Most companies operate as pass-through entities. Under a pass-through entity structure, tax authorities don’t tax the owner’s earnings at the business level. Instead, owners and shareholders pay the taxes at…
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The Committee for a Responsible Federal Budget is an independent, non-profit, and bipartisan organization that scrutinizes federal budgets and fiscal plans. When it examined President Biden’s tax plans, the Committee…
There’s nothing typical about tax planning in 2020. COVID-19 and the economic fallout are only the beginning. Even without a pandemic, recent developments such as the Setting Every Community Up…
Many accountants and tax consultants recommend business owners who received Paycheck Protection Program (PPP) relief loans to hold off completing their forgiveness forms. Already, the rules about which loans qualify…
A certified public accountant, commonly referred to as a CPA, is a professional accountant who has passed the CPA exam in one or more U.S. states. CPAs must also meet requirements related…
While tax season officially began at the end of January, a lot has changed since then. The coronavirus, which is currently affecting countries all around the globe, has swept across…
Income Tax Deadlines for Individuals and Businesses in the U.S. Tax season is here again as the Internal Revenue Service (IRS) officially began processing tax returns on January 27, 2020….
Major tax reform legislation was signed into law late last year and resulted in sweeping changes to the tax code for the first time in about 30 years. Businesses should…
Entertainment Industry Deductions Wins. The Boston Bruins of the National Hockey League lost in the first round of the 2017 Stanley Cup playoffs, but subsequently scored a legal victory in…
Small businesses that reimburse employees for the cost of premiums for individual health insurance policies or pay their health costs directly will be fined up to $36,500 a year per…
