Employee Retention Tax Credit

Employee Retention Payroll Tax Credit - Do You Qualify?

On December 27, 2020, The Consolidated Appropriations Act 2021 (CAA) was signed into law. The new law enacted Section 2017 of The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTRA 2020). This Act extends the COVID-19 employee retention…
PPP loans

PPP loans have reopened: Let’s review!

The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get PPP loans to help during the COVID-19 crisis (or you received one last year), you may…
COVID-19 relief law

The COVID-19 relief law: What’s in it for you?

The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of the highlights of the Consolidated Appropriations Act, which also contains two other laws: the COVID-related…
PPP loans

In need of another PPP loan for your small business?

Congress recently passed, and President Trump signed, a new law providing additional relief for businesses and individuals during the COVID-19 pandemic. One item of interest for small business owners in the Consolidated Appropriations Act (CAA)…
COVID-19 relief bill

New COVID-19 relief bill makes favorable tax breaks

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations…
Covid-19 Relief Bill

The Covid-19 Relief Bill, the End-of-Year Gift From Congress

On December 27, 2020 President Trump approved the $900 billion Covid-19 Relief Bill. The bill could significantly reduce your 2020 taxes and provide additional relief in 2021. The key provisions of the legislation as we understand them are below.…
reopen previous claim

Returning to Unemployment? Reopen Your Claim

The Unemployment Insurance Agency (UIA) provided guidance to workers and employers who may be affected by the new shutdown on November 18th. Reopening Unemployment Claims Michiganders who were on unemployment, went back to work, and are…
excess business losses

CARES Act made changes to excess business losses

The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be opportunities for some businesses to file amended tax returns. If you hold…
payroll tax deferral

The President’s Action on Payroll Tax Deferral

On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These actions on payroll tax deferral were taken in an effort to offer…