January 13, 2021 Did you mail a paper return to the IRS? Here is an update from the IRS website. The IRS is now opening mail within normal timeframes. The IRS has also made significant progress in processing returns. As of December 25, 2020, they had 6.9 million individual tax returns in the processing pipeline. […]
Deferring Social Security Taxes
Employers can withhold, make payments of deferred Social Security taxes from 2020 The Internal Revenue Service today released Notice 2021-11 addressing how employers who elected to defer certain employees’ taxes can withhold and pay the deferred taxes throughout 2021 instead of just the first four months of the year. In response to a presidential memorandum […]
Divvy – Best Spend and Expense Management Platform
One of the ways our firm provides the best service to clients is through partnerships with other providers. Today, I want to introduce you to Divvy, our financial technology partner. Divvy is a spend and expense management platform for business. That means you get financial software fused with smart corporate credit cards, bill pay functionality, […]
More PPP Loan Funds Available For Small Businesses
There is additional money available from the Small Business Administration (SBA) for a new round of Paycheck Protection Program (PPP) loans courtesy of the Emergency Coronavirus Relief Act of 2020. Here’s what you need to know: Requirements to Take Out a 2nd PPP Loan If you received PPP loan proceeds in 2020, and wish to […]
A Survival Guide to Bookkeeping
When you launch a new business, you vaguely hear you’re supposed to track your income and expenses for taxes… and that’s about it. Nobody talks about the logistics of HOW you’re supposed to do it, and newbies are left to fend for themselves in this new financial wilderness. That stops now. Think of this as […]