California small business taxes can top 53%. Here are 19 valuable tax deductions for the self-employed and small business owners.
TheIRS announced in late 2020that it will increase tax audits of small businesses by 50 percent in 2021. At a time when many small-business owners are still scrambling to findrelief from the coronavirus pandemic, this is likely the last news entrepreneurs wanted to hear. For...
Coronavirus ExplainerGuide Small Business PPP Relief Program Runs Out of Money PPP loans and grants are being being used for payroll and other essentials. AdvicePolicyResources 42% | Percentage of Small Business Owners Who Say it’s a Challenge to Fill an Open Job Position ...
2020 COVID-19 Payroll Taxes SuspendedPlease read IRS Notice 2020-22 regarding the CARES (Coronavirus Aid, Relief, and Economic Security) Act which allowed eligible employers to defer payment of the employer's share of FICA between March 27 and December 31, 2020. The deferred payments are due ...
Coronavirus Aid, Relief, and Economic Security Act (CARES Act)was additionally, signed by the President on March 27, 2020. It includes provision for an eligible employer to claim a refundable payroll tax credit for retaining employees during the COVID-19 crisis. An eligible employer, for purpose...
The deadlines to FILE and PAY federal income taxes are extended toJuly 15, 2020. The IRS has established a special section of its website focused on steps to help taxpayers, businesses and others affected by the coronavirus. The distribution of economic impact payments will begin in...
During the pandemic, so many federal aid programs and policy changes have passed that it might be hard for small businesses to keep track of them all. Below are the top coronavirus aid programs and policy changes small businesses should know. ...
Small and medium-sized employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing coronavirus-related leave to their employees. This relief to employees and small and midsize business...
COVID-19 relief programs such as social security deferrals, emergency paid sick leave, and employee retention credits were rolled out in 2020 to support small businesses. However, frequent changes in legislation and delayed guidance for businesses left many owing unforeseen taxes. These businesses were...
SBA Coronavirus Disaster assistance loans were designed to help businesses recover from the economic effects of COVID-19. Disaster assistance loans of up to $500,000 with maximum terms of 30 years were available. Small business owners in all 50 states, Washington, D.C., and U.S. territories...