The IRS recently issued guidance that will impact taxable income and tax liabilities for the majority of businesses who received PPP loans.
Join PBMares from 1 pm – 2 pm on Tuesday, December 15 for “Top 10 Year End Tax Planning Strategies”.
NEW FORM 1099-NEC: The PATH Act accelerated the due date for filing Form 1099 that included nonemployee compensation (NEC) to January 31, and Treasury Regulations eliminated the automatic 30-day extension of time to file for forms that included NEC.
A new but perhaps little-known law in the State of Virginia requires that all employers, labor organizations, and hiring halls report information about newly hired independent contractors to the state’s New Hire Center.
Borrowers (and affiliates) that have PPP Loans of $2 million or greater should be prepared to provide additional information to SBA. (authored by RSM US LLP)
Few contractors give much thought to state sales tax when they’re installing property improvements for a customer.
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
Final Guidance on Business Interest Expense Deduction Limitation Under Section 163(j) in the CARES Act
Many U.S. companies took advantage of the Paycheck Protection Program, Economic Injury Disaster Assistance Loans, and other funding sources to shore up cash flow amid the coronavirus pandemic.
Exposure to state tax has been steadily increasing in recent months. From the Wayfair Supreme Court case in 2018 to mounting financial pressures from COVID-19, states are looking at all options to collect revenue they are entitled to.
What does it mean to be a real estate professional? For many, the answer is straightforward: they’re landlords, property developers, contractors, and investors.