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.
Introducing IRS Form 1099-NEC
For many years, non-employee compensation has been reported in Box 7 on IRS form 1099-MISC. Beginning with the tax year 2020, non-employee compensation will be reported on the new form 1099-NEC in Box 1.
Assistance with SBA Paycheck Protection Loan Forgiveness
While we continue to wait for final guidance, entities with PPP loans over $150,000 may want to begin the forgiveness process. The first step is gathering the information needed to complete the application. The rules and calculations can be complex. Calculation and documentation errors can mean exposure and reduced forgiveness. For loans under $150,000, there…
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2020 Tax Planning Tips: Part 5
Part five of our Tax Planning series is all about small businesses! Keep reading for some great tips on how to minimize your 2020 tax bill. Are you an individual looking for tax advice? Click here for those tips. Year-end Planning Moves for Small Businesses Tax Tip #7: Net Operating Losses (NOLs) The CARES Act…
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2020 Tax Planning Tips: Part 4
If you’re new to our 2020 Tax Planning series, click here to start with Part 1! Otherwise, keep reading for some more great tips to help individual taxpayers minimize their 2020 tax bill. In Part 4, we’re going over intrafamily loans! Be on the lookout for part five, where we’ll get into year-end planning moves…
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Governor Ivey Announces $200 Million Small Business Grant Program “Revive Plus”
Governor Ivey Announces $200 Million Small Business Grant Program “Revive Plus” On Wednesday, Governor Kay Ivey announced Revive Plus, a $200 million grant program to support small businesses, non-profits and faith-based organizations in Alabama that have been impacted by COVID-19. Revive Plus is the second wave of funding for these organizations with 50 or fewer…
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2020 Tax Planning Tips: Part 1
Over the next several weeks, we’ll be highlighting numerous tax planning techniques to minimize your bill. These tips apply to individual taxpayers and businesses alike. We also encourage you to review our blog post on the tax platforms of each Presidential candidate—that will give you some great insight into what to expect from Biden over…
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PPP Update – Loan Forgiveness & Tax Planning
Dent Moses partners Mike Baker and James Moody, along with Nicole Reed of Capital Solutions discuss current Paycheck Protection Program Loan Forgiveness guidance as well as tax planning related to PPP. This update was recorded on 10.8.2020.