Restaurant Revitalization Funding Available to Restaurants, Bars
The U.S. Small Business Administration (SBA) is awarding $28.6 billion in funding to restaurants, bars, and other similar places of business that serve food or drink.
Liabilities for unused time off mount as pandemic lingers
During the pandemic, many employees have postponed using their allotted paid time off until COVID-related restrictions are lifted and safety concerns subside. This situation has caused an increase in accruals for certain employers.
Providing education assistance to employees? Follow these rules
Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge.
Minimize the need to make year-end financial adjustments
If your not-for-profit periodically prepares internal financial statements for your board, you may have noticed that your auditors propose adjustments to these interim statements at year end. Why do auditors do this? Generally, it reflects differences due to cash basis vs.
Claiming the business energy credit for using alternative energy
Are you wondering whether alternative energy technologies can help you manage energy costs in your business? If so, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types of alternative energy property.
American Rescue Plan Act for local governments: Pre-award guidance from Treasury
The American Rescue Plan Act will provide $350 billion in emergency funding for state, local, territorial, and Tribal governments. The U.S.
Should a tax apportionment clause be in your estate plan?
Even though the federal gift and estate tax exemption is currently very high ($11.7 million for 2021), there are families that still have to contend with significant federal estate tax liability.
Reduce your nonprofit’s liability risk with D&O insurance
Not-for-profit organizations may operate under the assumption that their missions and their board members’ good intentions protect them from litigation. Sometimes, this assumption is proven wrong with a lawsuit.
Know the ins and outs of “reasonable compensation” for a corporate business owner
Owners of incorporated businesses know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments.
Changes to premium tax credit could increase penalty risk for some businesses
The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an “Exchange”). A provision of the Affordable Care Act (ACA) created the credit.