Many businesses are asking why the relief requested during the COVID-19 outbreak has still not arrived and wondering if there are issues with their request. According to the U.S. Treasury Inspector General for Tax Administration (TIGTA), they confirm that some businesses are waiting for relief amid … [Read more...] about Delayed COVID-19 Relief
COVID-19
Back by Popular Demand: Tools, Tips & Tidbits for Tax Year 2022
Several COVID-19 related tax provisions are set to expire for the 2022 tax year: Enhanced Child Tax Credit (reverts back to $2,000 per eligible child under age 18) Enhancements to the Dependent and Child Care Credit Expansions to the Earned Income Tax Credit Charitable deduction for … [Read more...] about Back by Popular Demand: Tools, Tips & Tidbits for Tax Year 2022
Applications Now Being Accepted for NY COVID-19 Capital Costs Tax Credit Program
NY Gov. Kathy Hochul announced this week that applications are now being accepted from small businesses that have successfully completed the prescreening process to become certified for the COVID-19 Capital Costs Tax Credit Program, where small businesses are eligible for a tax credit of 50% of … [Read more...] about Applications Now Being Accepted for NY COVID-19 Capital Costs Tax Credit Program
IRS Warns Employers About Third Parties Promoting Improper ERTC Claims
There have been many recent news stories on how the IRS is cracking down on businesses claiming Employee Retention Tax Credits (ERTCs) based on improper positions related to eligibility requirements and credit calculations. On October 21st, the IRS issued a press release warning employers to be … [Read more...] about IRS Warns Employers About Third Parties Promoting Improper ERTC Claims
Fraud in the Workplace in a Post-Pandemic Environment
The impacts of the COVID-19 pandemic have created hardships for consumers and businesses across the globe. The worldwide economy experienced significant losses in nearly all sectors and impacted virtually every household. Numerous businesses shut down, or were forced to temporarily close due to … [Read more...] about Fraud in the Workplace in a Post-Pandemic Environment
Business Succession Planning – Steps to Selling Your Business
Jim Segarra, Managing Partner of Tronconi Segarra & Associates LLP and Jamie Batt, Partner at law firm Rupp Baase Pfalzgraf Cunningham LLC recently presented Part II of their webinar on Business Succession Planning Considerations in the Era of COVID-19 to a special audience of the Niagara … [Read more...] about Business Succession Planning – Steps to Selling Your Business