Archive for November 2020
Expenses Paid With PPP Is Not Deductible. Read the full article with a quote from Isdaner & Company.
The IRS says businesses can’t take advantage around tax time unless their loans are not forgiven. Read the full article…
Continue ReadingPPP Deduction Clarification
The U.S. Treasury Department and Internal Revenue Service (IRS) released guidance recently clarifying the tax treatment of expenses where a…
Continue ReadingRelief for Pass-Through Businesses: SALT Cap Workarounds
The Department of the Treasury and the IRS recently announced regulations confirming that state and local taxes imposed on and…
Continue ReadingSBA Offers Guidance Regarding PPP Liquidity
The Small Business Administration (SBA) recently released two liquidity questionnaires regarding the Paycheck Protection Program (PPP) loans. One questionnaire relates…
Continue ReadingPPP Form 3510 Loan Necessity Non-Profit
The purpose of this form is to facilitate the collection of supplemental information that will be used by SBA loan…
Continue ReadingPPP Form 3509 Loan Necessity For Profile
The purpose of this form is to facilitate the collection of supplemental information that will be used by SBA loan…
Continue ReadingBig Tax Headaches That Could Hit Firms and Employees Working from Home
Here are the big tax headaches that could hit firms and employees who work from home. by Gene Marks, For…
Continue ReadingYear-End Moves for Charitable Donations
‘Tis almost the season for charitable giving. Besides helping a worthy cause, your donations may qualify for a festive write-off…
Continue ReadingWhy It’s Important to Plan for Income Taxes as Part of Your Estate Plan
As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to…
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