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Shuttered Venue Operators Grant

Shuttered Venue Operators Grant Program Opens April 8

April 8, 2021

Eligible venues impacted by the COVID-19 pandemic have a new option to receive financial help starting today. The Shuttered Venue Operators Grant (SVOG) program, part of the American Rescue Plan, will distribute over $16 billion in grants to businesses or non-profits connected to live performance. The US Small Business Administration (SBA) will begin accepting applications…

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PPP

How Employers Can Claim the Employee Retention Credit for 2021

April 5, 2021

There is new guidance from the IRS for employers claiming the Employee Retention Credit for the first and second quarters of 2021. Notice 2021-23 states that eligible employers can claim a refundable Employee Retention Credit against the employer share of Social Security tax equal to 70% of the qualified wages they pay to employees after…

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employer tax credit

Tax Refunds for Unemployment Income Start in May

April 1, 2021

Beginning in May, the IRS will automatically refund eligible taxpayers who filed their tax return and reported unemployment income before the recent changes made by the American Rescue Plan. Taxpayers are eligible to exempt $10,200 ($24,400 for joint filers) in unemployment income from federal income taxes in 2020 if they earned less than $150,000 in…

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deadline extended

Additional Tax Deadlines for Individuals Are Extended to May 17

March 30, 2021

The IRS is extending additional tax deadlines for individuals from April 15 to May 17. The following deadlines are extended: IRAs and Roth IRAs Making contributions to IRAs and Roth IRAs, the time for reporting and paying the 10% additional tax on 2020 distributions from IRAs or workplace-based retirement plans. The deadline for filing Form…

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Personal Protection Equipment

Personal Protection Equipment Is Now Tax Deductible

March 29, 2021

The IRS announced that the purchase of personal protective equipment (PPE) such as masks, hand sanitizer and sanitizing wipes for the primary purpose of preventing the spread of COVID-19 are deductible medical expenses. The PPE covered involve purchases made since January 1, 2020. An individual taxpayer that purchases COVID-19 PPE for use by the taxpayer,…

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cyberattacks

How to Prevent and Detect Insider Cyberattacks at Your Business

March 24, 2021

In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization, then used stolen customer lists to start his own mortgage business. The perpetrator hacked the protected records by sending an email containing malware to a coworker. This particular dishonest worker was caught, but your company may not be so lucky.…

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