By: Maddie Schueler, JD, LLM | mschueler@deandorton.com Two payroll tax credits established earlier this year are set to expire at the end of 2020. On March 18, the Families First Coronavirus Response Act (FFCRA) created refundable payroll tax https://deandorton.com/two-covid-19-payroll-tax-credits-set-to-expire-at-years-end/
Results for: "Reliable CLF-C02 Exam Braindumps 🥘 CLF-C02 Updated Test Cram 🥱 CLF-C02 New Exam Bootcamp 🦦 Open [ www.pdfvce.com ] and search for ☀ CLF-C02 ️☀️ to download exam materials for free 👨CLF-C02 Valid Exam Syllabus"
2020 year-end tax planning
By: Matt Smith, CPA | msmith@deandorton.com Tax planning for 2020 is considerably more complicated for many taxpayers due to the following major factors: The impact on business profits or compensation income of the COVID-19 pandemic, including https://deandorton.com/2020-year-end-tax-planning/
Updated thresholds and limits for 2020
Standard deduction For 2020, the standard deduction is $12,400 for single filers (up from $12,200 in 2019) and $24,800 for married taxpayers filing jointly (up from $24,400 in 2019). FICA base Annual compensation to which Social Security tax applies https://deandorton.com/updated-thresholds-and-limits-for-2020/
Updated Tax Thresholds and Limits for 2022
FICA base – Annual compensation to which Social Security tax applies is $147,000 for 2022 (up from $142,800 in 2021). Social Security benefits – Individuals who are drawing Social Security benefits prior to attaining full retirement age will begin https://deandorton.com/updated-tax-thresholds-and-limits-for-2022/
A last-minute expansion of the Paycheck Protection Program (PPP) via the American Rescue Plan
With less than three weeks left to apply for a Paycheck Protection Program (PPP) loan, the American Rescue Plan (Rescue Plan) expands eligibility for first and second draw loans. The expansion includes internet publishing organizations assigned an https://deandorton.com/expansion-of-the-paycheck-protection-program-ppp/
Cost Segregation Study: Valuable tax savings embedded in buildings
A cost segregation study is an analysis performed by trained professionals to identify property that should be classified as tangible personal property or land improvements, rather than real property that is depreciated over 27.5 or 39 years. This https://deandorton.com/cost-segregation-study-valuable-tax-savings-embedded-in-buildings/
Budgeting for Collaborative Technology in 2021
The budgeting process is an important time to carefully analyze the value new technology solutions can provide while balancing long and short-term cost mitigation with bottom line opportunity costs. The advantages far outweigh the risk or pain of https://deandorton.com/budgeting-for-collaborative-technology-in-2021/
Leased Property Rules
There are specific rules related to leased property outlined in the new tangible asset regulations, specifically related to unit of property. As a reminder, the unit of property is the cornerstone by which taxpayers now will determine whether an https://deandorton.com/leased-property-rules/
Tangible Asset Regulations: Building Systems
Question: If you renovate a building used in your business this year, then is the expenditure a capitalized improvement or an expensed repair? Answer: It is important to understand how the “unit of property” concept has changed regarding buildings. https://deandorton.com/tars-building-systems/
2016 Kentucky Small Business Tax Credit: Apply by Nov. 1 to Secure 2016 Credit
Kentucky small businesses that added employees and equipment or technology in the past 24 months may qualify for a tax credit of up to $25,000 on their 2016 tax return through the Kentucky Small Business Tax Credit program. The program is available https://deandorton.com/2016-kentucky-small-business-tax-credit-apply-by-nov-1-to-secure-2016-credit/