Tax

tax deadline

Tax Calendar: Key Deadlines for Businesses and Other Employers in Q4 2021

October 4, 2021

Here are some of the key tax-related deadlines impacting businesses and other employers during the fourth quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Monday, November 1 Report income tax withholding and FICA taxes for the third quarter of 2021 (Form 941)…

Read More
Tax Depreciation Rules

What You Need to Know About Tax Depreciation Rules for Business Automobiles

September 23, 2021

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and there are special limitations that apply to vehicles classified as passenger autos (which include many pickups and SUVs) that can result in it taking longer than expected to fully depreciate a…

Read More
PPP

It’s National Small Business Week! Here Are 3 Tax Breaks To Consider

September 15, 2021

The Small Business Administration declared September 13-17 as National Small Business Week. To commemorate the week, here are three tax breaks to consider for your business. 1. Claim bonus depreciation or a Section 179 deduction for asset additions Under current law, 100% first-year bonus depreciation is available for qualified new and used property that’s acquired…

Read More
tax related actions

Tax Relief for Ida Victims in New York and New Jersey

September 13, 2021

The IRS is giving victims of Hurricane Ida in parts of New York and New Jersey until January 3, 2022, to file various individual and business tax returns and make tax payments. Victims located in areas designated by the Federal Emergency Management Agency as qualifying for individual or public assistance can take advantage of the…

Read More
self-employed ppp

IRS Allows More Time To Use Digital Signatures on Some Tax Forms

September 7, 2021

The IRS is extending the capability to digitally sign tax forms through the end of the year. Taxpayers can use electronic or digital signatures on certain paper forms they cannot file electronically. Acceptable electronic signature methods include: A typed name typed on a signature block A scanned or digitized image of a handwritten signature that’s…

Read More
IRS tax guidance

Interest Rates for Q4 2021

August 26, 2021

The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning October 1, 2021. The rates will be: 3% for overpayments (2% in the case of a corporation), 5% for the portion of a corporate overpayment exceeding $10,000, 3% for underpayments and 5% for large corporate underpayments. For taxpayers…

Read More