Category: Business Consulting and Planning

Business Consulting and Planning

Final Regulations Applying the High-Tax Exclusion to Global Intangible Low-Taxed Income by Timothy Larson, CPA


Posted on September 17, 2020 by Timothy Larson

The IRS recently issued final and proposed regulations relating to the treatment of “high-taxed” global intangible low-taxed income (GILTI), introduced in 2017 by the Tax Cuts and Jobs Act (TCJA). This latest guidance is welcome news to many U.S. investors, who may now make annual elections to exclude high-taxed GILTI from their gross income — […]

But I Already Paid the Tax by Jeffrey M. Mutnik, CPA/PFS


Posted on August 27, 2020 by Jeffrey Mutnik

The IRS typically takes about two weeks to process paper tax returns and payments it receives via mail from taxpayers. However, 2020 is far from typical. In the current environment, taxpayers should be prepared for some challenges, some of which the IRS is working to alleviate. Due to the IRS’s temporarily shut down of most […]

2019 Tax Refunds to be Delayed by Joanie B. Stein, CPA


Posted on July 30, 2020 by Joanie Stein

The COVID-19 pandemic that precipitated a three-month delay of the 2019 federal income tax filing deadline is also requiring taxpayers to wait longer than usual to receive any refunds to which they may be entitled. It is not unusual for taxpayers to view refunds as welcome surprises they can use to free-up cash flow, pay […]

Businesses Have More Time to Apply for Paycheck Protection Program (PPP) Loans by Joseph C. Leuchter, CPA


Posted on July 15, 2020 by Joseph Leuchter

Congress agreed to extend the timeline of the Paycheck Protection Program (PPP) to August 8, giving small businesses and nonprofit organizations an additional five weeks to apply for potentially forgivable government-backed loans. The PPP was introduced by the CARES Act to help qualifying businesses, nonprofits and self-employed taxpayers maintain operations and retail employees through the […]

Which COVID-19-Related Payroll Tax Credits Is My Business Eligible to Receive? by Cherry Laufenberg, CPA


Posted on July 02, 2020 by Cherry Laufenberg

In the wake of the COVID-19 pandemic, the U.S. enacted laws providing a variety of financial-relief measures to support businesses struggling to maintain operations and payroll through the crisis period. Key among those provisions are tax credits for businesses that retain employees despite full or partial suspensions of their operations and that continue to pay […]