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Keep Your Labor Rate Compliant and Competitive!

The standard calculation of a proposed hourly rate for an exempt salary employee encompasses dividing the individual’s salary by the standard 2,080 work hours per year. However, there is a way you can make your hourly rate more competitive and FAR compliant at the same time.

2022-01-11T14:26:09-05:00January 11, 2022|Categories: Government Contracting|Tags: |

Watch for New Letters from the IRS — and Keep Them!

The IRS is sending taxpayers new letters about the 2021 Economic Impact Payments and Advanced Child Tax Credit payments. The letters contain information necessary for calculating your tax refund correctly.

2022-01-12T14:47:03-05:00January 5, 2022|Categories: Tax: Individual|Tags: , |

Excess Real Estate Losses Could be Permanently Eliminated in Build Back Better Act

The Build Back Better Act contains a lesser-known tax proposal to permanently eliminate certain excess business losses. Especially for rental real estate owners, the effect is potentially substantial.

2022-01-10T09:27:57-05:00January 4, 2022|Categories: Construction and Real Estate|Tags: , |

Did You Miss Out on the Employee Retention Tax Credits?

Many employers do not realize they could benefit from the ERC.  As businesses close their books and records for 2021 and begin to work on tax compliance, it is a good opportunity to revisit the ERC to clear up any confusion that may exist.

2021-12-21T10:12:46-05:00December 21, 2021|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , , |

Updated IRS Guidance on Meals and Entertainment Expense Deduction

In 2021 and 2022, a temporary change to the tax code allows companies to deduct 100 percent of most business meal and entertainment expenses. Guidance on per diem deductibility has also been clarified.

2022-01-10T09:28:30-05:00December 20, 2021|Categories: Tax: Business|Tags: , |

New Schedule A for Form 990T

The IRS has overhauled the 2020 Form 990T “Exempt Organization Business Income Tax Return” and created a new Schedule A “Unrelated Business Taxable Income From an Unrelated Trade or Business” to allow reporting of separate unrelated business activities.

2021-12-15T12:47:16-05:00December 15, 2021|Categories: Not-for-Profit|Tags: , , |

The Impact of November 2021’s Elections on Nonprofits

Election years can create uncertainty for nonprofits, even off-years and midterm elections. This article explores factors that are impacting nonprofits and what they can do to stay ahead of changing legislative priorities.

2021-12-15T12:41:24-05:00December 15, 2021|Categories: Not-for-Profit|Tags: |

Federal Contractors on the Hook for Cybersecurity Readiness

In another demonstration of the federal government’s commitment to cybersecurity, the DOJ released details of its Civil Cyber-Fraud Initiative. Here’s how contractors can comply.

2021-12-07T11:02:21-05:00December 7, 2021|Categories: Cybersecurity, Government Contracting|Tags: , |

IRS Releases Guidance on Q4 Removal of Employee Retention Credit

Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.

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