2020 Accounting & Assurance Insights

Tax Prep, Planning & Strategy

Do you have a side gig? Make sure you understand your tax obligations

The number of people engaged in the “gig” or sharing economy has grown in recent years, according to a 2019 IRS report. And there are tax…

Tax Prep, Planning & Strategy

The SBA’s Paycheck Protection Program

To stem the tide of joblessness caused by the coronavirus (COVID-19) outbreak, the Small Business Administration (SBA) has officially launched…

Tax Prep, Planning & Strategy

Answers to questions about the CARES Act employee retention tax credit

The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid…

Tax Prep, Planning & Strategy

Hiring independent contractors? Make sure they’re properly classified

As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful…

Tax Prep, Planning & Strategy

The CARES Act liberalizes net operating losses

The Coronavirus Aid, Relief, and Economic Security (CARES) Act eliminates some of the tax-revenue-generating provisions included in a previous…

Tax Prep, Planning & Strategy

Here’s how to handle gifts in kind and donated services

As unemployment and financial insecurity become widespread during the novel coronavirus (COVID-19) crisis, many not-for-profit donors find themselves…

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wcscpas Weyrich Cronin Sorra @wcscpas ·
2 May

"The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear." https://bit.ly/3JhDEpM

wcscpas Weyrich Cronin Sorra @wcscpas ·
30 Apr

"But if you segment responsibilities into committees, you can help ease the burden on board members — and retain them longer. Committee work has other benefits as well." https://bit.ly/4421fUR