On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law. The CAA, 2021 Act greatly expanded the Employee Retention Credit (ERC). The credit is now available to more businesses and extends the date for wages paid through June 30, 2021. Under the CARES Act, the ERC was available to qualified Read More…
The federal R&D tax credit benefits large and small companies in nearly every industry. Common questions and answers related to the R&D tax credit and those specific to small businesses are outlined below. What is the R&D tax credit? Created in 1981 to stimulate research and development (R&D) in the United States, the R&D tax credit is Read More…
On August 4, 2020, the U.S. Small Business Administration (SBA), in consultation with the Treasury, released frequently asked questions (FAQs), on the Paycheck Protection Program (PPP) related to PPP Loan Forgiveness. The publication is divided into four sections addressing different aspects of the process to determine how much of their loan is forgivable. The following Read More…
Programs Available Under the CARES Act From Main St. to Wall St., all businesses have been affected by COVID-19 in one way or another. Businesses that were considered to be essential service business were affected by employees being unable to work due to their need to care for their children, who were now home from Read More…
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On September 2nd, Governor Christie signed an executive order, which would be effective on January 1, 2017, ending the Wage Reciprocity Agreement between New Jersey and Pennsylvania. That order would have forced New Jersey residents working in Pennsylvania (and vice versa) to file both a resident tax return and a non-resident tax return, because the Read More…
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