Tax & Accounting Blog
Tax & Accounting Blog
1975
The IRS has just released Draft Form 8829 (Expenses for Business Use of Home). Note the PPP deductibility reminder from the IRS. https://www.irs.gov/pub/irs-dft/i8829–dft.pdf Expenses Related…
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On August 8th, President Trump signed an Executive Order allowing employers to defer employees’ payroll taxes from September 1 through December 31, 2020. The loan forgiveness rules for…
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The Small Business Association issued a new PPP Interim Final Rule late evening 8/11. Appeal of SBA Loan Review Decision Under the Paycheck Protection Program.…
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Individuals made a record amount of charitable donations in 2019 according to a recent report, despite warnings that changes made by the Tax Cuts and…
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As we approach the end of the day Friday, 8/7, and the shutdown of the PPP loan program tomorrow, 8/8, the Administration and Congressional leadership…
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The AICPA joined over 170 organizations in a letter sent to Congressional leadership on August 4th urging Congress to “include a technical correction addressing the…
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Treasury and the SBA released 10 pages of FAQs on the PPP Loan Forgiveness this afternoon, 8/4. During recent testimony before Congress, both Treasury and…
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The pandemic has had a significant economic impact on restaurants and bars as a result of mandated closures and ongoing challenges with respect to either…
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Taxpayers can include income from certain service businesses when calculating the deduction under IRC §199A. This 20% business deduction is also known as the “qualified…
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Pelosi, Schumer, Meadows and Mnuchin now meeting in effort to close the wide gap between Democrats and Republicans for the fifth coronavirus aid bill. Keep…
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