Antares Group’s COVID-19 Webinar Series

Antares Group is hosting a series of webcasts designed to bring the latest information to you in this rapidly changing environment during the coronavirus outbreak. Below are links to the webinars we have hosted. We will add more as they become available. How Does ARPA Help Your Business? (March 23, 2021) Presented by: Frank McLaughlin, […]

PPP loan forgiveness FAQs released

The Small Business Administration released this week its first round of FAQs regarding the loan forgiveness process for Paycheck Protection Program Loans. These FAQs, which serve as guidance on the provisions of the CARES Act, follow closely to what we have been advising our clients already as we prepare their applications for PPP Loan forgiveness. […]

Take advantage of a “stepped-up basis” when you inherit property

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Fair market value rules Under the fair market value basis rules (also known as the “step-up and step-down” rules), an heir receives a basis in inherited property equal to its date-of-death value. So, […]

CARES Act changes retirement plan and charitable contribution rules

As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of a tax law passed on March 27. The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains a variety of relief, […]

CARES Act fixes legislative glitch to Qualified Improvement Property

A legislative glitch in the Tax Cuts and Jobs Act has been corrected through recent coronavirus relief measures. The Coronavirus Aid, Recovery and Economic Security (CARES) Act contains a technical correction to the portion of the TCJA passed in 2017 requiring Qualified Improvement Property (QIP) to be depreciated over 39 years, rendering property ineligible for […]

Are you withholding enough? Now is a good time to check

Due to the massive changes in the Tax Cuts and Jobs Act, the 2019 filing season resulted in a few surprises. Some filers who have gotten a refund in past years wound up owing money. The IRS reports that the number of refunds paid this year is down from last year — and the average […]

Higher mileage rate may mean larger tax deductions for business miles in 2019

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be able to claim a larger deduction for vehicle-related expense for 2019 than you can for 2018. Actual costs vs. mileage […]

The good and not-so-good news about qualified improvement property

If you made improvements to your commercial property last year or are planning to this coming year, there’s good news and not-so-good news. The good news is, some of the restrictions for taking the depreciation on those improvements have been eliminated under the 2017 Tax Cuts and Jobs Act. Prior to the new tax law, […]

Standard mileage rates to increase in 2019

The standard mileage rate for business travel is increasing in 2019 by more than 3 cents per mile. Beginning Jan. 1, 2019, the standard mileage rate for transportation or travel expenses is 58 cents per mile, up 3.5 cents from 2018 when it was 54.5 cents per mile. The Tax Cuts and Jobs Act suspended […]