What if you could save enough for your child to go to college debt-free? It might sound impossible, but with dedication, hard work, and careful planning, you can do just that. According to Dave Ramsey, American personal finance advisor, here are the top three tax-favored plans to get started.The Education Savings Account (ESA)Otherwise known as [...]
In a continuously changing business environment, small businesses have a challenge to keep up. It’s especially expensive to keep pace with ever changing technology. Luckily, with affordable cloud accounting solutions, small businesses can maintain a competitive edge.What is Cloud AccountingCloud accounting involves moving your business books online. Unlike desktop accounting systems, cloud accounting permits you [...]
Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic. The 628-page American Rescue Plan Act (ARPA) includes $1.9 trillion in funding for individuals, businesses, and state and local governments. The ARPA extends and expands some of the critical provisions in the CARES Act and the Consolidated [...]
This week, the IRS issued guidance in Notice 2021-20 that can be relied upon for the Employee Retention Credit (ERC) for 2020 and we expect similar guidance for the 2021 credit. The credit is now available to a significantly higher number of employers, including those who received a PPP loan, whose: 1-Operations were fully [...]
Good tax professionals ask the right questions to ensure they understand your situation and can help you to the best extent the law allows. Given the host of pandemic-related tax changes for 2020, it’s good to keep these four questions below in mind. If your tax preparer doesn’t ask these questions in your tax organizer [...]
