For some employees, working from home is a personally liberating experience that contributes to greater productivity. For others, not so much. By now, if you have had a significant number of employees doing their jobs from home, you may have enough experience to assess whether remote working arrangements are a net plus for your business.… Continue reading
News & Updates
A Good Time for Making Tax-Smart Family Loans
During the COVID-19 crisis, you may want to loan money to a family member in need of financial assistance. However, before writing out a check, you should review the federal tax rules to ensure that you’re making a tax-smart loan. The good news is that now is generally an advantageous time to lend money to… Continue reading
COVID-19 Tax Relief: Roundup of Postponed Federal Tax Deadlines
As a COVID-19 relief measure, the IRS has postponed many of the usual federal tax filing and payment deadlines, along with the deadlines for taking certain other tax-related actions. Generally, deadlines for federal income tax return filing and payments that would otherwise fall on or after April 1 and before July 15 have been postponed to… Continue reading
Last-Minute Strategies for Businesses that Deferred Filing Tax Returns
Postponed Deadlines for Business Entities The IRS has postponed until July 15 deadlines for federal income tax. This includes payment obligations and filing obligations that would otherwise fall on or after April 1, 2020, and before July 15, 2020. The crisis-relief measures depend on how your business is structured: For calendar-year C corporations. The normal… Continue reading
Tax Tips for Individuals Who Haven’t Filed a Return for 2019
As part of the federal government’s tax relief measures during the COVID-19 pandemic, the IRS extended key deadlines for the 2019 tax year and for making 2020 estimated tax payments until July 15, 2020. If your 2019 personal return is still awaiting completion, you may have significant retroactive tax-planning flexibility. Postponed Deadlines for 2020 Estimated… Continue reading
How to Plan for a PPP Audit
The Small Business Administrator, Jovita Carranza, and U.S. Treasury Secretary, Steven Mnuchin, recently announced that recipients of Paycheck Protection Program (PPP) loans of $2 million or more should expect an audit if they apply for loan forgiveness. Here are some tips to position your small business or not-for-profit organization to receive the maximum allowable forgiveness, as… Continue reading
Is it Time to Reopen Your Business? 10 Questions to Ask Yourself
Businesses across America that have been shut down due to the novel coronavirus (COVID-19) pandemic may now (or soon) have the option to reopen. Since no two businesses are alike—even those in the same industry and location—what makes sense for one company could be a disaster for another. But many questions that business owners are asking… Continue reading
Plan for Employee Safety as Employees Return to Work
Chances are, employers don’t need the force of law to make them care about the health of their employees, especially during the novel coronavirus (COVID-19) pandemic. But it’s still important to know what the federal workplace safety agency—the Occupational Safety and Health Administration (OSHA)—has to say about employees returning to their jobs with a measure… Continue reading
Boosting the Productivity of Remote Workers
Even while conditions in some states have improved enough to allow some workers in exile to begin returning to their workplaces, life isn’t likely to return to normal for a long while, thanks to the novel coronavirus (COVID-19) crisis. First, some employees worried about the chances they could become infected might balk at the idea of… Continue reading
Prepare for a Post-COVID-19 Business Sea Change
Few businesses have been left unscathed by the novel coronavirus (COVID-19) pandemic. Unfortunately, many have been mortally wounded. Some may be living on life support thanks to financial help from the government, but their long-term survival is in doubt. That may not be inevitable, however, particularly for businesses that are proactive. Business advisors are instructing companies… Continue reading
