax Director Larry Friedman discusses a variety of tax changes, updates, and planning tips for 2021. He will address the following: Income Taxes The Unknown of 2021…
Payroll Tax Deferral: Concerns About Deferring Employees’ Social Security Taxes
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit, and payment of certain payroll tax obligations. The three-page guidance in Notice 2020-65 was issued to implement…
