Are My CARES Act Loans Taxable?

Passage of the CARES Act in March of 2020 brought some relief for businesses struggling amidst the coronavirus pandemic. Part of the funding was aimed directly at small businesses to help them retain employees. Businesses could apply for CARES Act loans and receive much-needed assistance. As we head into tax season and businesses look toContinue reading “Are My CARES Act Loans Taxable?”

How to Factor the Impact of COVID-19 on Your Business This Tax Season

The impacts of the COVID-19 pandemic were not limited to health risks. The business impacts of the pandemic were far-reaching. Between dramatic losses in revenue or needing to close for safety reasons, businesses had to reduce their employees, adapt their business models, or face permanent closure. The government passed various measures for businesses to offerContinue reading “How to Factor the Impact of COVID-19 on Your Business This Tax Season”

How To Start Paying your Household Employees Legally

If you have a household employee, it can be tempting to pay the employee under the table. Many household employees, such as nannies, can even expect their wages in this way. However, this poses a significant risk to both you and your employee. Not only is paying a household employee in cash illegal, but youContinue reading “How To Start Paying your Household Employees Legally”