IRS Updates Business Travel Per-Diem Rates
The IRS recently issued its annual update of special per-diem rates for substantiating ordinary and necessary business expenses incurred while traveling away […]
Tax Benefits for Charitable Giving Expanded in 2021
Recent legislation includes several provisions to help individuals and businesses who give to charity. The new law generally extends four temporary tax […]
SBA Streamlines Forgiveness of PPP Loans of $150,000 or Less
The Paycheck Protection Program (PPP) provided more than 11.7 million forgivable loans totaling nearly $800 billion to small businesses and other eligible […]
Car and Truck Depreciation Limits Updated for 2021
Whether their business has one company car or a fleet of vehicles, many business owners find company-owned passenger vehicles to be an […]
Do You Have a Household Employee? Are You Sure?
In an effort to capture income from household employees, the tax code requires you to obtain employee information, pay the related state […]
Child Tax Credit Payments Have Begun
The first advance payment from the newly expanded child tax credit was recently sent out by the IRS. Payments are scheduled to […]
Plan Now to Lower Your 2021 Tax Bill
Now is the time to begin tax planning for your 2021 return. Here are some ideas: Contribute to retirement accounts. Tally up […]
Advance Child Credit Payments Update
The American Rescue plan signed in March, 2021 requires the IRS to pay out one half of enhanced Child Tax Credits (CTC) […]
2020 Unemployment Compensation Refunds Are On Their Way
The American Rescue Plan Act of 2021 (ARPA) retroactively excluded up to $10,200 in unemployment compensation per taxpayer paid in 2020. Since […]
Required Minimum Distributions in 2021
Tax-advantaged accounts like 401(k)s and IRAs are convenient ways to save for your retirement. These types of accounts allow to you defer […]