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Tax filing deadline is coming up: What to do if you need more time

By |2021-05-06T20:45:52+00:00May 6th, 2021|Latest News|

“Tax day” is just around the corner. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021. The IRS postponed the usual April 15 due date due to the COVID-19 pandemic. If you still aren’t ready to file your return, you should request a tax-filing extension. Anyone can request one

The Restaurant Revitalization Fund is now live

By |2021-05-06T20:43:38+00:00May 6th, 2021|Latest News|

The COVID-19 pandemic has affected various industries in very different ways. Widespread lockdowns and discouraged movement have led to increased profitability for some manufacturers and many big-box retailers. The restaurant industry, however, has had a much harder go of it — especially smaller, privately owned businesses in economically challenged areas. In response, the Small Business Administration (SBA)

Why it’s important to meet the tax return filing and payment deadlines

By |2021-04-29T15:16:37+00:00April 29th, 2021|Latest News|

The May 17 deadline for filing your 2020 individual tax return is coming up soon. It’s important to file and pay your tax return on time to avoid penalties imposed by the IRS. Here are the basic rules. Failure to pay Separate penalties apply for failing to pay and failing to file. The failure-to-pay penalty

Is your wellness program built on a solid foundation?

By |2021-04-29T15:14:28+00:00April 29th, 2021|Latest News|

In a society increasingly conscious of well-being, with the costs of health care benefits remaining high, many businesses have established or are considering employee wellness programs. The Centers for Disease Control and Prevention (CDC) has defined these programs as “a health promotion activity or organization-wide policy designed to support healthy behaviors and improve health outcomes

Unemployed last year? Buying health insurance this year? You may benefit from favorable new changes

By |2021-04-23T15:48:50+00:00April 23rd, 2021|Latest News|

In recent months, there have been a number of tax changes that may affect your individual tax bill. Many of these changes were enacted to help mitigate the financial damage caused by COVID-19. Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. The 2020 return

Ensure competitive intelligence efforts are helpful, not harmful

By |2021-04-23T15:46:26+00:00April 23rd, 2021|Latest News|

With so many employees working remotely these days, engaging in competitive intelligence has never been easier. The Internet as a whole, and social media specifically, create a data-rich environment in which you can uncover a wide variety of information on what your competitors are up to. All you or an employee need do is open

Home sales: How to determine your “basis”

By |2021-04-16T20:02:48+00:00April 16th, 2021|Latest News|

The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it works You can claim an itemized deduction on your tax return for real estate taxes and home mortgage interest. Most other home ownership costs can’t

Changes to premium tax credit could increase penalty risk for some businesses

By |2021-04-16T20:00:06+00:00April 16th, 2021|Latest News|

The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an “Exchange”). A provision of the Affordable Care Act (ACA) created the credit. The American Rescue Plan Act (ARPA), signed into law in March 2021, made several significant enhancements

New law tax break may make child care less expensive

By |2021-03-25T14:05:11+00:00March 25th, 2021|Latest News|

The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021. This is the credit available for expenses a taxpayer pays for the care of qualifying children under the age of 13 so that the taxpayer can be gainfully employed. Note that a credit reduces your

COBRA provisions play critical role in COVID-19 relief law

By |2021-03-25T14:02:38+00:00March 25th, 2021|Latest News|

During the COVID-19 pandemic, many employees and their families have lost group health plan coverage because of layoffs or reduced hours. If your business has had to take such steps, and it’s required to offer continuing health care coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA), the recently passed American Rescue Plan Act (ARPA)

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