Congress has provided businesses with a temporary tax break as a means of helping the restaurant industry, which has been devastated by the COVID pandemic.Although the Tax Cuts and Jobs Act eliminated the business deduction for entertainment, it continued to allow a deduction for 50% of the cost of qualified business meals.As part of …
President Biden presented his proposed American Families Plan (AFP) during his Joint Session of Congress address on April 29, 2021. What follows is an overview of what is included in the plan. But this is only his wish list; Congress will need to draft proposed legislation that will have to pass in both the …
An 18-year veteran of the accounting industry, Lynnette has been a member of the De Boer Baumann & Company team since 2015. She serves in the firm’s Holland & Grand Haven offices, working as a QuickBooks Certified Pro Advisor & Trainer and as Payroll Manager. Lynnette’s extensive professional history allows her to serve her …
Despite expending your very best efforts, you have probably lost a major client at some point during your manufacturing career. If this hasn’t happened to you yet, it probably will eventually. A recent article from Thomasnet offers some helpful tips for what to do in this situation. The article recommends trying to sell additional …
When it comes to digital marketing for a manufacturing business, email campaigns are one of the best tactics, according to a recent article from Thomasnet. Author Helen Carey offers a helpful list of “Do’s and Don’ts” to improve manufacturers’ email marketing efforts. She recommends focusing on crafting a strong subject line, using an email …
The coronavirus pandemic has had a costly impact on the manufacturing sector in the form of intense inflationary pressure on the prices of raw materials. A recent article from Industry Today offers some advice for manufacturers in light of this reality. Authors Joe Basar and Marta Mussacaleca recommend that manufacturers prioritize materials categories, identify …
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 …
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 …
