by KLPCPA | Aug 14, 2020 | IRS, Small Business, Taxes
Call Now Setup an Appointment If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and...
by KLPCPA | Jul 22, 2020 | Taxes
Call Now Setup an Appointment During the COVID-19 pandemic, many small businesses are strapped for cash. They may find it beneficial to barter for goods and services instead of paying cash for them. If your business gets involved in bartering, remember that the fair...
by KLPCPA | Jun 23, 2020 | Small Business, Taxes
Call Now Setup an Appointment While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to launch new businesses. For example, some businesses are being launched online to provide products and...
by KLPCPA | Nov 27, 2019 | Small Business, Taxes
Call Now Setup an Appointment At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related tax breaks that may help your business reduce its 2019 tax...
by KLPCPA | Nov 18, 2019 | Small Business, Taxes
Call Now Setup an Appointment A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors, and others. You may have to send 1099-MISC forms to those whom you pay nonemployee...
CARES Act made changes to excess business losses
The possible tax consequences of PPP loans
File cash transaction reports for your business — on paper or electronically
Why do partners sometimes report more income on tax returns than they receive in cash?
Even if no money changes hands, bartering is a taxable transaction