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Accounting For The Employee Retention Tax Credit
As many companies are taking advantage of the Employee Retention Credit (ERC), questions have been raised as to how the ERC should be accounted for. Because the ERC is not […]
Navigating The Deductibility Of (Potential) Personal Expenses
The recent indictment of Allen Weisselberg, CFO of the Trump Organization, has shed light on a common, albeit potentially serious, practice among business owners: the deduction of personal expenses of […]
Restaurants’ Indirect Tax Headache
Successfully operating a restaurant takes grit and passion. We do not need to tell you that it is hard work. Rather than focus on the daily challenges, let’s talk about […]
Child Tax Credit Payments to Begin on 7/15
The American Rescue Plan Act (ARPA) was signed into law on March 11, 2021. Among its many provisions were three significant changes to the Child Tax Credit (CTC) for 2021: […]
Tax Day Extended To May 17, 2021
Last week, the IRS announced that the federal income tax filing due date for individuals for 2020 will be automatically extended from April 15, 2021 to May 17, 2021. To […]
Protect Your Identity With An IRS Identity Protection PIN
Many changes have occurred over the past 12 months due to COVID. One change that many people have failed to think about, let alone prepare for, is the widespread identification […]