BILL PASSES HOUSE AND SENATE WITH OVERWHELMING BIPARTISIAN SUPPORT PPP ELIGIBLE EXPENSES DEDUCTIBLE The Consolidated Appropriations Act, 2021 has passed both the House and Senate and will now move to the President to be signed into law. The most significant
PPP ELIGIBLE EXPENSES DEDUCTIBLE The Consolidated Appropriations Act, 2021 is currently before the House and expected to pass tonight. The Act will then move to the Senate floor, where it is expected to pass and be sent to the President for signature.
As your company plans for the coming year, management should assess your strengths, weaknesses, opportunities and threats. A SWOT analysis identifies what you’re doing right (and wrong) and what outside forces could impact performance in a positive (or negative) manner.
Effective Jan. 1, 2021, six Indiana county income tax rates will increase, according to the Indiana Department of Revenue (DOR). Local income tax rates are determined by county officials and provided to DOR for review regarding compliance with Indiana law. Below are
Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run afoul of the “wash sale” rule. IRS May Disallow the Loss Under this rule, if
Many employees take advantage of the opportunity to save taxes by placing funds in their employer’s health or dependent care flexible spending arrangements (FSAs). As the end of 2020 nears, here are some rules and reminders to keep in mind.
The IRS has announced starting in January 2021, the Identity Protection (IP) PIN opt-in program will be expanded to all taxpayers who can properly verify their identities. The IP PIN is a six-digit number assigned to eligible taxpayers to help
As we approach year end, companies need to be aware of how COVID-19 and the subsequent increase in teleworking/remote workers, affects their employees’ state withholdings and possible new state filing obligations for the business. Income Tax Withholding for Remote Workers
Centers for Medicare and Medicaid Services (CMS) Evaluation and Management (E&M) Coding Changes May Impact Work Relative Value Unit (wRVU) Based Physician Compensation Arrangements and Fair Market Value Physician contracts including those with wRVU based compensation components may need to
There is no uniformity among states regarding state conformity to the CARES Act, which was passed on March 27, 2020. Currently, Indiana does not conform. Indiana is a static conformity state, which means Indiana doesn’t automatically follow changes to the Internal Revenue Code
Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals from these tax-deferred retirement vehicles. There are three areas where
Many Americans receive disability income. You may wonder if — and how — it’s taxed. As is often the case with tax questions, the answer is … it depends. The key factor is who paid for the benefit. If the
