January 3, 2014
Happy New Year! Now that the holidays are over, it’s time to get serious about reviewing where you stand from a tax perspective. As you may recall, in 2013 Congress and President Obama made a budget deal to avoid the fiscal cliff which resulted in seven tax increases. In addition to these increases, the introduction of the Affordable Care Act (also known as Obamacare) also included six additional tax increases, for a grand total of 13 new tax hikes which may affect your 2013 tax bill.
The following list details these tax changes. It is worthwhile reviewing it to see which changes are most likely to impact you this tax year:
Do any of these 13 tax increases apply to you or your business? If you need help determining how these changes will impact you, please contact our office for assistance.
Do online reviews help or hurt a business? Depending on the type of review, of course, it could go either way.
President Trump’s Payroll Tax Deferral Executive Order
The IRS issued Notice 2020-65 to clarify the Executive Order to allow employers the option to temporarily defers the collection and payment of certain payroll taxes. The order allows employers to postpone the collection and remittance from now through...
Banks are now accepting applications for PPP loan forgiveness. However, many banks are suggesting that borrower’s with PPP loans under $150,000 wait until Congress reconvenes and acts on pending legislation that would automatically forgive any PPP loan under $150,000. Congress is expected to act on this legislation during the second half of September.
We believe that for...