by Megan Kosciolek, MST | Oct 7, 2021 | Business
For many small businesses, the grand reopening is still on hold. The rapid spread of the Delta variant of COVID-19 has mired a variety of companies in diminished revenue and serious staffing shortages. In response, the Small Business Administration (SBA) has retooled...
by Megan Kosciolek, MST | Sep 17, 2021 | Tax
The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to consider. 1. Claim bonus depreciation or a Section 179 deduction for asset additions Under current...
by Megan Kosciolek, MST | Aug 16, 2021 | Business
The National Restaurant Association and the American Institute of Certified Public Accountants (AICPA) has come out with several recommendations for tracking the spending of the funds received from the Restaurant Revitalization Fund (RRF) Grant. The RRF grant is not...
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 Background Back in March of 2020, Congress originally enacted the ERTC in...
