Learn about the key tax provisions for individuals and businesses included in the Consolidated Appropriations Act of 2021.
Month: December 2020
The QBI deduction basics and a year-end tax tip that might help you qualify
Some taxpayers may be able to achieve significant savings with the QBI deduction by taking certain steps at year end.
The importance of S corporation basis and distribution elections
Do you operate your business as an S corporation? Be aware that several elections are available to an S corp. or its shareholders that can affect the basis adjustments caused by distributions and other events.
An Overview of Cash-Flow Planning Opportunities in the CARES Act
The Coronavirus Aid, Relief, and Economic Security (CARES) Act’s many provisions provide emergency relief for businesses suffering financial hardships due to COVID-19. The most widely publicized provision has been the Paycheck Protection Program Loan (PPP Loan).