One of the most important and impacting decisions a business owner makes is deciding what type of entity is best suited for their company. Below are benefits from electing to be an S Corp, but also items to be aware of. Anticipating losses If you expect that the business will incur losses in its […]
Author Archive: rudleradmin
IRS Extends Some April 15th Filing Deadlines
In a news release, the IRS and Treasury Department announced an extension of the April 15th deadline to May 17th for the filing of 2020 individual income tax returns and the associated tax payments. In a news release, the IRS and Treasury Department announced an extension of the April 15th deadline to May 17th […]
ARPA extends the ERC. All these letters getting you scrambled… Don’t worry, lets break them down to what they really mean for your business.
ARPA, the American Recovery Plan Act signed into law on March 11th has extended the ERC, Employee Retention Credit. Employee Retention Credits can be a very useful tool to aid in the recovery from the COVID-19 pandemic. Read on to find out more about ERC and how they can help you. The original credit As […]
Parents and other eligible taxpayers to receive direct payments under ARPA. What does this mean for you?
ARPA, the American Rescue Plan act that was signed into law on March 11th added a major change to the Child Tax Credit. The most drastic of the changes are direct payments to parents in certain tax brackets. We bet you are curious if are eligible? Rudler, PSC has you covered. Below are answers to […]
Small business highlights in the new American Rescue Plan
We have all heard the benefits for individuals that were included in the act signed by President Biden on March 11. However, there are also some potential benefits for businesses to be aware of. Here are a few tax highlights that may help many business owners. The Employee Retention Credit (ERC). This valuable tax credit […]
Update on COVID-related deadline extensions for health care benefits
The DOL recently issued EBSA Disaster Relief Notice 2021-01. Employers should be particularly interested in Notice 2021-01. It clarifies the duration of certain COVID-19-related deadline extensions that apply to health care benefits plans. Extensions to continue The DOL and IRS issued guidance last year specifying that the COVID-19 outbreak period — defined as beginning […]
What You Need to Know About the American Rescue Plan Act of 2021
From a taxpayer perspective, the bill included tax provisions that provide relief both to businesses and individuals through enhancements, and expansions of credits and programs that were put in place to keep families and small businesses afloat through the ongoing crisis. See details below on these important updates as they may benefit you and your […]
5 different ways to conduct and strengthen your sales process
Although the U.S. economy still has some progress to make to get to where it was before the COVID-19 pandemic hit a little over a year ago, experts are expecting sturdy job growth and economic activity in the coming months, especially as the vaccine becomes more readily available. No matter what your business does, you […]
Do you make estimated tax payments? Remember the first 2021 deadline to pay is coming up.
If you make estimated payments, April 15th is not only an important date for your tax return, but also for your first quarter estimated tax payment. You may have to make estimated tax payments if you receive interest, dividends, alimony, self-employment income, capital gains, prize money or other income. If you don’t pay enough tax […]
Starting a small business? Here are some different tax matters to remember.
The COVID-19 pandemic has effected nearly everyone in some way. While many businesses have closed, some small businesses have opened. Many small businesses get their start as a sole proprietor. Here are some aspects of taxes to consider when operating your business as a sole proprietor. The pass-through deduction To the extent your business generates […]