A meticulous approach to keeping business records can protect your tax deductions and help make an audit much less painful.
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SEnate Passes PPP Fix which will allow more flexibility in using the PPP funds passed the Senate on June 3.
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If you’re married and you don’t work outside the home, you still may be able to contribute to an IRA. Here are the rules for spousal IRAs.
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The CARES Act has provided some help for people with student loans. And if you do make some payments this year, you may be able to deduct the interest on your tax return. Here are the rules.
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Financially stable nonprofits have a good mix of revenue sources, with no one source accounting for more than 30% of the budget. How does your organization stack up? If you need help, read on.
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Colin Blalock joins Erik Christensen of Bulldog Movers to discuss issues relative to where we are today.
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Food and financial insecurity have increased during the coronavirus (COVID-19) pandemic. If your business is donating to charity to help ease the pain, you may be eligible for enhanced charitable donation deductions.
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The tax consequences of obtaining PPP loan forgiveness and other federal relief options can prove complicated, especially with the IRS and the U.S. Treasury Department regularly releasing new regulations and guidance. We can help you keep up with the latest developments and what they mean for you.
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May 14, 2020, is the revised deadline to repay Paycheck Protection Program loans for borrowers who have chosen the Small Business Administration’s “good faith” self-certification of eligibility option.
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The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes several changes that encourage charitable giving during the coronavirus (COVID-19) crisis. This is welcome news for certain public charities, including churches, educational organizations, hospitals, medical research organizations and food banks. Here's an overview of the tax rules for deducting charitable contributions — and how they've temporarily changed for 2020.
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The CARES Act includes favorable changes to the rules for deducting net operating losses (NOLs). Here’s how.
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You can keep your nonprofit’s board members in touch and able to make decisions by facilitating virtual board meetings. But be sure to check state laws and your organization’s bylaws first.
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The just-passed $484 billion Interim Stimulus Plan, among other things, replenishes Paycheck Protection Program funds.
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Your nonprofit’s supporters may be unable to make monetary donations in these uncertain times. If they offer gifts in kind or donated services instead, do you know how to account for these donations?
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A drafting error by Congress meant that some improvements to interior parts of nonresidential buildings had to be deducted over 39 years. But a new law that provides COVID-19 relief fixes the error and may result in revenue for eligible businesses.
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Desperate appeals to donors may not be the smartest strategy during the COVID-19 crisis. Here’s how to approach supporters and earn their long-term loyalty.
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The newest Interim Final Rule for the CARES Act’s Paycheck Protection Program was released April 14, 2020, giving additional clarity for individuals with self-employment income or who are a sole proprietor.
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In the wake of the coronavirus (COVID-19) crisis, the IRS and U.S. Department of Treasury are providing taxpayers additional relief to ease tax burdens.
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The coronavirus (COVID-19) crisis has resulted in unprecedented challenges for employers. Here are the details of some relief from the federal government.
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