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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

In late February of 2021, adjustments were made to the PPP Loan, to provide money that is needed to small businesses. The adjustments address five primary objectives. 1. Move the smallest businesses to the front of the line. The SBA has established a two-week exclusive application period for businesses and nonprofits with fewer than 20 […]

If you are considering retirement or planning on retiring soon, you’ll want to familiarize yourself with The SECURE Act, which was signed into law in late 2019 and has impacted retirement.   You can keep making traditional IRA contributions if you’re still working Before 2020, traditional IRA contributions weren’t allowed once you reached age 70½. […]

If you have recently hired employees, or are looking to hire employees in the near future, be aware that a recent law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a tax credit known as the Work Opportunity Tax Credit (WOTC) that’s worth as much as $2,400 […]

Rudler has put together some factors to explore when deciding whether a Roth contribution feature would make sense for your company and its employees. If your business sponsors a 401(k) plan, you might be considering adding designated Roth contributions. Key differences Roth contributions differ from other elective deferrals in two key tax respects. First, they’re […]