Do You Qualify for the Employee Retention Credit?

The Employee Retention Credit (ERC) incentivizes organizations to keep employees on the payroll during COVID-19, and with new rules, it’s possible to claim as much as $14,000 per employee in 2021.

2021-02-26T16:09:24-05:00February 25, 2021|Categories: Not-for-Profit, PBMares COVID-19 Insights, Tax: Business|Tags: , , |

Overview of Final Regulations for 1031 Exchanges

Since the Tax Cuts and Jobs Act, the treatment of 1031 exchanges has been more complex, nuanced, and limited according to varying definitions of real property. Now with final regulations, real estate investors can make more informed decisions about which properties qualify.

2021-02-02T13:05:06-05:00February 2, 2021|Categories: Construction and Real Estate, Tax: Business|Tags: , , |

EIDL Grants No Longer Reduce PPP Forgiveness

The Economic Aid Act, which became law on December 27, 2020, made PPP loans fully forgivable regardless of EIDL grants received. Now, the SBA has issued guidance and new forgiveness forms removing the need for an EIDL reduction.

PPP Round 2 – What You Need to Know

The Economic Aid Act, included in the 2021 Appropriations Act expanded the Paycheck Protection Program (“PPP”) to include second draw loans for hard-hit small businesses. Here's what you need to know to take advantage of this program.

2021-01-08T12:59:17-05:00January 8, 2021|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , |

Home Office Deduction Primer

With the tax filing season just around the corner, I repeatedly hear the question, “can I deduct my home office?” The answer varies as the IRS has a more restrictive definition of the home office than those heard in ordinary conversation.

2021-01-07T11:12:18-05:00January 7, 2021|Categories: Accounting, PBMares COVID-19 Insights, Tax: Business, Tax: Individual|Tags: , |

Coronavirus Response and Relief – What it Means for You

On December 21, 2020, Congress unveiled agreement on a $900 billion coronavirus relief deal. The bill has several business and individual provisions included – but what do they mean for you?

2020-12-22T15:58:27-05:00December 22, 2020|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: |
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