by Betro and Company, PC | Apr 10, 2021 | Uncategorized
For tax year 2021, Congress is giving away billions of dollars in additional tax credits on your Form 1040 individual tax return. These temporarily expanded tax credits include the child tax credit, the dependent care credit, and the health insurance premium tax...
by Betro and Company, PC | Apr 9, 2021 | Uncategorized
With the Consolidated Appropriations Act, 2021, millions of small-business owners like you now qualify for the employee retention credit (ERC) thanks to three big changes: You can now obtain the ERC and the Paycheck Protection Program loan, but not on the same...
by Betro and Company, PC | Apr 8, 2021 | Uncategorized
You likely already know that the employee retention credit (ERC) is a good deal—if you qualify. Now, thanks to the recently enacted American Rescue Plan Act of 2021 (ARPA), you can qualify for up to $100,000 of ERC in the third and fourth quarters of 2021 if...
by Betro and Company, PC | Apr 7, 2021 | Uncategorized
First, say thanks to the Consolidated Appropriations Act, 2021 (CAA), enacted December 27, 2020. It opened the door (retroactively and going forward) for Paycheck Protection Program (PPP) participants to also claim the employee retention credit (ERC). Reminder. Tax...
by Betro and Company, PC | Apr 5, 2021 | Uncategorized
Members of the tax community struggle with the “solo corporate owner” qualification for the employee retention credit (ERC). In their recently published The Employee Retention Credit Guide, authors Alan S. Gassman, Brandon L. Ketron, Patrick D. Collins, and Ian...
by Betro and Company, PC | Apr 2, 2021 | Uncategorized
Good news. The PPP Extension Act of 2021 makes Paycheck Protection Program (PPP) monies available until the earlier of May 31, 2021, orwhen the money runs out. According to testimony before the Senate, the money could run out as early as mid-April. That’s just a few...
