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OUR BLOG

We share the latest developments in
the accounting industry & our business.

Updates Regarding the $10,200 Unemployment Income Exemption for 2020

By Gregory Bilecki, Senior Accountant On Wednesday, March 24th, the IRS released guidance centered around the $10,200 unemployment income exemption provision per terms of H.R. 1139, more commonly known as
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for-main-street-businesses-ppp-relief-is-now-within-reach

PPP Program Extended Through May 31st

By Gregory Bilecki, Senior Accountant In yet another landmark decision, on Thursday, March 25th, the Senate passed House bill H.R. 1799, also known as the PPP Extension Act of 2021
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NJ, NY, PA Now Following Federal Tax Day Deadline Extension, Now May 17th

NJ, NY, PA Now Following Federal Tax Day Deadline Extension, Now May 17th

By Gregory Bilecki, Senior Accountant In welcome news for the state’s taxpayers, New Jersey has decided to follow the IRS’s decision to extend the federal April 15th tax reporting deadline
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IRS-Extends-Federal-Tax-Day-Filing-Deadline-for-One-Month

IRS Extends Federal Tax Day Filing Deadline for One Month

By Gregory Bilecki, Senior Accountant On Wednesday, March 17th, the IRS pushed back the tax filing deadline for individuals in a nationwide extension, an effort to further drive pandemic related
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Restaurant-Revitalization-Fund

$29B Stimulus Creates the Restaurant Revitalization Fund

By Gregory Bilecki, Senior Accountant As part of the stimulus package signed by President Biden on March 11th, 2021, additional stimulus money was set aside in the amount of $29
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Key-Facts-from-the-March-2021-$1.9-Trillion-COVID-19-Stimulus-Package

Key Facts from the March 2021 $1.9 Trillion COVID-19 Stimulus Package

By Gregory Bilecki, Senior Accountant What’s Included in the Third Stimulus Package? Signed by President Biden Thursday, March 11th, is the next round of COVID-19 relief, H.R. 1319, also known
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does-my-business-qualify-for-the-employee-retention-tax-credit-in-2021

Does My Business Qualify for the Employee Retention Tax Credit In 2021?

By Michael Aaron, CPA, Tax Supervisor & Gregory Bilecki, Senior Accountant   For the 2020 filing year we’ve seen many updates to CARES Act provisions expanded upon by the Consolidated Appropriations
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for-main-street-businesses-ppp-relief-is-now-within-reach

For Main Street Businesses, PPP Relief is Now Within Reach

By Gregory Bilecki, Senior Accountant PPP Relief for Small Businesses In a recent measure which took effect on February 24th that largely affects small businesses, the Biden Administration announced they
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new-partnership-tax-basis-capital-reporting-requirements-for-2020

An Overview of the New Partnership Tax Basis Capital Reporting Requirements For 2020

By Dolly Rajani, Tax Supervisor, CPA On October 22, 2020, the IRS released draft instructions for Form 1065, US Return of Partnership Income that included revised instructions which require partnerships
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revisiting-form-8829

Revisiting Form 8829 – Business Use of Home Expenses for 2020

By Dolly Rajani, Tax Supervisor, CPA 2020 is especially unique with respect to this deduction since COVID-19 has altered employee workspaces forever it seems. The primary office for many employees
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