Sole proprietors can now choose to calculate their maximum PPP loan based on gross income instead of net profit, according to new SBA ruling.Read More
Blog
Changes to the Employee Retention Credit Under the CAA
The CAA made significant changes to the Employee Retention Credit (ERC), and eligible employers can get $14k per employee for 2021Read More
New Forms 1099-NEC and 1099-MISC for Nonemployee Compensation Due Soon
New Forms 1099-NEC, “Nonemployee Compensation” and Form 1099-MISC, “Miscellaneous Income,” are due to recipients by February 1st.Read More
Revised PPP Loan Forgiveness Application Forms Released
The SBA and US Treasury have released revised PPP forgiveness application forms for first and second-draw Paycheck Protection Program borrowers.Read More
CAA Provides Option to Delay Implementing the Updated CECL Standard
The CAA allows certain banks and credit unions to temporarily delay implementation of the controversial current expected credit loss (CECL) standardRead More
Employee Retention Credit Changes Under the CAA
The Consolidated Appropriations Act made big changes to the Employee Retention Credit by expanding and extending it. Here’s what you need to know.Read More
New Stimulus Package: Tax Changes for Individuals
Here are some of the major tax changes for individuals in the new stimulus package, The Consolidated Appropriations Act, 2021.Read More
Business Tax Changes in the New Stimulus Package
Here are some of the business tax changes and extenders in the new stimulus bill, the Consolidated Appropriations Act, 2021.Read More
Second Round of PPP Loans: Here’s What the Consolidated Appropriations Act Changed
The new COVID-19 stimulus package, the Consolidated Appropriations Act, provides a second round of PPP loans and makes big changes to the program.Read More
The QBI Deduction Basics and How to Qualify
Some taxpayers may be able to achieve significant savings with the QBI deduction by taking certain steps at year end.Read More