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COVID-19 Information. Click here to view all COVID-19 related news and information.
✕December 19, 2023
2023 Tax Planning Itemized Deductions There are two ways you can take deductions on your federal income tax return: you can itemize deductions or use the […]
December 12, 2023
Standard vs Itemized Deductions There are two ways you can take deductions on your federal income tax return: you can itemize deductions or use the standard […]
December 5, 2023
Optional Standard Mileage Rates Businesses generally can deduct the entire cost of operating a vehicle for business purposes. Alternatively, they can use the business standard mileage […]
November 15, 2023
Tax Planning: Qualified Opportunity Zones The Tax Cuts and Jobs Act includes changes for businesses and individuals. One of these is the creation of the opportunity […]
November 14, 2023
Below you will find the contents of the presentations from the 2023 AFairchild Business Luncheon on November 14th. Please let us know if you have any […]
November 7, 2023
2023 Tax Planning: Excess Business Losses of Noncorporate Taxpayers Under the CARES Act, the limitation on excess business losses for shareholders and partners of pass-through businesses […]
November 1, 2023
Tax Planning: Basis of Property Acquired Under Code Secs 1031 or 1033 In certain types of transactions there are opportunities for taxpayers to defer gain on […]
October 25, 2023
Many businesses consider the occasional wining and dining of customers and clients just to stay in touch with them to be a necessary cost of doing […]
January 7, 2021
On
December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues
Act (Economic Aid Act) (Pub. L. 116-260) became law. The Economic Aid Act extends the
authority to make PPP loans through March 31, 2021 and revises certain PPP requirements. This
2
interim final rule incorporates the Economic Aid Act amendments required to be implemented
by regulation within 10 days of enactment.
January 7, 2021
This interim final rule announces the implementation of section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid
Act).
January 7, 2021
On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA) was signed
into law which included additional COVID-19 related relief. Key financial reporting
provisions of the CAA that we believe are of the most interest to our CPEA members are
presented below. The CAA is voluminous and covers a wide range of topics. We
encourage our members to stay abreast of developments related to the CAA as further
analysis and implementation of its provisions progress.