Business Consulting and Planning

Employer Tax Credits for Paid Sick and Family Leave Extends to Vaccines by Joanie Stein, CPA

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 […]

IRS Increases HSA Limits for 2022 by Adam Cohen, CPA

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 […]

What PPP Loan Recipients Must Know to Claim the Employee Retention Tax Credit by Andreea Cioara, CPA

Posted on June 08, 2021 by Andreea Cioara

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 […]

Is Your Business Ready for Hurricane Season? by Daniel S. Hughes, CPA/CFF/CGMA, CVA

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 […]

Now May Be a Good Time to Consider a Roth Conversion by Rick Bazzani, CPA

Posted on May 26, 2021 by Rick Bazzani

When it comes to retirement savings, taxpayers generally have a choice: pay taxes on their contributions today or pay taxes on their withdrawals in retirement. For high-net-worth taxpayers, this decision is already determined by the U.S. tax code. However, with the prospect of higher taxes under the Biden Administration, wealthy individuals have a small window […]

How Biden’s Tax Plan May Affect Real Estate Investors, Developers

Posted on May 18, 2021

President Biden’s $1.8 trillion American Families Plan intended to help low- and middle-income families “cover basic expenses, lower health insurance premiums and reduce childhood poverty” calls for significant changes to the tax code, including higher tax rates and fewer loopholes for wealthy taxpayers. As Congress now debates whether any of the provisions included in the […]

UPDATED – Which COVID-19-Related Payroll Tax Credit Is My Business Eligible to Receive? by Cherry Laufenberg, CPA

Posted on May 17, 2021 by Cherry Laufenberg

In the wake of the COVID-19 pandemic, the U.S. enacted various laws providing a variety of financial-relief measures to support businesses through the crisis period. Key among those provisions are tax credits for those businesses that retain and continue to pay qualifying wages to employees despite interruptions or their normal business operations. It is critical […]

Cannabis Businesses, Investors Can Reap Tax Savings When They Plan Well by Joshua P. Heberling, CPA

Posted on May 04, 2021 by Joshua Heberling

Even as New York prepares to join a growing number of U.S. states to legalize the sales of marijuana for recreational purposes, cannabis continues to be treated on the federal level as an illegal Schedule I substance. As a result, taxpayers involved in the cannabis industry, either as investors or business operators, face a landmine of […]

UPDATED – Preparing for Potential Changes to Individual and Estate Taxes by Tony Gutierrez, CPA

Posted on April 30, 2021 by Anthony Gutierrez

As the government begins deliberating the Biden administration’s $2.3 trillion infrastructure bill and $1.8 trillion American Families Plan, one thing is for certain: individual and corporate taxes will be impacted. Now is a critical time for high-net-worth families and businesses to get ahead of proposed tax increases and meet with their CPAs and advisors to […]

Florida Finally Adopts Online Sales Tax Law by Karen A. Lake, CPA

Posted on April 23, 2021 by Karen Lake

Under a newly enacted Florida law, out-of-state retailers will need to begin collecting and remitting sales tax on purchases made online by residents within the state beginning July 2021. Previously, online retailers were not required to remit sales tax to the state, thereby providing them with an unfair competitive advantage over Florida’s brick-and-mortar businesses that […]

Category: Business Consulting and Planning