Latest Posts

You likely already know that the employee retention credit (ERC) is a good deal—if you qualify. Now, thanks to the recently enacted American Rescue Plan Act of 2021 (ARPA), you can qualify for up to $100,000 of ERC in the third and fourth quarters of 2021.

When tax season comes around, we all start to feel a little on edge. This can be even more intense for business owners, as the variety of complications — and the stakes for those complications — go way up when you’re managing a company’s taxes. The anxiety can get overwhelming, especially if it’s your first time with a new business. Here’s a look at some of the pitfalls that might arise, how to avoid them, and how to give yourself the gift of simple taxation down the road.

Businesses can claim a 100% deduction on restaurant meals through the end of 2022, the IRS announced.

We seem to be living in an age of natural disasters. Floods, fires, hurricanes, tornados, and other disasters often dominate the news. If a disaster strikes you, the tax law may help. You may qualify to deduct a tax code-defined disaster loss from your taxable income. The rules for personal losses are complex and far more restrictive than for business losses.

If you’ve been recently discharged from the armed forces — or are about to be discharged — you’re intimately aware that civilian life is vastly different from military life. The transition you’re facing is a major change in just about all aspects of your life and will have a dramatic impact on your finances. The choices and actions you take during this time can make things harder or set you up for success.

The stimulus bill contains a hodgepodge of eight new or extended tax breaks intended to help Form 1040 taxpayers.

If you have a disabled or blind child or other family member, or are disabled or blind yourself, you should know about ABLE accounts. These tax-advantaged accounts can be a real game changer for the disabled.

Did you miss out on the first two opportunities to receive your tax-free Paycheck Protection Program (PPP) cash? Many did miss out. Why? One reason: the word “loan.” Who wants a loan? No one. Well, almost no one. But who wants a cash gift, tax-free?

College is expensive. Data for the 2019–2020 academic year indicates that the average cost of tuition, fees, room, and board was $30,500. Tax law has provisions to help you cover the costs, including Coverdell, Section 529 savings, and Section 529 tuition plans.