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.

2022-02-08T12:33:50-05:00January 5, 2022|Categories: Tax: Individual|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.

2022-07-19T15:25:10-04:00December 21, 2021|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , , , |

North Carolina Budget Allows PPP Deductions, Reduces Tax Rates, Establishes SALT Workaround

The long-awaited 2021-2023 biennial North Carolina budget was passed by the General Assembly and signed by Governor Roy Cooper on November 18, 2021. Media outlets have focused on high-profile provisions, such as raises for teachers and other state employees. Other provisions - including historic tax cuts - immediately impact all North Carolina taxpayers.

2021-11-19T15:56:28-05:00November 19, 2021|Categories: Tax: Business, Tax: Individual|Tags: , , |

Recovery Startup Provision: How New Startup Businesses Can Possibly Claim the ERTC

Businesses that started during the pandemic have a new opportunity to claim the Employee Retention Tax Credit for the 3rd and 4th quarters in 2021. There are minimal eligibility requirements to net up to $100,000 in tax credits for the year. Act now to include the credit on your 2021 3rd quarter payroll tax return.

2021-11-19T15:57:22-05:00September 22, 2021|Categories: Small Business, Tax: Business|Tags: , , |

Webinar Recording: PPP Loan Recipients Eligible for ERC

View recording and slides. Eligible employers can take advantage of the newly extended employee retention credit, designed to make it easier for businesses that choose to keep their employees on the payroll despite challenges from COVID-19.

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