With less than a month to go before the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting deadline, a U.S. District Court ruled that the requirements exceed Congress’s authority under the Commerce Clause of the Constitution. What the court … Continue reading
Category Archives: Current Events
9 December 2024
Court Presses Pause on the Corporate Transparency Act Reporting Requirement for Businesses
15 November 2021
Year-End Tax Planning for Businesses
2021 brought a wave of new tax changes for businesses, and 2022 could bring yet another surge. With the end of year in sight, there’s a window of opportunity in the fourth quarter to make strategic tax planning moves that … Continue reading
8 November 2021
Year-End Tax Planning for Individuals
As we near the end of another turbulent year, it’s time to discuss the steps you need to take to reduce your tax burden for 2021 (and beyond). Unlike other years, 2021 presents many unique moving parts to the tax … Continue reading
If you’re a small business owner or a self-employed worker, you may have opted for the self-employment tax deferment benefit offered through the CARES Act. This benefit allowed individuals to defer a certain amount of their Social Security taxes until … Continue reading
In another round of extensions, the IRS recently pushed back the deadline for contributing to individual retirement accounts (IRAs) to May 17—the same day as the income tax deadline. This means that you now have an additional month to build … Continue reading
2 April 2021
Reminder: Estimated Taxes for Q1 2021 Still Due 4/15
Although the income tax filing deadline was extended until May 17, 2021, quarterly estimated tax payments for self-employed business owners are still due on April 15, 2021. Tax law requires us to pay taxes throughout the year in a timely … Continue reading
16 March 2021
What’s in the New Stimulus Package?
The third stimulus package valued at $1.9 trillion made its debut after President Biden signed the relief into law on Thursday, March 11, 2021. The American Rescue Plan brings a new wave of stimulus payments, tax credits, and legislative extensions … Continue reading
11 January 2021
Update on COVID-19 Relief Packages for Small Businesses
As businesses and taxpayers are still reeling from the effects of the pandemic into the new year, additional relief programs and assistance are being offered at both the state and federal level. You’ll have to be quick because there’s a … Continue reading
2 January 2021
IRS Introduces New Form 1099-NEC
Most small businesses and freelancers are familiar with Form 1099-MISC. In 2020, the IRS unveiled a new Form 1099-NEC for purposes of filing nonemployee compensation for any independent contractors, gig workers, or self-employed individuals not on payroll. In an effort … Continue reading
| 1 of 6 | OLDER > |