Commercial Businesses Articles
Posted by Thomas Burns on December 14, 2020
The Equal Opportunity Employment Commission is capping off a busy year of discrimination cases. With the Biden Administration making plans to take the reins in the White House, what can employers expect going forward?
Posted by Jonathan Roller on December 14, 2020
Manufacturers that adopted an effective pivot strategy or are recovering from a COVID-19-related slowdown may need to acquire additional equipment or machinery. Here's some important information to help you decide whether it makes more sense to buy or lease these assets — and why it could be a tax-smart move for some manufacturers to act before year end.
Posted by John George on December 07, 2020
Is 2020 over yet? For numerous small businesses, this year has brought significant hardship and stress. Though many are hopeful for a recovery in 2021, another round of cost-cutting measures may be needed to help keep your business afloat.
Posted by Megan Morris on December 04, 2020
The IRS released a revenue ruling (Revenue Ruling 2020-27) on November 18, 2020 that addresses the timing of eligible expense deductions for taxpayers that have received a loan under the Paycheck Protection Program (PPP) and that expect to receive loan forgiveness. In conjunction with the release of Revenue Ruling 2020-27, the IRS announced a safe harbor procedure (Revenue Procedure 2020-51) for eligible taxpayers that have paid or incurred otherwise eligible PPP expenses during 2020, but loan forgiveness is denied or the taxpayer decides not to request loan forgiveness.
Posted by Michē Needham on December 01, 2020
As 2020 draws to a close, we would like to remind you that this year-end may not be the same as 2019 when it comes to payroll taxes and compensation and benefits matters. This alert highlights various areas of change and what employers should be focusing on.
Posted by Kerry Roets on December 01, 2020
Congress has enacted three tax credits that can provide some relief to eligible employers at this difficult time. The credits were initiated by three separate pieces of federal legislation and it's easy to confuse one with another. The following is intended to provide some clarity.
Posted by Kevin Smeader on November 24, 2020
Many employers that were able to hold off on making substantial layoffs in the early stages of the COVID-19 pandemic are finding it harder to do so now, even as the economy begins to perk up here and there. If you're in that category and you think layoffs may still be in your company's near future, be mindful of the requirements of the federal WARN Act.
Posted by Jenna Torella on November 18, 2020
The CARES Act was enacted in March to provide financial relief to individuals and businesses during the COVID-19 pandemic. Several beneficial federal income tax provisions are set to expire at the end of 2020.
Posted by Michē Needham on November 16, 2020
A subcontractor's business acumen can directly affect a general contractor's ability to deliver a project on time and within budget. Unreliable subcontractors aren't always easy to spot, but a prequalification program can help you identify risks. This process should provide insight into subcontractors' current cash flows, backlogs, and bonding capacities.
Posted by Timothy Bubar on November 13, 2020
Most business owners know that the Families First Coronavirus Relief Act (FFCRA), which passed in March of 2020, included special paid leave requirements. Now, the rules that govern that paid leave have been modified to bring the original rules into compliance with a federal court decision earlier this year. The overall goal is to ensure that certain employees who are affected by the COVID-19 pandemic get the paid leave they need.