Claiming the Benefits of Employee Retention Credits
As we have shared in previous correspondence, the new Employee Retention Credit (ERC) creates a nice opportunity to claim a tax benefit for keeping your workers on the payroll during the pandemic. In order to qualify, your business must have been subject to 1) a government-ordered shutdown or 2) a significant decline in revenue. Because…
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Ready to Apply for PPP Loan Forgiveness? Stop and Reconsider
For the past several months, we have advised many clients to patiently wait on applying for PPP forgiveness. There were a number of uncertainties, including taxability of forgiven amounts and potential future legislation. Good news – The recently passed Consolidated Appropriations Act, 2021 made two major changes related to PPP forgiveness. The first is to clarify the…
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Employee Retention Tax Credit- Understanding changes made by the Credit Consolidated Appropriations Act
Employee Retention Tax Credit- Understanding changes made by the Credit Consolidated Appropriations Act You may have seen or read about the Employee Retention Tax Credit (ERC) that was introduced with the CARES Act and clarified by the recent Consolidated Appropriations Act (CAA). The short version is, if your business was shut down or severely impaired…
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PPP2 Application & Additional Guidance
Late on January 6th, the SBA issued 120 pages of guidance in the form of Interim Final Rules. The revised application for Paycheck Protection Program Part 2 was released on January 8th.
The SBA will begin taking applications on January 11th although only new borrowers in underserved communities will have access today and tomorrow. On Wednesday, January 13th, all eligible entities nationwide will be able to apply.
Net Operating Losses and Qualified Improvement Property – VIDEO
Join Dent Moses Managing Partner, Mike Baker, as he discusses Net Operating Losses and Qualified Improvement Property around the CARES Act. Watch Now.
Tax Planning for Itemized Deductions – VIDEO
Join Dent Moses partner, Trey Whitt as he discusses Tax Planning for Itemized Deductions. Watch Now.
Taxation of Capital Gains and Losses – VIDEO
Join Dent Moses Managing Partner, Mike Baker, as he discusses Taxation of Capital Gains and Losses. Watch Now.
Santa Finally Brings Something We Can All Use – PPP Relief!
Lawmakers finally ended months of negotiations to agree on a $900 billion Covid stimulus package. The bill is referred to as “The Consolidated Appropriations Act, 2021”. Changes to the PPP program included in the stimulus package include:
Dent Moses is Here to Help with PPP Forgiveness Applications
Most banks have opened their PPP Forgiveness online portals and many clients are ready to apply for forgiveness of PPP loans. We are here to help. Our tax and accounting advisors have spent the past 8 months following the PPP loan program as it was enacted, funded, and went through a series of changes over…
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Tax Rates – How Income is Taxed VIDEO
Join Dent Moses Partner, Trey Whitt as he discusses Tax Rates – How Income is Taxed.