by Megan Kosciolek, MST | Aug 11, 2021 | Tax
If your business receives large cash transactions or cash equivalents, you may be required to report these to the IRS. What are the requirements? Each person who, in the course of operating a trade or business, receives more than $10,000 in cash in one transaction (or...
by Megan Kosciolek, MST | Jun 28, 2021 | Tax
The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules. Background Back in March of 2020, Congress originally enacted the ERTC in...
by Megan Kosciolek, MST | Jun 15, 2021 | Tax
If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage of tax benefits to minimize your expenses. Here are some possible options for college...
by Megan Kosciolek, MST | Apr 14, 2021 | Business
The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an “Exchange”). A provision of the Affordable Care Act (ACA) created the credit. The American...
by Megan Kosciolek, MST | Mar 31, 2021 | Business
The American Rescue Plan Act (ARPA), signed into law in early March, aims at offering widespread financial relief to individuals and employers adversely affected by the COVID-19 pandemic. The law specifically targets small businesses in many of its provisions. If you...
