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Videos and Articles

Enhanced charitable deductions extended for individuals through 2021

Enhanced charitable deductions extended for individuals through 2021

Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers.
Colorado restores certain business deductions related to the CARES Act

Colorado restores certain business deductions related to the CARES Act

Colorado enacts law restoring certain deductions related the to the CARES Act for both business and individual taxpayers.
New IRS guidance on health FSAs and dependent care assistance programs

New IRS guidance on health FSAs and dependent care assistance programs

Employers can add flexibility to their health flexible spending accounts and dependent care assistance programs per Notice 2021-15.
CAA 2021 Changes to Paid Sick Leave and FSAs

CAA 2021 Changes to Paid Sick Leave and FSAs

The Consolidated Appropriations Act, 2021 was signed into law late last year, and in this video, we will discuss how the Act affected paid sick and family leave as well as flexible spending accounts.
Expansion of the Employee Retention Tax Credit

Expansion of the Employee Retention Tax Credit

The Consolidated Appropriations Act, 2021 made significant changes to the Employee Retention Tax Credit by extending relief to a greater number of employers and increasing the overall tax benefit. In this video, we will provide an overview of the changes and how they apply for the 2020 and 2021 tax years.
What You Need To Know About Form 1099-NEC

What You Need To Know About Form 1099-NEC

In 2020, the IRS introduced Form 1099-NEC for reporting nonemployee compensation. Learn about Form 1099-NEC and how it differs from Form 1099-MISC.
President Biden’s tax plan

President Biden’s tax plan

Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.
PPP forgiveness and expenses: State tax implications

PPP forgiveness and expenses: State tax implications

States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.
IRS releases final 199A regulations for co-ops and their patrons

IRS releases final 199A regulations for co-ops and their patrons

Final regulations on the section 199A deduction and the DPAD for certain specified co-ops closely mirror guidance in proposed regulations.
Employee retention credit significantly expanded for 2021

Employee retention credit significantly expanded for 2021

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13

PPP reopening for first draw borrowers Jan. 11; second draw Jan. 13

Treasury Department and SBA announce reopening dates for Paycheck Protection Program - Jan. 11, 2021 and Jan. 13, 2021.
Game-changing updates to the Employee Retention Tax Credit

Game-changing updates to the Employee Retention Tax Credit

Paycheck Protection Program (PPP) loan recipients may now qualify for the employee retention tax credit based on new legislation signed.
SBA releases guidance on PPP second draw loans

SBA releases guidance on PPP second draw loans

SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second draw program.
SBA releases guidance on PPP continued access program

SBA releases guidance on PPP continued access program

SBA releases two PPP reopening guidance packages. The first for new borrowers and the second for the second-draw program.
Retirement plans under the Consolidated Appropriations Act, 2021

Retirement plans under the Consolidated Appropriations Act, 2021

The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.