
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 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…

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…

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)…

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…

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.…

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…

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…

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…