CAA Archives - BeachFleischman CPAs

Did you make donations in 2020? There’s still time to get substantiation

February 18, 2021 Tax Department Tax Bites CAA, CARES, charitable donations, donations, substantiation requirements, tax planning

In order to claim a charitable deduction on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t received one yet for a charitable donation you made in 2020?

Employee Retention Credit – The Rules Become More Liberal, More Complex

February 16, 2021 February 25, 2021 Tax Department COVID-19, Tax Bites CAA, CARES, COVID-19, employee retention credit, payroll taxes, social security

Learn about the recent tax law changes affecting the employer retention tax credit, potential benefits, and more

How Congress is Planning to Rescue Restaurants Through Tax Deductions

February 5, 2021 February 22, 2021 Benjamin Schutt Tax Bites CAA, CARES, COVID-19, deductible expenses, meals and expenses, restaurants, tax deductions

Lawmakers seek to tweak an existing business deduction to boost the restaurant industry’s bottom line and put thousands back to work.

Late 2020 Tax Legislation Provides Targeted Tax Relief

January 18, 2021 February 19, 2021 Kim Paskal COVID-19, Tax Bites CAA, CARES, employee retention credit, PPP Loans, tax relief

On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law by the President. The CAA, 2021 is the fourth major relief legislation enacted in response to the coronavirus pandemic. Some of the provisions grant retroactive relief to 2020.

New law provides option to delay implementing the updated CECL standard

January 14, 2021 February 2, 2021 Tax Department Assurance, COVID-19 CAA, CECL, COVID-19, FASB

The current expected credit loss (CECL) standard has been delayed again. Under the recently enacted COVID-19 economic relief package, large public banks get a reprieve from implementing the updated rules.

How can your business benefit from the Consolidated Appropriations Act?

January 14, 2021 Tax Department COVID-19, Tax Bites CAA, COVID-19, employee retention credit, PPP, PPP2

How can your business benefit from the Consolidated Appropriations Act of 2021?

The Consolidated Appropriations Act brings COVID-19 relief (and more) to individuals

January 14, 2021 February 2, 2021 Tax Department COVID-19, Tax Bites CAA, charitable contributions, child tax credits, COVID-19, FSA, housing relief, recovery rebates, retirement relief, student loans, unemployment benefits

Learn how provisions of the new Consolidated Appropriations Act can benefit you and your loved ones.

Need another PPP loan for your small business? Here are the new rules

January 6, 2021 February 2, 2021 SOAR COVID-19, SOAR CAA, CARES, PPP, PPP Loan Forgiveness

Could your small business use another cash infusion from the Paycheck Protection Program? The new COVID-19 relief law makes this a distinct possibility if you qualify.

Closing 2020 with Some Good News

January 5, 2021 January 7, 2021 Eric Freeman COVID-19 CAA, CARES, COVID-19, PPP, PPP Loan Forgiveness

Paycheck Protection Program Corrections and Additional Funding Many industries were severely impacted by the COVID-19 pandemic, and real estate was no exception. Leases and loans were renegotiated, rents were deferred or reduced and some tenants went out of business. Congress passed the Paycheck Protection Program (PPP) as part of the CARES Act, and while good[ … ]