Employee Retention Tax Credit

The Employee Retention Tax Credit (ERTC) is a refundable credit that eligible businesses can claim on certain wages paid to their employees. This credit can be claimed through December 31,…

EIDL Updates

The SBA recently announced some major changes to the Economic Injury Disaster Loan (EIDL). The EIDL loan was originally a $150,000 loan (not forgivable like the PPP) at 3.75% interest…

Q3 Tax Planning

Tax planning? Now? But it’s not even close to tax season! Are you on target for a successful 2021 tax season? By the end of Q3, all our clients (more…

Bonus Depreciation of Assets

What is Bonus Depreciation? As a shop owner, if you invest in certain qualifying assets, the cost, for tax accounting purposes, has traditionally been spread out over the useful life…

2021 Child Tax Credits

In March of this year, Congress passed The American Rescue Plan Act. This included an increase in the Child Tax Credit for 2021 only. Under the old laws, this credit…

5 Things To Do Now That Tax Season Is Over

If you filed for an extension, get on with it. Sometimes shop owners need to file for various extensions which means that tax season isn’t actually over. Take advantage of…

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