Posted on June 29, 2021
by
Angie Adames
There is a very fine line between business and pleasure when it comes to how the IRS treats business-travel expenses, including airfare, meals and lodging. In general, some or all of these costs may be deductible only when they are deemed reasonable, necessary and directly attributed to the taxpayer’s active conduct of a trade or […]
Posted on June 22, 2021
by
Karen Lake
Florida’s legislature recently approved House Bill 7071 offering families throughout the state a variety of tax-saving opportunities, including a new sales-tax holiday that celebrates all the outdoor activities that local residents can enjoy year-round. The first-ever Florida “Freedom Week” allows residents to purchase an expansive list of recreational equipment and outdoor supplies free of sales […]
Posted on June 21, 2021
by
Joanie Stein
The IRS issued important guidance concerning an expansion of the COVID-19-related paid sick and family leave tax credits available to employers under the American Rescue Plan (ARP) enacted earlier this year. Background Congress introduced the emergency paid sick leave and family and medical leave programs in 2020 as part of the Families First Coronavirus Response […]
Posted on June 09, 2021
by
Adam Cohen
Individuals participating in high-deductible health plans (HDHPs) will be able to contribute more of their pre-tax earnings to health savings accounts (HSAs) in 2022 and yield the related tax and savings benefits. The IRS recently announced it will increase the annual HSA contribution limits that qualify for a full tax deduction in 2022 to $3,650 […]
Taxpayers that received Paycheck Protection Program (PPP) loans to maintain and continue paying their workforce through the COVID-19 pandemic may be missing out on valuable employee retention tax credits (ERCs) equal to as much as $7,000 per employee, per quarter in 2021. Here is what eligible businesses and non-profits need to know to claim as […]
Posted on June 02, 2021
by
Daniel Hughes
June 1 marked the start of the Atlantic hurricane season and the potential for tropical force winds and heavy rainfall to damage property and further impede business operations already hampered by the COVID-19 pandemic. The key to minimizing losses and getting your company back up and running after a storm passes is to have an […]
