Yesterday the Internal Revenue Service announced that the deadline for federal income tax filings and payments has been extended to May 17, 2021. The normal deadline is April 15.
Growing and running a business is hard (especially in the middle of a global pandemic). In the latest episodes of the firm’s video series, Next Level, Bryna Campbell, CPA, Shante Fields and Kat Sabo shared some of their top advice for businesses in 2021. Here are just a few of the takeaways from each of their interviews.
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On March 11, 2021, President Biden signed the American Rescue Plan into law. This $1.9 trillion COVID relief bill contains several tax provisions. Here are the highlights for individuals and businesses.
Maryland Governor Larry Hogan signed the RELIEF Act into law on February 15, 2021. The RELIEF Act is intended to help reverse some of the adverse economic conditions brought about by the COVID-19 pandemic. This legislation includes changes to personal and business tax filings, relief payments for certain individuals, a sales and use tax credit, and changes to pass-through entity taxation. Let’s look more closely at some of the key provisions in the $1 billion plus relief package.
They are the last words any business owner wants to hear: “You are being audited by the IRS.”
Many businesses are wondering how they’ll survive 2021. When Len Rus, CPA, joined me on the firm’s video series, Next Level, he shared his advice for business owners on making it through what’s looking like another crazy year.