Apr 1, 2021 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Medical Practices, Not-for-Profit, Personal Financial Planning, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
Legislation signed in March allows taxpayers who earned less than $150,000 in modified adjusted gross income to exclude unemployment compensation up to $20,400 if married filing jointly and $10,200 for all other eligible taxpayers. The legislation excludes only 2020...
Mar 31, 2021 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Hospitality, Medical Practices, Not-for-Profit, Personal Financial Planning, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
The IRS has announced that individuals have until May 17, 2021, to meet certain deadlines that would normally fall on April 15. This follows a previous announcement from the IRS on March 17, that the federal income tax filing due date for individuals for the 2020 tax...
Mar 26, 2021 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Medical Practices, Not-for-Profit, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
Reposted from a Journal of Accountancy March 25, 2021 news article. A bill to move the Paycheck Protection Program (PPP) application deadline from March 31 to May 31 won approval in the U.S. Senate on Thursday. The final vote to approve the PPP Extension Act of 2021,...
Mar 24, 2021 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Medical Practices, Not-for-Profit, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
The Internal Revenue Service released new guidance for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program. Notice 2021-20 issued on March 1, echoes information the IRS provided in...
Mar 16, 2021 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Hospitality, Medical Practices, Not-for-Profit, Personal Financial Planning, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
The latest relief bill—the American Rescue Plan Act—is the size of a long novel, so it will take some time to get the full scope. The IRS has started to issue guidance, which provides help in understanding key provisions, but does not contradict what has been widely...
Mar 11, 2021 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Hospitality, Medical Practices, Not-for-Profit, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
President Joe Biden’s $1.9 trillion COVID-19 relief bill cleared its final congressional hurdle, with the House passing the bill in a 220 to 211 vote, sending it to the president for his signature. President Biden signed the legislation this afternoon. Whether you...
