Update on Coronavirus-related paid leave for workers and tax credits for small and midsize businesses The U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar,… Continue reading
News & Updates
Action Plan – COVID-19
Dear Clients and Friends, At SSB, we are hearing from business owners who are impacted by COVID-19—make no mistake—in the end, this is all of us. Following is a list of things to consider during these difficult times: Stay calm and don’t panic. Business leaders must remain composed, in control and make well thought out… Continue reading
COVID-19 Pandemic Poses Complex HR Policy Questions
Questions from employers and employees about coronavirus (COVID-19) pandemic are multiplying almost as fast as the virus itself. Employers need to rely on a combination of authoritative legal and medical advice, and their own common sense, to keep employees safe. Guidance issued almost daily from the Centers for Disease Control (CDC), the U.S. Department of Labor’s… Continue reading
Resources Available to Assist with COVID-19
Dear Clients and Friends, At SSB, we are monitoring the developments involving COVID-19 and are available to assist you during these trying times. As we learn more, we will update our list of resources which will be available at https://www.ssb-cpa.com/news/. Currently, Congress is working on the Families First Coronavirus Response Bill which would provide the… Continue reading
SSB’s Precautionary Measures Regarding COVID-19
Dear Clients and Friends, At SSB, our primary concern is the well-being of our employees and clients. As we monitor the developments involving COVID-19, we are taking measures to ensure that we reduce the risk of spreading the virus in our workplace while also making sure our communication with you continues in an efficient manner.… Continue reading
IRS Issues New Regs on Deducting Meal and Entertainment Expenses
The Tax Cuts and Jobs Act (TCJA) permanently eliminated deductions for most business-related entertainment expenses paid or incurred after 2017. For example, you can no longer deduct 50% of the cost of taking clients out for a round of golf. However, questions have lingered about whether certain expenses can still be deducted after the TCJA.… Continue reading
7 Valuable Tax Credits for Small Businesses
Many people are familiar with tax credits for individual taxpayers, such as the credits for higher education expenses or the child tax credit. But businesses and business owners also may be eligible for some valuable credits that can lower their tax bills. Here are seven credits for small business owners to consider this tax year and beyond. Research Credit Even… Continue reading
Ideas to Lower Your Taxes for 2019
Tax season is well under way. Have you filed (or extended) your individual federal tax return for 2019 yet? You may still have time to make some moves between now and the April 15 filing deadline to lower your 2019 tax bill. Here are some last-minute tax-saving options to consider. State and Local Income Taxes… Continue reading
Has the TCJA Lowered Your Taxes?
We now have two years of the Tax Cuts and Jobs Act (TCJA) changes under our belts: 2018 and 2019. Are your taxes lower than before the law went into effect? Not surprisingly, the answer depends on your specific situation. Perception vs. Reality After most people filed their 2018 tax returns, only 40% believed that they… Continue reading
Janice Jasinski Named President of Salem Area Chamber of Commerce
Janice T. Jasinski, CPA, CFE, CGMA, has been elected as president of the Salem Area Chamber of Commerce for 2020. Janice also serves on the YSU Penguin Club Board of Trustees and Finance Committee, as well as the Athena Committee of the Youngstown/Warren Regional Chamber. She is a member of the American Institute of Certified… Continue reading
