California Tax Updates for 3/17
Post 1: New California sales and use tax rates take effect on April 1, 2021. The CA Dept. of Tax and Fee Administration (CDTFA) has announced new rates that were approved by CA voters in [...]
New Law: Parents and Other Eligible Americans to Receive Direct Payments
The American Rescue Plan Act, signed into law on March 11, provides a variety of tax and financial relief to help mitigate the effects of the COVID-19 pandemic. Among the many initiatives are direct payments [...]
Business Highlights in the New American Rescue Plan Act
N President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing relief to individuals, there are also several tax breaks [...]
The Latest on COVID-Related Deadline Extensions for Health Care Benefits
The U.S. Department of Labor (DOL) recently issued EBSA Disaster Relief Notice 2021-01, which is of interest to employers. It clarifies the duration of certain COVID-19-related deadline extensions that apply to health care benefits plans. Extensions [...]
Get Credit for IRA Contributions Made by April 15 on 2020 Tax Returns
The Internal Revenue Service notes that taxpayers of all ages may be able to claim a deduction on their 2020 tax return for contributions to their Individual Retirement Arrangement made through April 15, 2021. There [...]
PPP Video Updates with Kelly McGlinchy from Linkenheimer LLP
Learn more about what is happening in regards to PPP loans, forgiveness and other updates with Kelly from Linkenheimer. If you have questions, please contact your Linkenheimer CPA.
Estimated Tax Payments: The Deadline for the First 2021 Installment is Coming Up
April 15 is not only the deadline for filing your 2020 tax return, it’s also the deadline for the first quarterly estimated tax payment for 2021, if you’re required to make one. You may have [...]
Launching a Small Business? Here are Some Tax Considerations
While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these people start out operating as sole proprietors. Here are some tax rules [...]
PPP Adjusted to Prioritize Very Small Businesses
When the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) last year, the program’s stated objective was “to provide a direct incentive for small businesses to keep their workers on the payroll.” However, [...]
Retiring Soon? Recent Law Changes May Have an Impact on Your Retirement Savings
If you’re approaching retirement, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was recently enacted that makes significant changes [...]