More flexibility offered for employee FSA plans
Employees with flexible spending arrangements, or FSA, for health care or dependent care expenses now have a more flexibility to use these benefits. As you know, employers can offer employees FSAs to use throughout a plan year either for medical expenses or for dependent care expenses. Most FSAs contain a “use it or lose it” […]
How does the American Rescue Plan impact individual taxpayers?
The latest Covid-relief bill – the $1.9 trillion American Rescue Plan Act of 2021 (ARPA) – was signed into law by President Biden, and it provides several provisions specifically beneficial to restaurant owners and to small business owners and individuals in general. Much of the ARPA extends and expands on the provisions from earlier Covid-relief […]
How does the American Rescue Plan Act impact employers?
The latest Covid-relief bill – the $1.9 trillion American Rescue Plan Act of 2021 (ARPA) – was signed into law by President Biden, and it provides several provisions specifically beneficial to restaurant owners and to small business owners and individuals in general. Much of the ARPA extends and expands on the provisions from earlier Covid-relief […]
How does the American Rescue Plan help restaurant owners?
The latest Covid-relief bill – the $1.9 trillion American Rescue Plan Act of 2021 (ARPA) – was signed into law by President Biden, and it provides several provisions specifically beneficial to restaurant owners and to small business owners and individuals in general. Much of the ARPA extends and expands on the provisions from earlier Covid-relief […]
Work Opportunity Tax Credit extended through 2025
Are you a business owner thinking about hiring? There is good news in that a recent law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a tax credit known as the Work Opportunity Tax Credit (WOTC) that’s worth as much as $2,400 for each eligible employee ($4,800, […]
Should your business add Roth contributions to its 401(k)?
Offering employees a retirement plan is a great incentive for retaining employees and for recruiting new ones. If you don’t already offer a plan for your employees, an available tax credit may make it something worth considering. If your business does sponsor a 401(k) plan, you might someday consider adding designated Roth contributions. Here are […]
Annual registration for Ga. businesses due April 1
Each business entity registered to do business in Georgia will need to file its annual registration in order to remain in good standing with the state. Registration is open from January 1 to April 1 each year. Filing the annual registration provides a current record or an entity’s management structure, correct mailing address, and registered agent’s name […]
Tax relief offered to victims of Texas winter storms
Texas victims of winter storms that began February 11, 2021, now have until June 15, 2021, to file various individual and business tax returns and make tax payments, the IRS announced in a News Release and on its webpage. Individuals and households affected by severe winter storms that reside or have a business in all 254 […]
Educators can deduct expenses related to Covid-19 prevention
Classrooms have never looked more different than they have this past year. The Covid era has pushed many classrooms online, and those that are still open to students are outfitted with extra hand sanitizer, masks, physical barriers and more. Eligible educators can now deduct unreimbursed expenses for Covid-19 protective items to help stop the spread […]
Stay on top of collecting W-9s from vendors
Collecting W-9 forms may not be top of mind when you hire a new vendor, but getting those as soon as possible is the best way to make sure you don’t get stuck tracking them down at the end of the year as the tax deadline nears. As you know, business owners must issue Forms […]