Over the course of doing business, you will hire certain vendors to provide a good or service to your business. Other times you will hire a contractor to perform a specific task or project for your business. Either way, issuing payment is necessary. While payments to vendors generally are a repetitive and routine task, payments…
On February 10th, 2023, FRSCPA celebrated its 39th year of business. Both office locations celebrated with a staff lunch and a fun photo collage commemorating the humble beginnings from 1984 and beyond. Time sure flies!
Over the past couple of years, several tax acts were enacted to assist in the taxpayer recovery from the COVID-19 pandemic. Most of the tax legislation from the American Rescue Plan (ARP) Act, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Consolidated Appropriations Act, 2021 (CAA 2021) have sunset provisions that…
This past year was relatively quiet on the tax legislation front. Over the past couple of years, several tax acts were enacted to assist in the taxpayer recovery from the COVID-19 pandemic. Most of the tax legislation from the American Rescue Plan (ARP) Act, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and…
January 14, 2022 As the recovery from the pandemic takes hold and the economy and life begin to return to a more recognizable form of normal, we hope you and your loved ones are safe and in good health. Throughout 2021, Congress has enacted various provisions designed to help taxpayers recover from the COVID-19 pandemic…
January 14, 2022 As the recovery from the pandemic takes hold and life begins to return to a more recognizable form of normal, we hope you and your loved ones are safe and in good health. Throughout 2021, Congress has enacted various provisions designed to help taxpayers recover from the COVID-19 pandemic and extended previously…
We urge you to ACT SOON! Due to income limitations, many of our clients may not be eligible for this credit or advance payment. We are recommending that married filers UNENROLL from the advance payment if your Adjusted Gross Income (AGI) is more $150,000 ($75,000 if single). To do so, please follow this link and…
The Employee Retention Credit is a CARES Act relief measure for businesses. It is a fully refundable tax credit that eligible employers who are able to keep employees on payroll can claim. The Continuing Appropriations Act of 2021 has further extended and expanded the credit. A company that received the PPP loan is now eligible…
In these challenging times, we hope you and your loved ones are safe and in good health. We recognize many of you have experienced many unexpected changes and hardships due to the COVID-19 crisis this past year. Congress addressed the crisis by passing the Coronavirus Aid, Relief, and Economic Security Act or “CARES Act” in…
In these challenging times, we hope you and your loved ones are safe and in good health. In the past year, businesses faced numerous unexpected challenges due to the COVID-19 crisis. Congress addressed the crisis by passing the Coronavirus Aid, Relief, and Economic Security Act or “CARES Act” in March 2020 and the Consolidated Appropriations…