business tax

2021 Tax Deadline Calendar

Reading Time: minute Note: The deadline for filing individual income tax returns was extended to May 17, 2021. It does not affect estimated quarterly tax payments that are still due on April 15, 2021.
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Employee Retention Credit FAQs

Reading Time: 2 minute What Is the Employee Retention Credit & How to Claim It For 2021 The employee retention credit (ERC) was first introduced with the CARES Act in 2020, and subsequent tax bills have made the credit...
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Advantages & Disadvantages of S Corporations

Reading Time: 3 minute Whether you are setting up a new company or you have been in business for years, you need to evaluate which legal structure is best for your enterprise. No one option is best for every type of...
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R&D Tax Credit for Manufacturing Companies

Reading Time: 3 minute In general, manufacturing companies are great candidates for the various tax credits the Internal Revenue Service (IRS) offers. One of the most popular is the Research and Development (R&D) Tax...
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What are the Pros and Cons of Roth IRAs?

Reading Time: 3 minute Learn about the Pros and Cons of Roth IRAs Saving for retirement is important, and the sooner you start planning, the better. Even though Roth IRAs have been around for more than a decade, many...
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Year-end Financial Planning for Business Owners

Reading Time: 2 minute It is that time of the year again to start planning for the end of the year. As the person responsible for your company’s financial management, there are many year-end tasks that you need to oversee....
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IRS Formally Clarifies PPP Expense Position

Reading Time: 1 minute The IRS issued Revenue Ruling 2020-27 on November 18th, formally denying the ability to deduct expenses related to PPP forgiveness. In the ruling, the IRS clarified the deduction for PPP expenditures...
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Section 179: Minnesota Passes Conformity for 2020

Reading Time: 1 minute Minnesota passed a bipartisan tax and bonding bill recently that included full conformity for all Section 179 expensing for tax years beginning in 2020. Additionally, the bill included retroactive...
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