With fall arriving, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth quarter 2020 tax filing deadlines.
The IRS has issued guidance to implement the deferral of the employee share of Social Security tax. But employers still have questions and concerns about whether, and how, to implement the deferral.
You may have heard the President has taken executive action to defer the employee portion of some workers’ Social Security taxes. Here’s a look at the issue.
Businesses that received PPP loans should be aware of the tax consequences. Here’s a look at the issue.
A meticulous approach to keeping business records can protect your tax deductions and help make an audit much less painful.
If you get a PPP loan and use the proceeds on certain expenses, the loan amount will be forgiven. Can you then deduct the expenses on your tax return? The IRS answers that question in new guidance.