On March 18, 2020, President Trump signed the Families First Coronavirus Response Act (FFCRA). Employers with fewer than 500 employees will be required to provide emergency paid sick leave and family leave to employees affected by COVID-19. The new law is effective April 1, 2020 through December 31, 2020. Exemptions are available for small businesses with less than 50 employees … [Read more...] about Families First Coronavirus Response Act (FFCRA)
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act aiming to boost the economy with over $2 trillion in relief. With much funding going towards hospitals, testing, and transportation, individuals and businesses will feel the relief as well. We are attempting to summarize some of the key provisions in the Act, though we … [Read more...] about The Coronavirus Aid, Relief, and Economic Security (CARES) Act
By: Mike Helton, CPA It was 1993. I had just landed an internship at a CPA firm near my college campus. I was getting baptized in 1040’s and State tangible tax returns and learning how to calculate double-declining balance depreciation (by hand). It was after tax season, so, at some point during the day, the office Partner in Charge visits my little cubicle to tell me … [Read more...] about Blockchain – A New Revolution?
By C. Brett Cooper, CPA•ABV, ASA•BV/IA, BVAL, CRFAC We hear there’s a common saying in courtroom proceedings that a lawyer should never ask a witness a question unless they already know the answer. We suggest that the same basic concept applies to your business when you place it on the market for sale. The following diagram depicts the typical timeline and … [Read more...] about Selling Your Business? Are Your Earnings “Quality Earnings”?
Tax filing season is upon us. The IRS will start accepting 2019 electronically filed returns on January 27. Let us know if you need help or have any questions regarding 2019 filings. Also, keep in mind the new 2020 key figures and limits recently released by the IRS. Here is a breakdown: 2020 Retirement Planning The contribution limit for employees who participate in a … [Read more...] about Key 2020 Tax Figures