Business Owner

A New Boss is in the (White) House: Possible Tax Changes that Could Affect Multinationals Doing Business in the U.S.

As the dust settles from an ugly political season, the inauguration of Joe Biden as the new U.S. president set in motion what many believe will be tax law changes that could impact multinational corporations doing business in the U.S. With Mr. Biden’s Democrat party maintaining its majority in... Read more

CAA Extends the Employee Retention Credit to More Struggling Businesses

The $900 billion Consolidated Appropriations Act, 2021 (CAA), which became law in December, provides additional pandemic-related financial relief to individuals and small businesses and addresses the disputed tax deductibility of business expenses paid with forgiven loans. Of particular interest to businesses are the changes the CAA makes to the... Read more

New Legislation Provides More Forgivable Loans to Small Businesses and Other Tax Benefits

The President has signed into law the $900 billion Consolidated Appropriations Act, 2021 (CAA). It provides one-time relief payments to adults and children, adds to extended weekly unemployment benefits, and provides aid for small businesses with new Paycheck Protection Program (PPP) funding, along with a number of other targeted... Read more

CARES Act Revisited: Expenses Paid with PPP Loan Now Deductible

Just in time to throw our year-end tax planning on its head, Congress overwhelmingly passed a $900 billion COVID-19 relief bill just before midnight on Monday that ensures tax deductibility for business expenses paid with forgiven Paycheck Protection Program (PPP) loans. The legislation, the Consolidated Appropriations Act, 2021, also provides $600 stimulus... Read more