Factors Impacting the Timing of PPP Forgiveness Application Forgiveness for Paycheck Protection Program (PPP) loans is a foremost topic … [Read more...]
Social Security Explained
November 11, 2020 by Jeff Rislov
Social Security Explained Check out the eight infographics below providing you with an overview of how Social Security benefits work. If you would like to … [Read more...]
IRS Launches New Form 1099-NEC
November 11, 2020 by Tonya Raths
IRS Launches New Form 1099-NEC For years, businesses used Form 1099-MISC to report calendar-year payments exceeding $600 to individuals who performed business … [Read more...]
Retirement Account Distributions
November 11, 2020 by Jeff Rislov
Retirement Account Distributions In an attempt to ease the financial burden placed upon taxpayers by the COVID-19 crisis, one of the parameters of the CARES … [Read more...]
New Tax Rules for 2020
November 11, 2020 by Jim Rudnick
New Tax Rules for 2020 Here are several new tax laws passed this year to consider as you start planning your 2020 tax obligation. Make up to $300 of … [Read more...]
Section 179 Conformity Helps Small Business and Agriculture
October 22, 2020 by Thomas Stoeckman
Minnesota's fifth special session passed a tax and bonding bill conforming to Federal rules relating to Section 179 expensing effective for tax year 2020 and … [Read more...]
HHS announces Phase 3 CARES Act Provider Relief Funding
October 12, 2020 by Annette Benson
On October 1, the U.S. Department of Health and Human Services (HHS) announced a third phase of general distribution funds for providers in which it will … [Read more...]
SBA Clarifies Deferral Period for PPP Loan Payments in FAQ
October 12, 2020 by Rick Conway
The new guidance, found in question No. 52 in the SBA’s frequently asked questions document for the PPP, clarifies that the deferral period extension … [Read more...]
SBA Releases a Streamlined Application for PPP Borrowers Under $50,000
October 12, 2020 by Annette Benson
A narrow class of PPP borrowers got some good news on Thursday, October 8. The SBA released a streamlined application — Form 3508S designed specifically for … [Read more...]
Cares Act Changes – Net Operating Loss Rules
September 17, 2020 by Jeff Rislov
NOL Rules Change for Tax Years 2018, 2019, and 2020 There have been two significant tax law changes related to net operating loss (NOL) rules included in the … [Read more...]
