This article has been superseded by this update: BUILD BACK BETTER ACT PASSES THE HOUSE OF REPRESENTATIVES Original 9/3/21 Article: The Biden Administration’s 3-part economic recovery plan proposal is known as the “Build Back Better agenda”. It has evolved quite a bit of the last few months but this is how it Read More…
Congress expanded the Paycheck Protection Program (PPP) established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act with the passage of the Consolidated Appropriations Act on December 27, 2020. The Consolidated Appropriations Act also clarifies the deductibility of certain expenses paid for with funds from a loan under PPP and tax impact on income Read More…
On Thursday, November 16, the US House of Representatives passed the Republican crafted tax reform bill by a 227 – 205 vote. That same day, the Senate Finance Committee approved its version of the Tax Cuts and Jobs Act, sending the bill to the full Senate for debate and a vote. The Senate is expected Read More…
On November 2, House Republicans unveiled their much-anticipated tax reform legislation, the Tax Cuts and Jobs Act (HR 1). The legislation seeks to dramatically cut taxes on corporations and consolidate benefits like personal exemptions, the standard deduction, and the child credit for individuals. It would eliminate the alternative minimum tax and estate tax, and Read More…
2016 Year-end Strategies for Businesses & Individuals: Straddling Two Years of Significant Changes. Click to read here.
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