The Consolidated Appropriations Act (CAA), 2021, signed into law on December 27, 2020, extended the employer tax credits available to employers who voluntarily pay eligible employees sick leave and/or expanded family and medical leave through March 31, 2021. Learn more about the extension in this article.
The State of Michigan announced a new grant program for small businesses who are experiencing ongoing loss from COVID-19 and the Gatherings and Mask Order. Learn more about the Program in this article.
Congress has passed new stimulus relief legislation which contains multiple provisions to help taxpayers, including individuals and businesses. The President signed this legislation yesterday after almost a week of uncertainty about whether he would or would not sign it. After review and analysis of the new legislation, this article highlights what we believe will be of most interest.
The Michigan Strategic Fund has approved a $10 million grant program to assist small businesses who have been adversely affected by the Coronavirus pandemic.
Every business owner is aware of the threat posed by cybercriminals. If a hacker were to gain access to the sensitive data about your business, customers or employees, the damage to your reputation and profitability could be severe.
The subject of payroll has been top-of-mind for business owners this year. The COVID-19 pandemic triggered economic changes that caused considerable fluctuations in the size of many companies’ workforces. Employees have been laid off, furloughed and, in some cases, rehired. There has also been crisis relief for eligible businesses in the form of the Paycheck Protection Program and the payroll tax credit.
The Financial Accounting Standards Board (FASB) recently issued Accounting Standards
Update (ASU) No. 2020-07: Presentation and Disclosures by Not-For-Profit Entities for
Contributed Nonfinancial Assets. This article provides a summary of the ASU.
The U.S. Small Business Administration, in conjunction with the U.S. Treasury Department, recently announced a simpler, more streamlined application (Form 3508S) for the forgiveness of Paycheck Protection Program (PPP) loans of $50,000 or less.
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations.
While you probably don’t have any problems paying your tax bills, you may wonder: What happens in the event you (or someone you know) can’t pay taxes on time? Here’s a look at the options.
