Tax for Private Businesses

The Internal Revenue Service has announced an extended deadline for both federal income tax filings and payments. Any taxpayer with a payment due on April 15, 2020, is considered to be affected by COVID-19 and eligible for this relief. California recently announced similar tax extensions. Download PDF > Postponed Federal Filing and Payment Dates The […]

The recording is now available of our April 10 webinar about the Small Business Administration’s Paycheck Protection Program (PPP) Loan, created by the recent CARES Act. We are pleased to make it available to you at the link below. Watch the Recorded Webinar > Recording Password: QjAi9imJ Seiler Partners Erin Hastings and Ron LaVelle presented […]

Under the CARES Act, the federal government expanded a loan program to businesses to cover employee payroll, mortgage interest, rent, and utilities expenses. A prominent feature is that all or part of the loan is potentially forgivable, provided funds are used for specific purposes. Sufficient documentation to substantiate the application is required. Who can apply? […]

Two major pieces of legislation – the Families First Coronavirus Response Act and the CARES Act – have been passed to help individuals and businesses during the coronavirus (COVID-19) outbreak. Here is our summary of highlights from both pieces of legislation. Download PDF > 1) The Families First Coronavirus Response Act (FFCRA) Among other things, […]

In late December 2019, the President signed into law the Further Consolidated Appropriations Act, 2020 (“FCAA”). The legislation extends certain income tax provisions that had expired, as well as some that were due to expire at the end of 2019. Congress traditionally passes so-called “extenders” annually, but it neglected to do so for 2018. As […]

With the dust still settling from major tax changes resulting from the Tax Cuts and Jobs Act of 2017 (TCJA), many questions remain around previous strategies and the potential for more changes in the future. In this end-of-year summary, we’ve highlighted the most pertinent information to help you plan for 2019 taxes and beyond, including: […]

As a follow-up to the ongoing discussion of the Tax Cuts and Jobs Act’s qualified business income deduction, we’re diving in-depth on how rental real estate income may qualify as QBI under Section 199A. Download Now Overview of the QBI Pass-through Deduction As a brief review, the TCJA offers a tax deduction of 20% of […]

In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the […]

The 2017 tax filing due date may have passed, but businesses and individuals are still at risk of becoming identity theft victims. We’ll show you common tax-related scams and how to protect yourself and your company. Download PDF What is tax-related identity theft? Tax-related identity theft typically occurs by a thief using a stolen social […]

On February 9, President Trump signed the Bipartisan Budget Act of 2018 (BBA), ending a brief government shutdown. This 2-year budget contains a host of tax law changes.  We have highlighted the primary areas the bill covers below. Download PDF Tax Extenders Retroactive through 2017 The BBA extends for one year a set of tax […]