To help you make sure you don’t miss any important 2021 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. Date Deadline for February 1 …
Indra Nooyi, Former Chairman and CEO, PepsicoThis article was originally published in Fortune Fortune magazine, April 30, 2008, and can be found at https://archive.fortune.com/galleries/2008/fortune/0804/gallery.bestadvice.fortune/7.html Emphasis added. “My father was an absolutely wonderful human being. From him I learned to always assume positive intent. Whatever anybody says or does, assume positive intent. You will be amazed …
When you know the rules, you can party with your employees and deduct 100 percent of the cost. The IRS says that the following types of entertainment qualify for the 100 percent employee entertainment tax deduction: Holiday parties, annual picnics, and summer outings Maintaining a swimming pool, baseball diamond, bowling alley, or golf course The …
Deduct 100 Percent of Your Employee Recreation and Parties Read More »
Have you missed partying and having business meals with your prospects, customers, and employees? To help you get ready, check the table below for what you can do in 2021 and 2022 as the law stands now: Let GLO CPAs, help you wade through the do’s and don’ts about entertainment expenses!
You Can Have Tax-Free PPP Money AND Tax Credits from the Employee Retention Credit The CARES Act, enacted on March 27, 2020, prohibited you from getting both Paycheck Protection Program (PPP) money and tax credits from the Employee Retention Credit (ERC); you had to choose one benefit or the other. Now, thanks to the new …
IRS ANNOUNCES TAX RELIEF FOR TEXAS SEVERE WINTER STORM VICTIMS Did you suffer from the power outages? Did the freeze kill your landscaping? Did you have some plumbing bills for busted pipes? With all of this, you didn’t have enough to claim on your insurance because your deductible is high? There may be deductions that …
The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic. Below are brief summaries of the key aspects of the tax provisions in ARPA. Provisions Affecting Individuals Recovery rebate credits …
TAX PROVISIONS IN THE AMERICAN RESCUE PLAN ACT OF 2021 Read More »
Under pre-American Rescue Plan Act (ARPA) law, individuals with household income above 400% of the federal poverty line (FPL) weren’t eligible for the Premium Tax Credit (PTC). Under ARPA, for 2021 and 2022, the premium tax credit is available to taxpayers with household incomes that exceed 400% of the federal poverty line. This change will …
Columbus Day is a federal holiday here in the United States. It’s also celebrated in many countries in central and south America and also the Caribbean. In 2020, it’s observed here in the US on October 12 and can serve as a useful reminder of the time to file your taxes if you requested an …
With the COVID-19 pandemic still going on, you may be spending more time working from your home office. You may have taken some extra rooms for your business use. Is that okay? Section 280A(c) states that you may claim a home office based on the portion of the dwelling that you use exclusively and regularly …
