A business may be able to claim casualty property loss or theft deductions caused by riots on its tax return. Here’s how a loss is figured for tax purposes.
Here are some tried-and-true suggestions to help keep your business on the right track during this pandemic.
One of the tax breaks that President Trump has proposed to help restaurants is an increase in the amount allowed for business meal and entertainment deductions.
The IRS has issued guidance clarifying that certain forgiven expenses aren’t deductible if a business has received a Paycheck Protection Program (PPP) loan.
While the CARES Act made several changes to unemployment, the normal rules and processes still apply if an employee refuses to return to work.
In order to incentivize charitable giving, the CARES Act made some liberalizations to the rules governing charitable deductions.
Let’s look at three issues that contractors should keep an eye on in light of the CARES Act: payroll, losses and qualified improvement property.
You may be able to benefit by carrying a net operating loss (NOL) into a different year — a year in which you have taxable income — and taking a deduction for it against that …
As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But
The CARES Act contains a beneficial change in the tax rules for many qualified improvement properties.