New SBA PPP Loan guidance for sole-proprietorship and partnerships was issued late on 4/14/20. The 2019 Sch C is required for determining the amount of
The CARES Act provides a refundable payroll tax credit (against employER portion of Social Security Tax) for 50 percent of wages paid by employers to
Section. 2302(a)(1) of the CARES Act allows taxpayers to defer paying the employer portion of the social security taxes on payroll beginning on 3/27/20 (date
With President Trump signing the massive $2.2. trillion coronavirus stimulus bill last week after it sped through Congress, many Americans will soon receive a much-needed
IR-2020-59, March 25, 2020 WASHINGTON — To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of
IR-2020-58, March 21, 2020 WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically
SIMPLE IRA contributions include: salary reduction contributions andemployer contributions: a. matching contributions or b. nonelective contributions. No other contributions can be made to a SIMPLE
The 2020 mileage rate for business use has been announced at 57.5 cents per mile. Read more…https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2020
The IRS has released the new Form W-4 that new employees must use and employees who wish to update their withholding in 2020. https://www.irs.gov/pub/irs-pdf/fw4.pdf For
The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $19,000 to
The Internal Revenue Service today released an updated Withholding Calculator on IRS.gov and a new version of Form W-4 to help taxpayers check their 2018
Giving is a sign of gratitude and appreciation. It’s a common saying that “giving is better than receiving”. The giver has the benefit of feeling