by Brian Hare, CPA, CGMA | Apr 13, 2020 | COVID-19
Before the TCJA, capitalized expenditures for qualified improvement property—i.e., certain improvements to the interior of a non-residential building that occurred after the building was placed in service—generally had a 39-year recovery period, except that three...
by Brian Hare, CPA, CGMA | Apr 13, 2020 | COVID-19
The corporate alternative minimum tax (AMT) was repealed as part of the Tax Cuts and Jobs Act (TCJA), but corporate AMT credits are allowed as refundable credits until 2021. The CARES Act accelerates the ability for companies to recover those AMT credits. Contact us...
by Brian Hare, CPA, CGMA | Apr 11, 2020 | COVID-19
Employers are eligible for business tax provisions like the payroll tax credit under the CARES Act. This includes a 50 percent refundable payroll tax credit on qualified wages [up to $10,000] with respect to each employee during the crisis. The credit is available to...
by Brian Hare, CPA, CGMA | Apr 11, 2020 | COVID-19
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides roughly $2 trillion of much-needed financial relief, including tax relief, to individuals and businesses. This relief is in response to the coronavirus (COVID-19) pandemic. One CARES Act provision...
by Paula Kennedy, EA | Feb 24, 2020 | Tax
Can the child tax credit help you? If you’re a parent, or if you’re planning on having children, you know that it’s expensive to pay for their food, clothes, activities and education. Fortunately, there’s a tax credit available for taxpayers with children under the...
