Tax Planning Articles
Tax Planning Articles
Tax Watch
SBA Issues PPP Loan Update on Forgiveness Eligibility
Now that the Paycheck Protection Program (PPP) loan application period has ended, businesses that have taken PPP loans are concerned about meeting eligibility for loan forgiveness. PPP loans are generally forgivable if a business uses at least 60% of the loan proceeds...
Best Practices for Nonprofits Tackling 2021 Budgeting Challenges
With all the economic upheaval that COVID-19 has brought to 2020, budgeting for 2021 is sure to be challenging for many nonprofits. Some nonprofits cut back their services, operations and staffing during 2020, and others changed their mission to address more pressing...
Red Flags That Can Trigger An IRS Business Audit
The possibility of an IRS audit haunts many businesses, but what factors contribute to that risk? For example, have business processes been implemented to sufficiently capture required documentation, such as withholdings and withholding taxes? Has the business been...
The Cone of Uncertainty
If you are in the cone when a hurricane approaches, you know when to start preparations for the upcoming storm. 2020 has been a very long stormy year for the business community and for tax professionals.
Can Digital Construction Technology Help the Industry Survive the Pandemic?
DMJ & Co., PLLC reports that the construction industry has been slow to adopt digital technology, but the pandemic may speed the process and help firms survive.
Construction Companies Access CARES Act for Economic Relief During COVID-19
DMJ & Co., PLLC explains how construction companies have accessed federal economic relief programs under the CARES Act to survive during the pandemic.
Presidential Executive Order on Deferring FICA Withholdings
Late Friday, August 28, 2020, the IRS issued a notice explaining how to comply with the President’s EO.
The Aftermath of the Paycheck Protection Program (PPP)
BACKGROUND On March 27, 2020, the President signed the Coronavirus Aid, Relief, and Economic Security Act, enacting it into law. The bill had been passed overwhelmingly, in a bipartisan manner, by both the House and Senate, as legislators struggled to take action to...
Tax Implications of Working Remotely
DMJ & Co., PLLC advises that several states have waived nexus for employees working remotely during the COVID-19 emergency.
PPP Loan Application Simplified
DMJ & Co., PLLC explains that the PPP loan forgiveness application has been simplified, and a new EZ option was introduced to streamline the application process (forms included).