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Business Accounting


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How to Avoid Personal Liability for Unpaid Federal Employee Payroll Taxes
How to Avoid Personal Liability for Unpaid Federal Employee Payroll Taxes Lessons from an Employee Payroll Tax Withholding (CFO Embezzlement) Case - IRS held the president personally liable for the unpaid taxes. Read More

New IRS Notice 2021-25: Some Business Meal Expenses are 100% Tax Deductible for 2021 and 2022
New IRS Notice 2021-25: Some Business Meal Expenses are 100% Tax Deductible for 2021 and 2022 A 2020 COVID-19 relief bill made taxpayer-friendly changes. The “Taxpayer Certainty and Disaster Tax Relief Act of 2020” (the Act), enacted as part of the “Consolidated Appropriations Act, 2021” (CAA 2021), which increased the business-meal deducti... Read More

PPP Loans Round 2: Requirements, Eligibilty, Application Process for Small Businesses
PPP Loans Round 2: Requirements, Eligibilty, Application Process for Small Businesses Congress passed a 2nd COVID economic stimulus package, which is another round of PPP loans for businesses. The $284 Billion of PPP round 2 loans come with some changes to loan forgiveness, eligibility requirements and limits on loan amounts. Here is... Read More

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2020 Taxes | 2021 Taxes | Business Payroll | Economic Aid Act | home office deduction | IRA | Paycheck Protection Program | PPP Loans | retirement | Taxes | Wealth Management | work from home |