INSIGHT

CA PPP Forgiveness Taxation

PPP deductions may be coming for California (04-08-21) The IRS and the Treasury have announced that states can conform to recent federal tax benefits (such as the allowance of deductions for amounts paid with forgiven PPP [...]

By |2021-04-16T18:03:47+00:00April 16th, 2021|Accounting Tips, Corporate Tax, Small Business|Comments Off on CA PPP Forgiveness Taxation

The Best of the Worst: Fun Facts About Taxes

It's getting closer to tax day and we thought you'd enjoy a few fun facts about tax returns. Written by Lynn Freer, EA Spidell Publishing Longest tax return: In 2011, General Electric filed a 57,000-page [...]

By |2021-04-08T21:41:31+00:00April 8th, 2021|Corporate Tax, Individual Income Taxes|Comments Off on The Best of the Worst: Fun Facts About Taxes

State residency – a complex area fraught with peril

This is a great article on this precarious topic, written by Bob Carlson for Forbes Magazine. See the story here. You’ve Moved. Be Sure You Can Prove It To The Tax Authorities Many workers began [...]

By |2021-03-24T17:04:11+00:00March 24th, 2021|Accounting Tips, Small Business, Tax and Auditing|Comments Off on State residency – a complex area fraught with peril

2020 Federal Income Tax Initial Filing Deadline for Individuals Extended to May 17, 2021

The Internal Revenue Service has extended the U.S. individual income tax initial filing deadline to May 17, 2021 for the 2020 tax year.  Individuals can also postpone federal income tax payments for the 2020 tax [...]

By |2021-03-18T17:32:08+00:00March 18th, 2021|Individual Income Taxes, Tax and Auditing|Comments Off on 2020 Federal Income Tax Initial Filing Deadline for Individuals Extended to May 17, 2021

How Accounting Should Support an Acquisition or Merger

Mergers and acquisitions require many hours of work through different phases to be completely assembled. This work often spans across various team members in an organization. Proper accounting support is absolutely necessary for the success [...]

By |2021-02-19T00:48:51+00:00February 19th, 2021|Business Consulting, Small Business|Comments Off on How Accounting Should Support an Acquisition or Merger

Second Draw PPP Loans Now Available

The U.S. Small Business Administration released initial details and guidelines for the updated Paycheck Protection Program (PPP) Second Draw Loans on January 6th, 2021. New and second draw borrowers now have access to the program [...]

By |2021-01-25T22:41:06+00:00January 22nd, 2021|COVID-19, Small Business, Sousa & Weber News|Comments Off on Second Draw PPP Loans Now Available

COVID Intensifies Wayfair Ruling Impact

State tax collections have nosedived as much as 50 percent in the fallout of the coronavirus pandemic. All states, without question, will face significant fiscal challenges as a result of the COVID-19 pandemic. However, as [...]

By |2020-10-05T18:25:28+00:00September 25th, 2020|COVID-19, Small Business, Tax and Auditing|Comments Off on COVID Intensifies Wayfair Ruling Impact

The Impact of the CARES Act on NOLs

In addition to providing economic relief to individuals and loans to businesses struggling during the coronavirus crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act changed some tax provisions to ensure firms survive a [...]

By |2020-06-25T17:19:46+00:00June 24th, 2020|COVID-19, Tax and Auditing|Comments Off on The Impact of the CARES Act on NOLs

Paycheck Protection Program Flexibility Act of 2020 – HR 1070

The Paycheck Protection Program Flexibility Act (HR 7010) was signed into law on June 5, 2020.  We thought it would be helpful to share what we have gleaned from the bill so that you can [...]

By |2020-06-08T19:21:28+00:00June 8th, 2020|COVID-19, Small Business, Sousa & Weber News|Comments Off on Paycheck Protection Program Flexibility Act of 2020 – HR 1070

SBA’s Guidance on PPP and Employee Refusal to be Rehired

The team at Sousa & Weber have had several inquiries related to employee layoffs and rehires with respect to the Paycheck Protection Program (PPP). Some employers are finding it difficult to get hourly employees to [...]

By |2020-05-13T21:40:32+00:00May 13th, 2020|COVID-19, Tax and Auditing|Comments Off on SBA’s Guidance on PPP and Employee Refusal to be Rehired
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