A new law was signed in early March by the American Rescue Plan Act (ARPA) to offer widespread financial relief to small businesses adversely affected by the COVID-19 pandemic. If you own a small company, you may want to explore this or the Small Business Administration’s (SBA’s) Economic Injury Disaster Loan (EIDL) program, both explained […]

Life insurance proceeds are generally non-taxable, however, if you have a life insurance policy in place you will want to ensure that the benefits your family will receive won’t be in included in your estate after death to avoid federal estate tax. Current exemption amounts For 2021, the federal estate and gift tax exemption is […]

If you are in the market to purchase or replace a vehicle that you will use in your business you should consider the tax benefits before making your final decision. You may be able to benefit from certain tax rules discussed below if you choose a heavy sport utility vehicle (SUV). Bonus depreciation Under current […]