An important COVID-related economic measure enacted in 2020 was the Paycheck Protection Program (PPP). Two rounds of loans were offered to businesses to help them maintain their workforce during COVID. The program ended on May 31, 2021, but existing borrowers are...
While the infrastructure law that passed last year had many positives, it had at least one negative in ending the Employee Retention Tax Credit (ERTC) for wages paid after October 1, 2021. The ERTC was created in 2020 in response to COVID to provide financial benefits...
When the Tax Cuts and Jobs Act of 2017 increased the estate and gift tax exemption amount from $5.49 million to $10.98 million, it significantly reduced the number of wealthy Americans that had to worry about such taxes. However, the exemption and other trust and...
Too often, we don’t think about how to lower our income tax burden until we’re getting our documents together for tax season. We suddenly realize how much we paid in taxes and worry about what we may still owe. While it is generally too late to do anything about last...
If you have been following the negotiations over the Build Back Better Act (BBBA) in Congress, you know that many of the original provisions have been dropped from the bill. While passage of the Act in its present state is unlikely, we may still see changes to the tax...
