If you need help planning your business tax filing deadlines for October 2020, this article is for you. We explain the most important deadlines for this month so you can stay on top of the due dates that matter. October 15 – Corporations File a 2019 calendar year income tax return (Form 1120 or 1120-A) …
For Business
Actually, A Recession Is A Great Time to Launch A New Startup
Wondering if a recession is a great time to launch a new startup? It’s safe to say that there are a lot of people worried about a global recession. Thanks to the economic slowdown that the pandemic has brought with it, people are watching their money. And your average entrepreneur and startup founder is chief …
Actually, A Recession Is A Great Time to Launch A New StartupRead More
Ready for the Reappearance of the 1099-NEC?
The Internal Revenue Service resurrected a form unused since the early 1980s. Form 1099-NEC (the NEC stands for non-employee compensation) is now back in use. This form is used to report non-employee compensation instead of the 1099-MISC. The 1099-MISC has been used since 1983 to report payments to contract workers and freelancers to the IRS. …
10 Tips for Better Budgeting…
Need some tips for better budgeting? If you already have a budget, it’s probably been difficult for you to stick with it for the last several months. Unless you provide products and/or services that have been in great demand since the COVID-19 pandemic took hold, you’ve had to adjust your budget significantly. Better days are …
Is the Temporary Deferral of Employee Payroll Tax Worth It?
Is the Temporary Deferral of Employee Payroll Tax Worth It? At this time, there are still many questions… President Trump issued a Presidential Memorandum on August 8, 2020. This memorandum directs the Treasury Secretary to use his authority to defer the withholding, deposit and payment of employees’ portions of Social Security taxes from Sept 1 …
Is the Temporary Deferral of Employee Payroll Tax Worth It?Read More
Loan Application Period for The Paycheck Protection Program has been Extended
If you missed the opportunity to apply for a Paycheck Protection Program (PPP) loan – you now have another chance! The Paycheck Protection Program has been extended, allowing you more time to file. Congress overwhelmingly voted to extend the application period for a PPP loan through August 8, 2020. This gives folks an additional 5½ …
Loan Application Period for The Paycheck Protection Program has been ExtendedRead More
Post-Pandemic Trends Shifting the Economy for Small Businesses
The ongoing COVID-19 pandemic has created significant challenges for small and large businesses alike around the world. However, there are also some positive changes taking place. These new post-pandemic trends and behaviors may end up being better for small business everywhere. In fact, there are a few core trends that are major opportunities. Opportunities just …
Post-Pandemic Trends Shifting the Economy for Small BusinessesRead More
What the Employee Retention Credit Means to You – A Video
Congress has authorized an employee retention credit. Watch the video below to learn what the Employee Retention Credit means to you. Employers eligible for the Employee Retention Credit are generally those whose trade or business has been affected by COVID. If your business was curtailed as a result of the COVID-19 outbreak, you may be …
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Employers Can Defer Payroll Taxes
One of the benefits included in the COVID-19 epidemic stimulus package is the ability for an employer to defer payment of the employer’s share of certain federal payroll taxes. The deferral applies to the employer’s 6.2% share of the Social Security (OASDI) payroll tax. The deferral does not apply to the employer’s 1.45% share of …
