October 2nd, 2020

Did you know if you’re a small business owner or are self-employed, you can receive an employer credit because of COVID-19?! The Employee Retention Credit encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by […]

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September 25th, 2020

Whether you claim a business office in the home, or are simply working at home because of COVID-19, you likely have some former personal assets that you now use for business if you are self-employed. You can also claim other home office deduction expenses! Ah, new tax deductions! Bought a new desk, chair, computer, printer […]

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September 19th, 2020

On March 18, 2020, the “Families First Coronavirus Response Act” (“FFCRA”) was enacted. This means that the Government will pay Employers to provide paid time off for certain virus related situations.  As discussed in my blog post dated March 20, 2020, two separate provisions were established to provide paid leave for employees absent from work […]

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September 4th, 2020

On August 8, 2020, President Trump issued a Memorandum allowing employers to defer withholding and payment of an employee’s portion of the Social Security tax. Medicare taxes, however, are not covered. The payroll tax deferral is effective starting September 1, 2020. How does this affects employers and employees? APPLICABLE WAGES Applicable wages refer to wages paid to […]

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