President Trump signed the COVID-19 relief package over the weekend, and with that came some updates to be aware of for the upcoming weeks and tax season. Some of these updates include new stimulus information, along with new rules regarding meal expenses for...
The Paycheck Protection Program (PPP) was created as a part of the CARES Act for coronavirus aid. This program was created to help small businesses by providing funds to pay up to 8 weeks of payroll and benefit costs. While the PPP loan was extremely beneficial to so...
1099-NEC In 2020, taxpayers will be required to report nonemployee compensation on Form 1099-NEC. In years past, this would have been reported on Form 1099-MISC. Starting this year, all nonemployee compensation paid during 2020 will need to be reported on 1099-NEC...
As we approach the end of the year, we wanted to point out some changes made in the 2018 Tax Cuts & Jobs Act. I know many of you have already been in contact with our office regarding projection calculations – – thank you! Below is a summary of some...
