The CARES Act made changes to excess business losses, including some changes that are retroactive and some that may create opportunities to file an amended return.
Excess Business Loss Limits Change with CARES Act
Month: August 2020
Nexus Basics and How the Wayfair Supreme Court Case Changed Everything
Nexus as a tax concept is nothing new, but it has wrestled its way into our mainstream news outlets in recent years. At first, it was economic presence that topped the headlines, …
What Does the Payroll Tax Deferral Mean for Your Business?
On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people.
3 CARES Act Provisions for Retirement Accounts
A few provisions of the CARES Act have provided some financial relief to retirees and retirement savers. Here are three highlights.
What are the Tax Consequences of a PPP Loan?
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax …
Crisis Preparation: Have a Plan in Place for the Future
As contractors continue to work back toward normalcy, it’s critical to learn from recent experience and apply those lessons to put a plan in place for the future.
Filing a Cash Transaction Report for your Business
You may be required to submit a cash transaction report to the IRS if you receive large amounts of cash or cash equivalents.