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How Each President Affected US Taxes, In Their Own Words

  • Who were the most influential presidents in US history to affect our modern-day tax law?

“It is essential … that towards the payment of debts there must be revenue; that to have revenue there must be taxes; that no taxes Continue reading

 

What Partnerships Need to Know About the New K-1 Reporting Method

  • The IRS released new instructions for capital reporting on partnership K-1s
  • You don’t need to worry: DSJCPA is prepared for change

In October 2020, the IRS released draft guidance regarding Form 1065 (US Return of Partnership Income). These new instructionsContinue reading

 

Top 12 Tax Implications of Biden’s ARP

  • President Biden’s American Rescue Plan (ARP): a $1.9 trillion stimulus package to address economic public health impacts of the pandemic
  • ARP will bring about several edits to the Internal Revenue Code, and interesting tax implications for American taxpayers

 1.Continue reading

 

Employee Retention Tax Credit: Then Vs. Now

So you think you know the ERC? The Employee Retention Tax Credit (ERC) was recently extended and revamped by the Consolidated Appropriations Act (CAA), including major changes and some key provisions extended through to mid-2021.

Do your business’ wages Continue reading

 

CAA Section 206 is a Time-Warped Headache for Retroactive Employee Retention Credits

The Employee Retention Tax Credit (ERC) was recently clarified and extended by Sections 206 & 207 of the Consolidated Appropriations Act (CAA). Whereas Section 207 extended provisions for the ERC into the first two quarters of 2021, Section 206 amended … Continue reading

 

Employee Retention Tax Credit Eligibility: A Step-By-Step Guide

  • Does your small business qualify for the ERC?
  • If so, what wages qualify for the credit?

The Employee Retention Tax Credit (ERC) is a small business’ next tool for COVID-19 survival. The Consolidated Appropriations Act extended ERC provisions through the … Continue reading

 

ERC & PPP: How To Choose When You Can’t Double Dip

  • Wages that qualified for PPP loan forgiveness are ineligible for the ERC
  • A little-known new loophole to maximize benefits from both

The Consolidated Appropriations Act (CAA) passed in December confirmed new provisions on the Employee Retention Tax Credit (ERC)—a much … Continue reading

 

Get The Scoop On Biden’s Tax Plan, Long Islanders

  • Which of Biden’s economic reforms will have the biggest impact on Long Islanders?
  • What you need to know and what you need to do

Biden has only been in the oval office for one week, but his plans to overhaul … Continue reading

 

CAA’s Extension of Employee Retention: Does Your Business Qualify?

  • Several overhauls from CARES Act—what are they and how can you benefit from them?
  • Continued provisions—important factors still in play
  • Does your business qualify? Find out below.

The passing of the Consolidated Appropriations Act (“CAA”) in December of 2020 has … Continue reading

 

2020 Filing Season Has Been Delayed: How to Get a Head Start

  • Filing for the 2020 tax season will not open until February 12
  • How will this affect refunds?
  • What can taxpayers do to get a head start over this hurdle?

As if last year’s never-ending tax season wasn’t enough… the IRS … Continue reading