In this on-demand video, Erica Horn, Maddie Schueler, and John Wurtenberger provide an overview of changes made by the year-end Consolidated Appropriations Act, 2021. The Act made significant modifications to the Paycheck Protection Program (PPP), and the Employee Retention Credit (ERC).
Jen Shah, Dean Dorton Tax Director and Equine Industry Lead, gives a preview of key provisions included in the 2021 Congressional Appropriations Act which may impact horse and farm owners.
Kentucky's Angel Investment Act applications will open on Monday, January 4, 2021 at 9 a.m. EST in Frankfort, KY. The Act authorizes a tax credit program through which qualified investors can receive an individual income tax credit of 25-40% of their investment depending on the county of the investment.
In the state of Kentucky, the deadline for property owners to apply for a homestead exemption is December 31. Do you have all the information you need to file your application?
Tax planning for 2020 is considerably more complicated for many individuals and businesses. A discussion of all the “what ifs” is beyond the scope of this article, so our planning ideas that follow focus on reducing 2020 taxes.
This article reviews some thresholds and limits for 2021, such as the standard deduction, Social Security benefits, adjustments for retirement accounts, gift taxes, and more.
Below, we have created a visual representation of the 2020 federal income tax brackets for both single and married taxpayers. Although our graph stops at $700,000 of taxable income, the top bracket continues up indefinitely.
Two payroll tax credits established earlier this year, the Paid Sick and Family Leave Tax Credits and the Employee Retention Credit, are set to expire on December 31, 2020.
Nearly two years ago, we published an article on the proliferation of dollar and other thresholds set by states that, if exceeded, would result in a business having to collect the states’ sales tax. Before a state can exercise its taxing authority over a business, the business must have “nexus” with the state. This article provides an update on where the states stand on nexus for income taxes.
The CARES Act has increased the deduction limit on cash charitable donations from 60% to 100% of adjusted gross income.