The Work Opportunity Tax Credit is a general business credit available to employers who hire people from targeted groups who face significant barriers to employment. These targeted groups include certain veterans, recipients of supplemental security income benefits, formerly incarcerated individuals, summer youth employees, and vocational rehabilitation referrals. This credit encourages workplace diversity and creates access to [...]
The following represents a summary of the recently-signed-into-law CARES Act - also referred to as the Stimulus Package. Specifically, we are providing a summary of the Paycheck Protection Program. Title 1 of the CARES Act, entitled "Keeping American Workers Paid and Employed Act," provides relief for small businesses and their employees who are adversely affected by [...]
With stay-in-place guidelines extended due to the continuing spread of coronavirus, our offices will remain closed to the public at least through April 30, 2020. We have (understandably) been receiving many questions from our clients about taxes, as well as asking for clarification about recently enacted legislation impacting both individuals and small businesses. Unfortunately, we do [...]
Right now, your highest priority is the health of those you love and yourself. If you have time to read about some non-medical but important matters related to the health crisis, however, here is a summary of ` already taken and federal tax legislation already enacted to ease tax compliance burdens and economic pain caused by [...]
The following article was published by the IRS. One of the advantages of someone running their own business is hiring family members. But when including family members in business operations, certain tax treatments and employment tax rules apply. Here are some facts to know when working with a spouse, parent or child. Both spouses carrying on [...]
