Author Archive

2021 Child Tax Credit and Economic Impact Payments

The IRS has begun issuing informational letters to qualifying taxpayers in January 2022. Click to learn more.

Main Street Small Business Tax Credit II

Main Street Small Business Tax Credit II The Main Street Small Business Tax Credit II will provide Covid-19 financial relief to qualified small business employers. On November 1, 2021, the California Department of Tax and Fee Administration will begin accepting applications for tentative small business hiring credit reservation amounts through our online reservation system. Qualified… [Read More]

Pass-Through Entity Tax

Pass-Through Entity Tax With the passing of Assembly Bill 150 on July 16, 2021, California has created an elective tax that certain pass-thru entities can pay on behalf of their owners. For tax years beginning on or after January 1, 2021 and before January 1, 2026, “qualified entities” can elect to pay an optional tax,… [Read More]

American Rescue Plan: Self-Employed Paid Family and Medical Leave

American Rescue Plan: Self-Employed Paid Family and Medical Leave The American Rescue Plan Act of 2021 extends and modifies COVID-19 self-employment tax credits for paid sick and family leave created under the Families First Coronavirus Response Act and amended by the Coronavirus Aid, Relief, and Economic Security Act. The credits are “equivalent” to those available… [Read More]

American Rescue Plan: Employee Retention Credit Extended

American Rescue Plan: Employee Retention Credit Extended The American Rescue Plan Act of 2021 modifies the employee retention credit first created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act then extended and expanded under the Consolidated Appropriations Act, 2021. This highly popular employment tax credit is designed to encourage businesses to keep workers… [Read More]

2021 Tax Update: Advance Child Tax Credit

2021 Tax Update: Advance Child Tax Credit There are important changes to the Child Tax Credit starting this summer. From July 15, 2021 through December 31, 2021, the IRS is paying half the total Child Tax Credit amount in advance monthly payments. You will claim the other half when you file your 2021 income tax… [Read More]

Reasons to Upgrade Your Business Technology

Reasons to Upgrade Your Business Technology How often are the specific technologies that your business uses to operate at the top of your mind during your day? Probably not very often. These systems assist in adding ease to you and your fellow coworker’s day-to-day job requirements. Without these technologies, especially in today’s tech-driven world, it’d… [Read More]

What Is An Employee Benefit Plan Audit and What to Expect?

What Is An Employee Benefit Plan Audit and What to Expect? Are you wondering if your company has to prepare for an employee benefit plan audit? If a company provides an employee benefit plan (EBP) to more than 100 eligible employees, the plan would be subject to an EBP audit required by the Department of… [Read More]

What is Enterprise Resource Planning (ERP)?

What is Enterprise Resource Planning (ERP)? Have you noticed the amount of time spent on day-to-day tasks has slowly increased? Are you opening one program and another and then another to take care of finances, sales, and other business needs?   When everyday business tasks start to become difficult it may mean it’s time to… [Read More]

Why Bring in a Business Consultant?

Businesses can end up with some tough decisions to make. Training, onboarding, hiring, firing, budget, and HR can combine into a difficult scenario for an employer. Running a company is no simple task, and there’s no shame in enlisting some outside help. When it comes to business decisions, a second opinion can be integral—and business… [Read More]