Tax Bites Archives - BeachFleischman CPAs

Raising Arizona: Understanding the Financial and Operational Challenges in the Cannabis Industry

April 6, 2021 April 7, 2021 Josephine Giordano Cannabis, COVID-19, Tax Bites arizona economy, cannabis, cannabis business, COVID-19, proposition 207, recreational marijuana

Despite the financial, operational and legal challenges facing the cannabis industry, significant growth is expected in Arizona and throughout the U.S. Establishing a consistent and effective risk framework to address these challenges will minimize losses in the future.

EIDL loans, restaurant grants offer relief to struggling small businesses

April 1, 2021 Tax Department COVID-19, Hospitality, Tax Bites ARPA, COVID-19, EIDL, restaurant, restaurants, small business

Could your small business or restaurant use a tax-advantaged loan from the Small Business Administration? A recently passed COVID-relief act offers a couple of intriguing options.

PPP application deadline extended

March 30, 2021 Tax Department COVID-19, Tax Bites ARPA, CAA, CARES, COVID-19, PPP, PPP Extension Act of 2021, PPP Loans, SBA

Eligible businesses affected by the COVID-19 pandemic now have until May 31 to apply for a PPP loan. Here’s the latest on the popular loan program.

Summary of Tax Filing Deadline Change

March 29, 2021 April 6, 2021 Tax Department COVID-19, Tax Bites estimated tax payments, HSA, Individual Tax Extensions, state tax deadline, tax credit donations, tax deadlines, tax filing deadline

The Treasury Department and IRS recently announced that the 2020 tax year federal income tax filing deadline for individuals would be moved to May 17, 2021. Here are the important, related details.

New law tax break may make child care less expensive

March 24, 2021 March 25, 2021 Tax Department Tax Bites ARPA, child care, Child or Dependent Care credit

Child care is expensive. The newly enhanced child and dependent care credit may help for 2021.

Extended tax filing deadline provides relief to individual taxpayers and the IRS

March 19, 2021 March 25, 2021 Tax Department Tax Bites estimated tax payments, Individual Tax Extensions, state tax deadline, tax filing deadline

Due to the pandemic and an unprecedented backlog of tax returns waiting to be processed, the IRS has postponed the federal tax filing deadline to May 17, 2021.

Business highlights in the new American Rescue Plan Act

March 16, 2021 March 17, 2021 Tax Department COVID-19, Tax Bites ARPA, COVID-19, DCAP, employee retention credit, FFCRA, SBA

You’ve probably heard about the new law that provides direct payments to eligible individuals. But what does the law provide to businesses?

The latest on COVID-related deadline extensions for healthcare benefits

March 15, 2021 March 17, 2021 Tax Department COVID-19, Tax Bites benefits, COVID-19, disaster relief, DOL, healthcare, HIPAA

Employers that sponsor health care plans should start devising communication strategies regarding COVID-related deadline extensions and when those extensions may end.