For most of us, the last 12 months have been a rollercoaster, a fast-track MBA in change management and and definitely an era with a steep learning curve, particularly in terms of technology tools. When the COVID-19 pandemic began in early 2020, I started bringing different communities within industries together, with
The Internal Revenue Service is clarifying its guidance on provisions of the coronavirus relief legislation that provide tax credits to employers offering paid sick leave and family leave to workers. The IRS updated the frequently asked questions page about the tax credits on Thursday. The tax credits were part of
As a fresh round of federal relief loans is getting distributed to U.S. small firms hit by a pandemic crisis that will soon stretch to a year, new research shows that last year’s tranches of the Paycheck Protection Program covered less than a month of business expenses. PPP loans provided
Senators and House members introduced legislation to help taxpayers survive the pandemic, with tax credits for developers revitalizing homes in “distressed” neighborhoods and enabling small businesses to pay essential expenses. Sen. Rob Portman, R-Ohio, and Ben Cardin, D-Maryland, who are both members of the Senate Finance Committee, introduced a bipartisan
In three previous columns, I discussed often-overlooked IRS tax breaks available in 2021 for freelancers, consultants and other self-employed individuals who pay their sons and daughters reasonable wages for work actually done by the children on behalf of their businesses. One discussed dealing with retirement benefits like Social Security taxes.
To succeed in today’s disrupted business environment, finance teams need to consider all of their untapped sources of value. Thriving in highly changeable market conditions means finding new ways of operating. When uncertainty reigns, flexibility and responsiveness are vital. That makes maximizing working capital a top priority. Businesses need to
Do you agree to everything asked of you because saying “no” feels uncomfortable? As you spread yourself too thin or agree to work outside of scope, you experience burnout, resentment or cynical thoughts. It’s not sustainable, especially during tax season. Consider the client who calls you in a panic to prepare
Two previous columns discussed often-overlooked tax breaks available in 2021 for freelancers, consultants and other self-employed individuals who pay their sons and daughters reasonable wages for work actually done by the children on behalf of their businesses. You can read about TCJA tax benefits and more. Adding children to payrolls
The Internal Revenue Service has created the position of chief taxpayer experience officer to boost efforts across the agency to better serve taxpayers. Ken Corbin, currently the IRS Wage and Investment commissioner, will take on the role while also continuing to serve in his position overseeing the agency’s largest operating
Deloitte and its Deloitte Foundation announced that a student team representing Truman State University won its 2021 Deloitte FanTAXtic national case study competition, giving the best presentation of an analysis of a complex tax case. The finals were held virtually this year on Jan. 15, 2021. The nine participating teams
