Many taxpayers feel that ever familiar feeling of dread come tax time knowing that they will be hit with a high tax bill. Instead of resting easy that you or your business has had a good year and your salary…
The Paycheck Protection Program PPP is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The PPP is intended to provide American small businesses with eight weeks of cash-flow assistance to cover payroll and other costs through forgivable,…
Foreign Investment in Real Property Tax Act (FIRPTA) withholding is the withholding of tax on dispositions of United States real property interests. FIRPTA applies to foreign individuals who intend to sell a real property located in the United States. FIRPTA…
The world has changed dramatically over the last few months due to the Coronavirus pandemic. Many existing small businesses are changing gears and revamping their services and offerings and many new businesses are being started. It is important to have…
The Economic Injury Disaster Loan (EDIL) advance or EDIL Grant is free money from the federal government to help offset the financial hardships due to the COVID-19 pandemic. This loan, while backed by the Small Business Administration (SBA) is also…
The extended 2019 tax filing and payment deadline is coming up on July 15. The postponement from the standard April 15 deadline was intended to provide temporary tax relief due to the COVID-19 pandemic. Taxpayers and businesses who had 2019…
You can’t turn on the news these days without new legislation affecting everything we know about doing business during the Coronavirus pandemic. Navigating through new legislation can affect almost every facet of your business. During this time of uncertainty, your…
Many small business owners feel lost in the shuffle when it comes to securing a Paycheck Protection Program (PPP) loan. The program was created to help small businesses stay open and continue to pay employees for up to 8 weeks,…
Did you give a gift during the tax year and are you unsure if it is taxable? We get “gift” related tax questions all the time. As it turns out, some gifts are taxable and some are not. Now, let’s…
As part of the recently passed $2.3 trillion economic lifeline package, the Paycheck Protection Program will provide forgivable loans to small businesses due to the unprecedented economic disruption caused COVID-19. CPA Accounting & Tax Services has outlined important items you…