Employee Tax Deferral
Considering Deferring Your Share of Your Employees' Social Security Tax? Social security taxes are among the biggest tax burdens faced by employers and employees alike, with both of you paying the IRS 6.2%, for a total tax rate of 12.4%. Since
Buying a Company Vehicle
Avoid These 3 Common Mistakes When Buying a Company Car Purchasing a company car allows you to claim a variety of tax benefits, such as deductions for gas mileage and insurance, but before you commit yourself to such a major investment,
Capital Gains Taxed as Income
When Are Capital Gains Taxed as Income? This probably won’t come as a surprise, but just like the government wants a portion of your income, they also want a cut whenever you profit from an investment. Once you sell any capital asset
PPP Questionnaire
How Do You Complete a PPP Loan Necessity Questionnaire? Months after the PPP rolled out, the SBA published Form 3509, the PPP loan necessity questionnaire that applies to for-profit businesses, along with its non-profit counterpart. The SBA plans to use these questionnaires
Profit Loss – Owe Taxes
Could You Owe Taxes Even Though You Took a Loss in 2020? Some shops took losses this year, even after accepting PPP grants, and looking at our clients’ situations, we’re seeing that they may still owe taxes for 2020. How does that
Considering Deferring Your Share of Your Employees’ Social Security Tax?
If you’re considering whether to defer your share of employees’ social security tax, there are some things you should know.
ERTC Tax Strategy Feb 2021
WHAT IS THE ERTC? A tax credit of $5,000 to $7,000 per employee. ERTC stands for Employee Retention Tax Credit. It’s a tax credit that is part of the CARES act, and was extended as part of the year end Coronavirus