Mar 1, 2021
The curtain may have closed on 2020, but the 2020 tax season is still in full swing Chances are your tax obligations will be different this time around, thanks to the pandemic. From PPP and other relief loans to changes in deductions, be sure you’re taking every...
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Feb 1, 2021
Small building contractors are no strangers to IRS audits. It’s a fact of life for some, given how complicated accounting methods and project billing can be. Certain activities and factors, however, are sure-fire audit triggers, including the following: Click To...
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Jan 1, 2021
The maximum payout in 2021 has increased $1,644 a year for high-wage earners who meet the criteria and qualify for full-time retirement But the payroll tax that funds Social Security is rising, too. In 2021, the maximum earnings subject to the Social Security payroll...
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Dec 1, 2020
You may have heard that Paycheck Protection Program (PPP) loan forgiveness is already being administered, but you can wait until 2021 to apply. It might even be more tax-advantaged to do so (depending on your situation). And you may decide that full forgiveness...
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Nov 1, 2020
For business owners who received a federal Paycheck Protection Program (PPP) loan this spring and misused it, the time of reckoning has come. More than a dozen criminal cases have been filed across 11 states involving PPP loan misuse. These first cases involve...
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Oct 1, 2020
The construction industry has changed dramatically this year. The volatility in the market, supply chain disruptions, delays and pivots, relief loans, and the cost of new safety requirements will result in a bookkeeping challenge beyond anything you’ve seen before....
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