Work Opportunity Tax Credit extended through 2025

Originally published in March 2021, this article has been updated for September 2022. WILL YOU QUALIFY FOR A WORK OPPORTUNITY TAX CREDIT? Are you a business owner thinking about hiring? Be aware that a recent law extended…

PPP REVISIONS PROVIDE MORE RELIEF FOR SMALL BUSINESSES

ALLOW PPP LOAN CHANGES TO ASSIST YOUR SMALL BUSINESS The Biden administration has announced several reforms to the popular Paycheck Protection Program (PPP) to bring greater relief to the smallest and most vulnerable businesses. Among other things,…

The new Form 1099-NEC and the revised 1099-MISC

NONEMPLOYEE COMPENSATION THROUGH 1099 FORMS There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by Feb. 1, 2021. After sending the…

The IRS provides guidance on meal and entertainment deductions

The IRS has released proposed regulations addressing the deductibility of meal and entertainment expenses in tax years beginning after Dec. 31, 2017. Among other things, the proposed regs clear up lingering confusion regarding whether meals are considered…