CPA insights and tips for law firms

IRS Presses Pause on Employee Retention Credit Claims

Counsel

Jul 81 min read

IRS Presses Pause on Employee Retention Credit Claims

The IRS announced this week a temporary pause in processing new Employee Retention Credit claims through at least the end of 2023. IRS...

Is your California law firm in compliance with the new Client Trust Account Protection Program?

Counsel

Jul 81 min read

Is your California law firm in compliance with the new Client Trust Account Protection Program?

Is your California law firm in compliance with the new Client Trust Account Protection Program (CTAPP)? From The State Bar of California:...

LAW FIRMS: ANNUAL LICENSE RENEWAL AND MINIMUM CONTINUING LEGAL EDUCATION

Counsel

Jul 82 min read

LAW FIRMS: ANNUAL LICENSE RENEWAL AND MINIMUM CONTINUING LEGAL EDUCATION

License renewal for the 2023 State Bar of California began December 1, 2022 with the deadline to file on February 1, 2023. According to...

Counsel

Jul 81 min read

LET’S TALK 1099S!

All businesses are required to issue Form 1099-MISC or Form 1099-NEC to relevant vendors, freelancers, and contractors, as well as file...

Counsel

Jul 82 min read

TAX LOOPHOLE: THE AUGUSTA RULE

Did you know that you can rent out your home for up to 14 days per year without needing to report the rental income on your individual...

EMPLOYEE RETENTION CREDIT: UP TO $26,000 PER EMPLOYEE FROM THE IRS? YES, PLEASE.

Counsel

Jul 82 min read

EMPLOYEE RETENTION CREDIT: UP TO $26,000 PER EMPLOYEE FROM THE IRS? YES, PLEASE.

The Employee Retention Credit (ERC) has been infusing small to mid-sized businesses with cash across the country since it was passed...

FILING YOUR TAXES BY APRIL DEADLINE IS A GOOD IDEA

Counsel

Jul 82 min read

FILING YOUR TAXES BY APRIL DEADLINE IS A GOOD IDEA

What do they say? Taxes are one of the only certainties in life? We file our taxes every year, but why do so many of us put it off until...

DEFERMENT PERIOD FOR DISASTER LOANS EXTENDED

Counsel

Jul 82 min read

DEFERMENT PERIOD FOR DISASTER LOANS EXTENDED

With the upheaval of the last few years, millions of small businesses have taken advantage of Covid-related relief funds to stay afloat....

INFORMATION LETTERS FROM THE IRS ARE GOING OUT

Counsel

Jul 83 min read

INFORMATION LETTERS FROM THE IRS ARE GOING OUT

The Internal Revenue Service has announced that it will be issuing information letters to Advance Child Tax Credit recipients. Letters...

EMPLOYERS REQUIRED TO PROVIDE 401(K) TO EMPLOYEES BY JUNE 2022

Counsel

Jul 81 min read

EMPLOYERS REQUIRED TO PROVIDE 401(K) TO EMPLOYEES BY JUNE 2022

The state of California has initiated a mandate to assist private sector employees with saving for retirement through their job by...

EMPLOYEE RETENTION CREDIT AXED FOR FOURTH QUATER

Counsel

Jul 81 min read

EMPLOYEE RETENTION CREDIT AXED FOR FOURTH QUATER

The Employee Retention Credit, which has been infusing businesses with cash that have been affected by the Covid-19 pandemic, is due to...

Counsel

Jul 82 min read

ERTC, MONEY, MONEY, MONEY!

I bet your business could use an influx of cash. What if you could get up to $33,000 from the IRS for each employee, and all you had to...

Counsel

Jul 81 min read

CALIFORNIA COMES THROUGH!

After months of anticipation, Governor Newsom announced this week that California will conform with IRS regulations making deducibility...

Counsel

Jul 82 min read

ECONOMIC RELIEF CONTINUES

With Covid-19 cases down significantly in California and restrictions on businesses lifting, there is still a long way to go to get our...

GOOD NEWS/BAD NEWS – TAX DEADLINE EXTENDED

Counsel

Jul 81 min read

GOOD NEWS/BAD NEWS – TAX DEADLINE EXTENDED

Good news! The IRS has formally announced that the 2020 filing deadline for individual taxpayers has been extended from April 15 to May...

Counsel

Jul 82 min read

THE AMERICAN RESCUE PLAN

The American Rescue Plan Act of 2021 has been signed by President Biden and is now law. The latest stimulus package is designed to...

TIME TO START THINKING ABOUT FIRST DRAW PPP LOAN FORGIVENESS

Counsel

Jul 82 min read

TIME TO START THINKING ABOUT FIRST DRAW PPP LOAN FORGIVENESS

We are a year into the Covid-19 pandemic, a year into stay-at-home orders and shutdowns – all of which have dramatically affected our...

Counsel

Jul 81 min read

SCHEDULE C FILERS, REJOICE!

The SBA issued new Paycheck Protection Program guidelines allowing those that are self-employed and file Form 1040, Schedule C to...

Counsel

Jul 81 min read

PPP SECOND DRAW LOANS

Loan applications through the Payroll Protection Program will soon be available to all small businesses. If you or your business received...

Counsel

Jul 83 min read

CALIFORNIA RELIEF GRANT PROGRAM

A new grant program, funded by the state of California, rolls out today. The grant, which is available to small businesses in California,...

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