These past few months have been a few of the more challenging we have faced. Going forward, for as long as it’s useful, we will bring you a regular round up of relevant COVID-19 relief information highlighting what you need to know to manage through this crisis. Click here for key updates. Checklist for SBA […]
Author Archives: rudleradmin
The potential benefits and risks of a mezzanine loan.
The economic impact of the COVID-19 pandemic has lowered many companies’ revenue but may have also opened opportunities for others to expand or pivot into more profitable areas. If your company needs working capital to grow, rather than simply survive, you might want to consider a mezzanine loan. For most small to midsize businesses, accessing […]
Key things you need to know if you are working from home and collecting unemployment.
The COVID-19 pandemic cause many businesses to shut down, leaving millions of taxpayers out of work. The following is basic information about these two common situations and how these changes have tax implications. 1. Working from home. Many employees have been told not to come into their workplaces due to the pandemic. If you’re an […]
2020 Q4 Tax Calendar: Important Tax Deadlines and Dates for Businesses and Other Employers
Use the tax calendar for specific IRS due dates for filing your tax forms and paying your taxes. Different due dates apply to corporations and individuals, and certain individuals have due dates that do not pertain to others. Thursday, October 15 If a calendar-year C corporation that filed an automatic six-month extension: File a 2019 […]
Make customer service a top priority
As companies have adjusted to operating during the COVID-19 pandemic and the resulting economic fallout, prioritizing customer service has become more important than ever. Here are some foundational ways to strengthen customer service during these difficult and uncertain times. It is more important now than ever before to prioritize customer service. You must have a […]
Homebuyers can deduct seller paid points.
If you’re buying a home, or you just bought one, you may wonder if you can deduct mortgage points paid on your behalf by the seller. Yes, you can, subject to some important limitations described below. According to the National Association of Realtors (NAR) existing home sales and prices are up nationwide compared to last […]
Should employers defer employees’ Social Security taxes?
Recent presidential action allows employers to defer, not forgive, withholding, depositing and payment of certain payroll tax obligations. The IRS has provided guidance in Notice 2020-65 that was issued to implement President Trump’s executive memorandum signed on August 8. Private employers still have questions and concerns about whether, and how, to implement the optional deferral. […]
ESOPs may offer benefits for your employees.
Would business go smoother if your employees worked as if they owned the company? An employee stock ownership plan (ESOP) could make this a reality. Under an ESOP, employee participants take part ownership of the business through a retirement savings arrangement. Meanwhile, the business and its existing owner(s) can reap the benefits from tax breaks, […]
Have you been wondering whether or not there are tax breaks related to student books?
For most students, the 2020 school year has begun. Despite the COVID-19 pandemic, schools are starting back whether it is students going back to school in-person, remotely, or a hybrid schedule of the two. Parents may be eligible for certain tax breaks to help out with the cost of your children going back. Here is […]
Bonus depreciation can be confusing. Here are 5 facts to keep you informed.
Most business owners are aware of the 100% bonus depreciation tax break that you can receive on certain qualifying property. Here are 5 important facts that business owners need to be aware of about bonus depreciation. 1. Bonus depreciation is scheduled to phase out Under current law, 100% bonus depreciation will be phased out in […]