September 29, 2021
The Employee Retention Credit (ERC) has been expanded until Dec. 31, 2021. Don’t assume your business is ineligible for the ERC.
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Tax: Business Archives - Page 7 of 10 - GG Advisors LLC
August 12, 2021
Tax planning can help any business save money on taxes and minimize errors in tax filings. Here are some strategies to start tax planning.
July 8, 2021
With the rise of VRBO and Airbnb, allowing short-term rentals on a vacation home are becoming more popular. Here’s what you need to know about vacation home taxes.
June 9, 2021
The IRS is cracking down on cryptocurrency reporting on tax documents. Here's what you need to know to properly report gains and losses on your tax return.
June 8, 2021
Since the pandemic, the IRS has temporarily changed the tax-deductible amount allowed for some business meals to encourage increased sales at restaurants
May 18, 2021
Summer Reminder: Safe Harbor Rules for Rental Real Estate
May 14, 2021
Recent updates to 1031-exchange regulations provide new details on the definition of real property and incidental property and provide new means for testing fixtures involved in like-kind property exchanges.
April 26, 2021
Avoid these top audit triggers and make sure your business is following best practices to avoid an IRS audit this year.
March 12, 2021
The American Rescue Plan Act (ARPA) has been signed into law by President Biden and makes significant updates to several tax provisions to alleviate some of the pandemic's financial burdens for individual taxpayers and businesses. Updates include expansions and extensions of various tax credits such as the employee retention credit (ERC), COBRA continuation coverage, Affordable Care Act (ACA) subsidies, and more. The bill also includes $1.46 billion for the IRS to manage the additional responsibilities on top of the annual tax filing season. Here are the critical tax updates.
March 12, 2021
The American Rescue Plan Act (ARPA) of 2021 passed Congress and President Biden signed the bill into law on March 12, 2021. The ARPA approves $1.9 trillion in spending for individuals, businesses, governments, and certain industries impacted by the COVID-19 pandemic. The third Act in a year, the ARPA approves additional economic impact payments for individuals; the extension of federal unemployment benefits; additional funds for Paycheck Protection Program (PPP) Loans, and Economic Injury Disaster Loans (EIDL) for hard-hit small businesses; and grants for food and beverage establishments. Here are the key individual and business provisions in the bill.