Employee Retention Credit Expanded for 2021

If your business was impacted by either a disaster or COVID-19, you may be eligible to receive the Employee Retention Credit (ERC).  It is a refundable credit against payroll taxes that was originally introduced in the CARES Act, expanded by the Consolidated Appropriations Act (CAA) signed into law on December 27, 2020, and broadened even […]

Do Nonprofits Ever Pay Taxes?

When you think about a nonprofit, the first thing that often comes to mind is that it is tax-exempt. Most nonprofits are not subject to federal, state, and local income tax. Does that mean nonprofits are completely free of ANY tax liability? The answer to this is likely no – there are still some taxes […]

Tax Filing Requirements for Closing a Business

You’re not alone if you have considered shuttering your business recently, The pandemic has placed a huge strain on businesses in certain industries, and many business owners who were just holding on before the crisis are having to face life-changing decisions. If you do decide to close your business, there are many considerations. Here are […]

How to Make Estimated Tax Payments

If you are paid a salary and receive a W-2 from your employer, part of your paycheck goes to Uncle Sam as federal withholding. These are payments toward your taxes. If you earn additional income beyond your salaried income, if you are under-withheld, or if you have your own business, you may need to make […]