State laws differ in treatment of PPP loan expenses

Business owners sighed with relief when Congress approved the Consolidated Appropriations Act of 2021 allowing for PPP loan expenses to be deducted on federal taxes. It’s important to remember, though, that states pass their own tax laws – some of which may or may not conform to the federal tax laws. For instance, South Carolina […]

10 year-end tax strategies to take advantage of now

In just a few months, 2020 will come to a close. There is still time, though, for strategic tax planning before the end of the year. The following are the top 10 tax strategies you can take advantage of now. Qualified Improvement Property – Review your 2018 and 2019 reinvestments to see if additional depreciation […]

What individuals need to know about the new CARES Act

The third coronavirus relief package – the Coronavirus Aid, Relief and Economic Security Act (CARES Act) – has been passed by Congress and signed by President Trump. The CARES Act contains provisions designed to help both businesses and individuals. Click here to read about the provisions affecting businesses. Below is a look at those provisions […]