2021 Tax & Financial Cheat Sheet
Keep this 2021 tax and financial cheat sheet handy for quick reference to tax rates and deadlines, retirement plan and HSA contribution limits, and other pertinent charts.
Keep this 2021 tax and financial cheat sheet handy for quick reference to tax rates and deadlines, retirement plan and HSA contribution limits, and other pertinent charts.
The American Rescue Plan Act of 2021 – or ARPA – includes expansion of the Child Tax Credit as well as the Child and Dependent Care Tax Credit.
The Biden administration recently unveiled a $1.8 trillion American Families Plan to provide assistance to middle- and low-income families that would be largely funded by tax increases on wealthy Americans.
R&D will continue to be a priority for the healthcare industry, as organizations work to address the emerging needs of the aging population, respond to trends in telehealth and value-based care, and fend off competition.
New guidance provides a safe harbor for PPP loan deductions for businesses that received PPP loans in the first round of relief but did not deduct otherwise eligible business expenses because they relied on now-superseded guidance.
The BDO 2021 Tax Outlook Survey reveals what 150 senior tax executives consider the top tax issues for 2021.
Biden’s American Jobs Plan includes proposed corporate tax reform that would increase the corporate tax rate and the global minimum tax, eliminate federal tax benefits for fossil fuel companies, and strengthen enforcement against corporations.
The PPP Extension Act of 2021 provides a 60-day extension of the PPP loan application deadline, from March 31 to May 31, 2021.
Home office deduction for real estate investors – do you qualify, and are you hesitant to claim it due to fear of an IRS audit?
The Treasury Department and Internal Revenue Service have announced a tax deadline extension: the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.
ARPA was signed into law by President Biden on March 11, 2021. The COVID-19 Relief package is one of the largest in U.S. history, with significant impact on both individuals and businesses.
Here are the top five PPP FAQs or most frequently asked questions, as new guidance and enhancements complicate the PPP loan process.
The “American Rescue Plan” $1.9 trillion COVID-relief bill / stimulus package is headed to President Biden to sign, and looks to make tax filing even more complex.
The Consolidated Appropriations Act, 2021 (CAA) addresses the interplay for businesses that intend to claim both the ERC and the research and development (R&D) tax credit.
The SBA has issued new guidance for PPP loans for self-employed individuals who file Form 1040, Schedule C, allowing them to calculate their maximum loan amount using gross income instead of net profit.
The IRS is urging employers to take advantage of the newly-extended employee retention credit or ERC – which makes it easier for businesses that have kept employees on the payroll despite challenges presented by COVID-19.
One of the main reasons people go into business for themselves is to do something they love or feel passionate about. Unfortunately, most soon discover that there are necessary aspects of entrepreneurship that they loathe. Two examples that we hear often: payroll and taxes. Many choose to get professional assistance with their taxes, but are not so quick to consider outsourcing payroll.
The newest PPP changes announced by the SBA are intended to benefit the smallest of small businesses. PPP loans will be available exclusively to businesses with 20 or less employees and sole proprietors from Wednesday, February 24 through March 10, 2021.
For most, a new year brings thoughts of resolutions and new beginnings. For CPAs, it means the start of another busy tax filing season. In this article reprinted from East End Living Magazine, DMLO President Chris Ward covers items of interest for both 2020 individual returns, and things to keep in mind for 2021.
Proficient chess players begin each game with a clear strategy that prepares multiple moves in advance. This same approach of strategic forethought, flexibility and responsiveness are best practices for succession planning in a family business as well.