by briesterer | Mar 26, 2021 | Tax & Accounting
On Thursday of last week, President Joe Biden signed the $1.9 trillion coronavirus relief package, entitled the New American Rescue Plan Act, into law. It was created to help the financial hardships brought on by COVID-19. The bill is geared to help individuals as...
by briesterer | Mar 26, 2021 | Tax & Accounting
The IRS and the U.S. Department of Treasury announced yesterday that the 2021 income tax filing deadline has been extended from April 15, 2021, to May 17, 2021. The IRS will be providing additional guidance in the coming days. Individuals can also delay federal income...
by briesterer | Mar 18, 2021 | Tax & Accounting
Are you in the market for a new vehicle? If you jump on the electric vehicle bandwagon, you might be eligible for a sizable federal income tax credit. However, not every electric vehicle qualifies for credit. And the tax break is being phased out or is already phased...
by briesterer | Mar 18, 2021 | Tax & Accounting
What can not-for-profit organizations expect in 2021 and beyond? One recent report, “11 Trends in Philanthropy for 2021,” offers some answers. Produced by the Dorothy A. Johnson Center for Philanthropy at Grand Valley State University (Grand Rapids,...
by briesterer | Mar 8, 2021 | Tax & Accounting
Restaurants have struggled mightily during the COVID-19 pandemic. Thankfully, they’re specifically targeted for a new tax relief measure found in the massive Consolidated Appropriations Act (CAA), which became law on December 27, 2020. The new provision creates a...
by briesterer | Mar 8, 2021 | Tax & Accounting
Small business tax returns for those who took advantage of the Payroll Protection Program (PPP) are facing a challenge for the 2020 tax year. Congress and the IRS are at odds over small business owners’ ability to deduct several business expenses for this year’s small...
