FAQ: Exempt Employee Deductions
Courtesy of Ahola Corporation Small business owners and leaders often have questions about exempt and non-exempt employee deductions. Read one of these frequently asked questions below. When can we deduct […]
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March 5, 2022
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February 28, 2022
10 Considerations for Claiming PPP Loan Forgiveness and the Employee Retention Credit
Courtesy of Ahola Corporation As business owners who received a Paycheck Protection Program loan prepare to file their 2021 taxes, they need to consider whether they are also eligible to […]
December 8, 2021
Michigan’s Minimum Wage Will Increase on January 1, 2022
Courtesy of Yeo & Yeo Michigan’s minimum wage rate will increase to $9.87 on January 1, 2022, an increase from the current $9.65. Michigan’s Improved Workforce Opportunity Wage Act establishes the […]
December 7, 2021
Handle Payroll Taxes With Kid Gloves
Courtesy of Yeo & Yeo If you operate a business that collects payroll taxes from employees, here’s a warning: Regardless of what your corporate financial situation is, don’t borrow from the […]
November 30, 2021
7 Tax-Smart Reasons to Hire Your Spouse
Courtesy of Yeo & Yeo Many businesses are having trouble recruiting and retaining qualified workers today. Nearly 90% of employers reported difficulty filling open positions, according to a recent survey conducted […]
November 27, 2021
The Infrastructure Investment and Jobs Act Includes Tax-related Provisions You’ll Want to Know About
Courtesy of Yeo & Yeo Almost three months after it passed the U.S. Senate, the U.S. House of Representatives has passed the Infrastructure Investment and Jobs Act (IIJA), better known […]
August 25, 2021
Don’t Forget About the Work Opportunity Tax Credit
Courtesy of Yeo & Yeo Are you a business owner thinking about hiring? Be aware that a recent law extended a credit for hiring individuals from one or more targeted […]
March 25, 2021
What are the Tax Implications of Buying or Selling a Business?
By Zaher Basha, CPA, CM&AA, courtesy of Yeo & Yeo Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 […]
March 24, 2021
Follow Detailed Recordkeeping Rules for Vehicle Expense Deductions
Courtesy of Yeo & Yeo Many business owners fail to follow the strict tax rules for substantiating vehicle expenses. But if your business is audited, the IRS will most likely ask […]
March 19, 2021
Federal Income Tax Filing Deadline Extended to May 17
Courtesy of Ahola Corporation The filing date for the federal income tax has been postponed until May 17. The IRS has announced that individual taxpayers can also postpone federal income […]
March 6, 2021
Salary History Bans – Know the Limitations
By Sheila Hoover, courtesy of SBAM Approved Partner ASE ASE has received many questions regarding the salary history ban many states have enacted recently. A salary history ban prohibits employers […]
February 27, 2021
Employee Retention Tax Credit Overview
Courtesy of Ahola Corporation The second relief bill, passed at the end of 2020, contains updates to the employee retention credit, a refundable payroll tax credit. Each option has its […]
February 16, 2021
Inoculating Your Business for the Post-COVID Economy: Disruptions Create Opportunity
By Leon LeBrecque, originally featured in SBAM’s FOCUS Magazine Good riddance to 2020, to pandemics, to shutdowns, to complicated new regulations and to elections. The question we need to ask […]
January 19, 2021
Quick Action Required – New Stimulus For Small Business
By Leon LaBrecque, JD, CPA, CFP®, CFA | Chief Growth Officer, Sequoia Financial The Consolidated Appropriations Act (CAA) gave us some last-minute fiscal relief, notably $600 stimulus checks for individuals and […]
January 4, 2021
COVID Relief Bill: Tax Credits for Paid Leave Extended to March 31
Courtesy of Ahola Corporation A new $900 billion coronavirus relief bill has become law and answers the question of whether federal Emergency Paid Sick Leave (EPSL) and Emergency Family and […]
December 31, 2020
Understanding IRS Audit Guidance
Courtesy of Yeo & Yeo IRS examiners usually do their homework before meeting with taxpayers and their professional representatives. This includes reviewing any relevant Audit Techniques Guides (ATGs) that typically focus […]
December 22, 2020
Family Business Owners Must Weave Together Succession and Estate Planning
By Rebecca Millsap, CPA, courtesy of Yeo & Yeo It’s been estimated that there are roughly 5 million family-owned businesses in the United States. Annually, these companies make substantial contributions to both […]
December 21, 2020
FAQs About Tax-Free Disaster Relief Payments During the COVID-19 Crisis
Courtesy of Yeo & Yeo Many people are struggling to make ends meet during the COVID-19 pandemic. Fortunately, some individuals qualify for federal-income-tax-free disaster relief and disaster mitigation payments paid by […]
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