IRS Guidance on ‘No Tax on Tips’ Under OBBBA

IRS issues preliminary guidance on the OBBBA No Tax on Tips rule, outlining eligible occupations and new reporting requirements.

What Small Businesses Need to Do Now for R&D

Learn how 2024 R&D expensing changes impact small businesses under IRS Rev. Proc. 2025-28, with steps to maximize deductions or amortization.

OBBBA: Key Changes to the SALT Deduction Cap

The OBBBA raises the SALT deduction cap temporarily. See how these changes affect your taxes and why planning now can help minimize future liability.

The OBBBA to eliminate certain clean energy tax incentives

OBBBA accelerates the phaseout of clean energy tax breaks. See how changes impact solar, wind, EV credits, and energy-efficient upgrades.

Tax Legislation

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The American Rescue Plan Act: What’s in it for you?

President Biden has signed into law the 628-page The American Rescue Plan Act 2021 (ARPA), which includes $1.9 trillion in funding for individuals, businesses, and state and local...

New favorable PPP rules for self-employed

The U.S. Small Business Administration (SBA) issued new Paycheck Protection Program (PPP) rules that allow self-employed individuals who file Form 1040, Schedule C, Profit or Loss From...

White House announces PPP changes

The Biden-Harris administration announced several reforms to further target the Paycheck Protection Program (PPP) to the smallest businesses and those that have been left behind in...

Simplified PPP Loan Forgiveness Application

The US Small Business Administration (SBA) and Treasury have published updated Paycheck Protection Program (PPP) loan forgiveness guidance and forms, including a one-page application for...

PPP Round 2

Reopening of PPP Loan Program The SBA and Treasury announced that the new PPP will re-open the week of Jan. 11 with community financial institutions exclusively allowed to make first-draw...

PPP loan increases, reapplications open January 19, 2021

If you received a first-draw PPP loan approved by Aug. 8, 2020 that has not been forgiven, you may be able to amend your original application to request a PPP loan increase. Borrowers can...

Important PPP Changes and Guidance

IMPORTANT NOTE: On January 6, 2021 the SBA issued approximately 120 pages of new regulations regarding PPP loans. We have updated the below article on PPP Changes with significant new...

Business benefits of the Consolidated Appropriations Act

The Consolidated Appropriations Act of 2021 (CAA) was signed into law in late December. The sprawling legislation contains billions of dollars in additional stimulus funding in...

The CAA brings COVID-19 relief (and more) to individuals

The nearly 5,600-page Consolidated Appropriations Act (CAA) contains billions of dollars in long-awaited COVID-19 and economic relief and numerous other tax, payroll and retirement...

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