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There’s currently a “stepped-up basis” if you inherit property — but will it last?
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.
Getting a new business off the ground: How start-up expenses are handled on your tax return
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched.
Important Changes to the Child Tax Credit for 2021
Recently, there were changes made to the child tax credit that will benefit many taxpayers.
Supreme Court Decides California v Texas Affordable Care Act Case- What it means to you
Last week, the Supreme Court decided yet another case in a long line of legal challenges to the Affordable Care Act (ACA/Obamacare). While the Court did not rule on t
Notice 2021-25: IRS issues new guidance on temporary 100-percent deduction for business-related food and beverage expense.
On April 8, 2021, the IRS issued Notice 2021-25 that provides guidance on the temporary 100-percent deduction for food or beverages provided by a restaurant that was e
IRS and PA Extend 2020 tax filing deadline to May 17, 2021
IRS and Pennsylvania have recently announced an extension to the 2020 Individual Income Tax Filing Deadline from April 15, 2021 to May 17, 2021. While this extends th
Biden Signs American Rescue Plan of 2021 (ARPA)
This week, President Biden signed into law the American Rescue Plan of 2021 (ARPA). This is the latest in a series of COVID-19 funding/stimulus legislation. At a 1.
SBA Issues new Paycheck Protection Program Rules (March 2021)
The Small Business Administration (SBA) recently issued its latest Interim Final Rule (IFR) to provide new guidance. Most of the new guidance is to carry out the Bide
IRS issues Notice 2021-20 providing new guidance on the Employer Retention Credit (ERC) (March 2021)
IRS recently issued Notice 2021-20 to provide much-needed additional guidance on the Employee Retention Credit (ERC) and has some insight into many of the questions re
Employer Retention Credit Expanded and Improved
January 25, 2021
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