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Thursday, 29 July

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Winning the cat-and-mouse game of job interview questions

Keith Orr

Posted By: Keith Orr

Posted July 23, 2021 / No comments

In many industries, the job interview process has become a game of cat and mouse. Books and websites are filled with tips for applicants on how to best answer common questions. Type the phrase “answers to job interview questions” into a search engine and you’ll instantly receive millions of results. That means job candidates (the

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Getting a new business off the ground: How start-up expenses are handled on your tax return

Cynthia Petschke

Posted By: Cynthia Petschke

Posted July 22, 2021 / No comments

Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020 through June 2021, the U.S. Census Bureau reports that business applications are up 18.6%. The Bureau measures this by the number of businesses applying for an Employer Identification Number. Entrepreneurs often don’t know

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PPP forgiveness and repayment: What businesses need to know now

Timothy King

Posted By: Timothy King

Posted July 21, 2021 / No comments

A critical deadline is approaching for many of the businesses that have received loans under the Paycheck Protection Program (PPP), which was created in March 2020 by the CARES Act. If these borrowers don’t take action before the deadline expires, their loans will become standard loans, and the borrowers could be responsible for repaying the

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Here come the child tax credit payments: What you need to know

Robert Tighe

Posted By: Robert Tighe

Posted July 1, 2021 / No comments

The first advance payments under the temporarily expanded child tax credit (CTC) will begin to arrive for nearly 39 million households in mid-July 2021 — unless, that is, they opt out. Most eligible families won’t need to do anything to receive the payments, but you need to understand the implications and why advance payments might

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The Biden administration proposes far-reaching tax overhaul

Keith Orr

Posted By: Keith Orr

Posted May 5, 2021 / No comments

President Biden recently announced his $1.8 trillion American Families Plan (AFP), the third step in his Build Back Better policy initiative. The announcement followed the previous releases of the proposed $2.3 trillion American Jobs Plan and the Made in America Tax Plan. These plans propose major investments in various domestic initiatives, such as expanded tax credits for

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President Biden details his tax proposals for individuals

Timothy King

Posted By: Timothy King

Posted April 30, 2021 / No comments

President Biden’s proposals for individual taxpayers were outlined in an April 28 address to Congress and in an 18-page fact sheet released by the White House. The “American Families Plan” contains tax breaks for low- and middle-income taxpayers and tax increases on those “making over $400,000 per year.” Here’s a summary of some of the

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PPP application deadline extended

Robert Tighe

Posted By: Robert Tighe

Posted March 30, 2021 / No comments

President Biden has signed the PPP Extension Act of 2021. The new law extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021, to May 31, 2021, thus providing potential PPP borrowers additional time to submit their applications. The law doesn’t provide the PPP with any additional funding. However, $7.25 billion in

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Make the most of the Employee Retention Credit

Robert Tighe

Posted By: Robert Tighe

Posted March 20, 2021 / No comments

The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during the COVID-19 pandemic, has been with us for a year. But questions about it remain for many employers. With the new American Rescue Plan Act (ARPA) extending the credit and expanding eligibility — and the credit worth as

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IRS Extends Deadline – Penalties Very Possible If You File After April 15th

Timothy King

Posted By: Timothy King

Posted March 19, 2021 / No comments

The IRS has announced that the federal income tax filing deadline for individuals for the 2020 tax year is extended from April 15, 2021, until Monday, May 17, 2021. The IRS extended the deadline to provide relief to taxpayers facing challenges as a result of the pandemic and because it’s grappling with a rising backlog

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The American Rescue Plan Act provides sweeping relief measures for eligible families and businesses

Keith Orr

Posted By: Keith Orr

Posted March 17, 2021 / No comments

On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA). The $1.9 trillion law is intended to provide far-reaching relief from the economic and other repercussions of the ongoing COVID-19 pandemic. In addition to funding for testing, contact tracing, vaccinations, education, and state and local governments, the ARPA includes extensive

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