Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Month: March 2020
Landmark’s Response to COVID-19
Like you, Landmark has been monitoring the COVID-19 developments closely. Considering the time of year with the upcoming tax deadline along with the health and safety of our employees and clients, maintaining operations is a priority.
Coronavirus (COVID-19): Tax relief for small businesses
Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief.
More Details About the Tax Payment Deadline Extension
The IRS released Notice 2020-17 providing additional information related to the extension of the deadline for Federal income tax payments.
Congress Passes Families First Coronavirus Response Act
Congress has passed and the President has signed the Families First Coronavirus Response Act.
Multiple Income Streams: The Key to Sustainability for Nonprofits
Organizations with only one or two sources of revenue are particularly vulnerable to financial trouble. Now is the time to ensure your revenue streams are sufficiently diverse.
Tax Payments Deferred Until July 15
Treasury Secretary Steven Mnuchin announced that individual taxpayers who owe up to a million dollars in federal taxes can defer paying until July 15.
Business Owners Still Have Time to Set Up a SEP Plan for 2019
A Simplified Employee Pension (SEP) can still be set up for 2019, and you can make contributions to it that you can deduct on your 2019 income tax return.
Are There Embedded Leases Hiding in Your Contracts?
GAAP-compliant construction businesses with a calendar year end now have until 2021 to implement Accounting Standards Codification (ASC) Topic 842, Leases.
Compensation vs. Dividends: Determining Reasonable Compensation
There’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends because a corporation can deduct the salaries and bonuses that it pays executives.