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The Consolidated Appropriations Act of 2021 (CAA) was signed into law in late December. The sprawling legislation contains billions of dollars in additional stimulus funding in response to the COVID-19 pandemic, as well as numerous unrelated provisions. Let’s take a closer look at the provisions that are most likely to affect your company’s bottom line. Paycheck Protection Program The CAA includes another $284 billion in funding for forgivable loans through the Paycheck Protection Program (PPP), for both first-time and so

After months of negotiations in Washington, an agreement has been struck on a new aid package to address the ongoing fallout from the COVID-19 pandemic.

Income tax is difficult to navigate when new to owning and operating a business, whether you have several employees or are self-employed. Are you trying to differentiate individual taxes on income from corporate taxes? Below, we will explore the differences between individual vs corporate taxes. Individual vs Corporate Taxes Corporate Taxes Corporate taxes on income, also known as corporate income taxes, company taxes, or corporation taxations, refer to a direct tax levied on a company’s income or capital by the

It can be hard to ensure your business remains compliant with every federal and state regulation. When it comes to your offered employee benefits, how do you know everything aligns with current guidelines? Has your business considered completing an employee benefits audit? In the content below, we define a 401(k) employee benefit plan audit, discuss the importance behind one, and explore when a business needs to have it completed. What Is a 401 (k) Employee Benefit Plan Audit? An employee

With the presidential election only weeks away, many people are beginning to pay closer attention to each candidate’s positions on such issues as the COVID-19 pandemic, health care, the environment and taxes.

On August 8, 2020, President Trump signed an executive memorandum that defers an employee’s portion of Social Security and Medicare taxes from September 1 through December 31, 2020.

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take so-called “coronavirus-related distributions” (CRDs) from IRAs, 401(k) plans and certain other retirement plans.