The American Rescue Plan not only expanded the amount of the Child Tax Credit, but also created a newly advanceable monthly payment that commenced on July 15th and is expected to continue monthly for the remainder of the 2021 tax year. The advance monthly payments are new and were rolled out … [Read more...] about 2021 Child Tax Credit and Advance Payments: A Deeper Dive
As the current work environment continues to evolve, employers are seeking out additional information on the ability to work remotely and what tax impact that has on the business and its employees. Employers should begin by considering a few questions: In which state(s) do we have employees … [Read more...] about Considerations for a Remote Workforce
Our new newsletter issue is jam-packed with timely information to help you make important decisions for your business or personal situation now and over the next few months. Click here to download a PDF of this newsletter. As always, if you have any questions or need assistance, please contact your … [Read more...] about NEW – Summer 2021 Small Business Newsletter
The 2021-22 New York State budget legislation includes a Passthrough Entity (PTE) tax as a workaround for the $10,000 state and local tax (SALT) cap, which was enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA), to limit the amount of state and local tax an individual could deduct on their … [Read more...] about New – NYS Passthrough Entity Tax, a Workaround for the SALT Cap: Is it Right For Your Business?
Links to our August Cross-Border News: Webinar: Relocation Planning for U.S. Immigrants - Registration (gotowebinar.com) Doing Business in the U.S., Sales Tax Update and Other Tax Matters - Doing Business in the U.S.: Sales Tax Update and Other Tax Matters (tsacpa.com) And: Doing Business … [Read more...] about August Cross-Border News
On Thursday, August 5, 2021, New York State announced the launch of the New York Restaurant Return-to-Work Tax Credit. This $35 million tax credit program provides an incentive to COVID-impacted restaurants to bring restaurant staff back-to-work, and to increase hiring at restaurants across the … [Read more...] about New York Restaurant Return-to-Work Tax Credit