This article discusses and emphasizes the need for all businesses to be able to adapt and pivot in the right direction, especially during a crisis like the Coronavirus pandemic. Some tips that are outlined are the ability to strategize quickly, supporting company morale, staying grounded, and preparing for a future crisis through risk management. …
This article dies into the Many benefits that the architectural, engineering, and construction industries bring to the United States economy. To further their efforts, the government has set up research and development tax credit incentives in order to encourage innovation within the states. However, recently the “U.S. is losing high-paying jobs tied to manufacturing …
The U.S. Small Business Administration (SBA) recently announced a major update to the COVID-19 Economic Injury Disaster Loan (EIDL) program. As of the week of April 6, 2021, the maximum loan amount for COVID-19 EIDLs will increase to $500,000.
Under the CARES Act, the EIDL program was expanded to cover eligible businesses experiencing substantial economic …
Lisa joined the De Boer Baumann team in 2010. She was one of our initial hires when the South Haven office first opened! Lisa received her bachelor’s and master’s degrees from Western Michigan University before joining DBC. She handles bookkeeping and tax preparation for business clients as well as payroll for the South Haven …
For the second year in a row, the federal income tax filing due date for individuals has been postponed. The postponements come as a part of the fallout of the coronavirus pandemic and the legislation that has resulted from it, which has added complexity to tax filings and systemic strain to the U.S. tax …
The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision that liberalized the interaction between PPP loans and the Employee Retention Credit (ERC). Prior to its passage, if an employer obtained a Paycheck Protection Program (PPP) loan, the employer was …
In order to help trades and businesses to retain employees and keep them employed during the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act created the Employee Retention Credit for 2020. As part of the Consolidated Appropriations Act, 2021 (CCA), the credit has been extended through June 2021.The credit is actually …
If you recall, the Tax Cuts and Jobs Act (TCJA), effective beginning in 2018, eliminated the business-related deduction for entertainment, amusement or recreation expenses. However, it did retain a deduction for business meals when the expense is ordinary and necessary for carrying on the trade or business and is not lavish or extravagant, along …
As if this past year with all of its pandemic perils has not been stressful enough, the Office of the Inspector General for the Department of Labor has just added to our anxieties by announcing that at least $36 billion and possibly as much as $63 billion has been lost to improper unemployment payments …
This article discusses how all members of the agricultural industry are looking to bounce back this year after a very rough and unpredictable 2020. To do that, being educated on emerging trends such as a focus on regenerative agriculture, innovation, grower education, technology evolution, and soil emphasis are going to be key. Be sure …
