Accounting and Tax Articles

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Nov 1, 2020

Buying a Car – Business or Personal?

The question is whether you should be buying a vehicle and putting it under your name personally or under your business name. There is a misconception that if you own a business and you buy a vehicle under your business name that you can then “writ...

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Oct 18, 2020

IRS Penalties & Penalty Waivers

There are several types of penalties that the IRS can assess. The penalties are assessed at different rates and are set for different time periods.

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Oct 12, 2020

Should you form an LLC?

The primary reason for forming an LLC is for liability and asset protection.

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Jun 8, 2020

The PPP Flexibility Act

What exactly does the PPP Flexibility Act change?

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May 17, 2020

HEROES Act

The HEROES Act focuses on three pillars: opening our economy safely and soon, honoring our heroes and then putting much-needed money into the pockets of the American people

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May 9, 2020

Latest Updates on Small Business PPP and EIDL Loan Programs

The latest developments in the CARES Act small business aid package contain both good news and not so good news for small businesses. Let’s expand on what we know at this point.

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May 3, 2020

IRS Denies Double Tax Benefit Surrounding the Forgivable PPP Loans

When the program was first introduced, Congress stated that the funds that are forgiven will not be included in your tax return as taxable income. However...

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Apr 23, 2020

The Paycheck Protection Program: Forgivable?

As the popular Paycheck Protection Programs continues to get additional funding, it's important to remember the key thing about this loan...

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Apr 13, 2020

IRS Economic Impact Payment (Stimulus Payment)

The CARES Act Section 2201 included a provision for Recovery Rebates for Individuals, commonly known as Stimulus Checks.

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Apr 9, 2020

Section 139 – What You Need To Know About Disaster Relief Payments

A nationwide emergency declaration under the Stafford Act has opened the opportunity for employers to provide tax-free assistance to their employees

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