The Small Business Administration (SBA) has officially launched the Paycheck Protection Program (PPP) to help employees keep their paycheck and employers from feeling the burden of paying employees when to no fault of their own the government temporarily shut down their business. The program’s stated objective is “to provide a direct incentive for small businesses […]

Are you an employer that has had their operations fully or partially suspended as a result of a government order limiting commerce, travel or group meetings? If you answered yes, then the employee retention credit is available to you. The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax […]

On March 27th the CARES Act was passed making major changes to the tax law. As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of the CARES Act. The Coronavirus Aid, […]

The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions. One place to look for the information you need to make rational, reasonable moves is your financial statements. Under U.S. Generally Accepted Accounting Principles, financial statements typically comprise a statement of cash flows, a balance […]

On March 27, the President signed into law another coronavirus (Covid-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Employee retention credit The new law provides a refundable payroll tax credit for 50% of wages paid […]

To guard against natural disasters and other calamities, many companies buy business interruption insurance. These policies provide cash flow to cover revenues lost and expenses incurred while normal operations are limited or suspended. However, buying coverage is one thing — making a claim and receiving the funds is quite another. Depending on the scope of […]

Is your tax bill higher than you’d like it to be? There may still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the Wednesday, April 15, 2020, filing date and benefit from the resulting tax savings on your 2019 return. See […]

If you are a food and beverage business where tips are customary for your employees, you may be eligible for a tax credit. If you qualify, the tax credit is based on the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Ask your Rudler tax professional if you qualify […]

Business owners should remain cautious when their customer list is relatively short, or a few customers make up the majority of revenue. Here is a basic outline that can help in determining if concentration risk needs to be an area of focus for your business moving forward. Common problem A common problem among many companies […]

April 15 is quickly approaching and you have less than three months to file your 2019 individual tax return. Failure to file on time can result in tax penalties and interest, so it is extremely important to submit a return on time. However, it’s a good idea to familiarize yourself with tax-related amounts that may […]