To encourage charitable contributions to deserving qualified charities during these trying times, Congress has relaxed some of its restrictions related to how much a taxpayer can deduct as a charitable contribution in any given year. Under normal...
More InfoBusinesses Score Big Tax Benefits with the CARES Act
As part of the stimulus package to help offset the financial damage inflicted on businesses as a result of the COVID-19 crisis, Congress restored the ability of businesses that suffer a loss to carry those losses back and recover taxes paid in...
More InfoPaycheck Protection Program and Health Care Enhancement Act: What’s In It?
President Trump has signed the Paycheck Protection Program and Health Care Enhancement Act (PPP & HCE Act), a $484 billion package that was passed by both the Senate and the House the week of April 20, 2020. PPP & The CARES Act Following...
More InfoTax Credit Pays for Keeping Employees on Payroll
To help businesses retain employees and keep them employed during the COVID-19 crisis, Congress has provided a refundable employer retention credit available to all qualifying employers regardless of size, including tax-exempt organizations. To...
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