Earlier this week, President Biden see our past article here. In-process applications that were submitted prior to the exclusivity period will still be processed.   Revised loan calculation for sole proprietors, independent contractors, and self-employed…

New legislation passed on December 27, 2020 expanded the Employee Retention Credit that was originally introduced with The CARES Act in March of 2020. The new legislation has left employers with many questions about how…

It is not too early to start tax planning for the year to come. In addition to the planning changes in tax benefit phaseouts and other cost of living (COLA) adjustments, here are changes to…

On December 27, 2020 the Consolidated Appropriations Act 2021 was signed into law. One of the main elements of this legislation is $284 billion allocated for a revived Paycheck Protection Program (PPP) aimed to help small businesses as the…

President Trump has signed the Consolidated Appropriations Act, 2021 which includes $900 billion of funding. This new bill will provide more stimulus money to individuals, additional PPP loan money for small businesses, funding towards the…

Did you know that Medicare premiums are calculated based on the Modified Adjusted Gross Income (MAGI) of your prior year’s tax return? Did you know that you and your spouse pay the same for Medicare…

Tax Update for NJ Pass-Through Entities Act quickly to save tax dollars thanks to new legislation.   What is it? New Jersey recently enacted the Pass-Through Business Alternative Income Tax Act (NJ BAIT) in an…

New taxpayer relief initiative The IRS has made a number of changes designed to help struggling taxpayers impacted by COVID-19. These include an extension of the short-term payment plan option from 120 days to 180…