President-elect Joe Biden has announced his plan to provide additional aid to Americans struggling in the wake of the COVID-19 pandemic. This proposed plan would deploy more than $1.9 trillion in relief to businesses, individuals and governmental ent...

The Small Business Administration (SBA) has released formal guidance on the second-draw Paycheck Protection Program (PPP) loan, enacted as part of the Consolidated Appropriations Act of 2021, for those businesses that previously received a PPP loan i...

The Internal Revenue Service (IRS) has issued new standard mileage rates for operating an automobile for business, charitable, medical or moving purposes in 2021. Effective as of Jan. 1, 2021, the standard mileage rates for the use of a car (also van...

The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide to switch from one entity type to another. Although S corporations can provide substantial tax benefits over C...

In light of the recent passing of the new stimulus legislation, the Internal Revenue Service (IRS) has released guidance clarifying the deductibility of expenses paid with Paycheck Protection Program (PPP) funds. Prior to the COVID-related Tax Relief...

With the recent passing of The Consolidated Appropriations Act, 2021 (“CAA”), employers will continue to benefit from the Employee Retention Tax Credit through June 30, 2021. Initially created by the Coronavirus Aid, Relief, and Economic Security...

On December 27, 2020, President Trump signed a $2.3 trillion Coronavirus relief and government funding bill, the Consolidated Appropriations Act of 2021, into law extending billions of dollars in relief aid to individuals and businesses across the co...

Congress has finally settled on a new COVID-19 stimulus legislation – The Emergency Coronavirus Relief Act of 2020, which expands the employee retention credit, extends various expiring tax credits, distributes stimulus payments and allows the dedu...