In pandemic times, every penny saved counts. Tax planning can reduce business taxes, but there are additional savings opportunities. When it comes to research and development tax credits, certain costs related to wages, supplies and contract research are eligible, and can save you $$$. Taxpayers often overlook processes and routine work that counts towards extra...
Extension and Enhancement of PPP Loans The Consolidated Appropriations Act, 2021, makes available an additional $284 billion in PPP loans. What does the “ACT” mean for you and your business? If you are a first-time borrowers that meets the eligibility criteria, you can apply, because the availability of PPP Loans has been extended. If you...
Nothing is yet set in stone, but we want to alert clients to “expect the unexpected” when it comes to potentially significant tax and regulatory policy changes in 2021. The first hint of things to come may be hidden in President Joe Biden’s American Rescue Plan. The $1.9 Trillion COVID-19 relief package represents the Biden administration’s...
Bitcoin rose above $52,000 on February 17th and has gained over 400% in 12 months. If you were lucky and bought bitcoin when it was worth less, you are sitting on big gains, which is why it is important to understand that the IRS views bitcoin and other cryptocurrencies as assets. Not currency and not...
President Joe Biden just announced there will be a 2-week period starting on Wednesday, February 24, 2021, during which only businesses with less than 20 employees will be able to apply for a Paycheck Protection Program (PPP) loan. The White House is hoping to further target the PPP Loan to the smallest businesses. The administration...
