The CARES Act: Rebates

2022 – 09/20 “We love our customers!” Many businesses proclaim this at the bottom of their invoices, in their marketing materials and even on the very walls of their physical locations. Obviously, every company needs a solid customer or client base to survive. But, to truly thrive, you need to evaluate which customers are reliably…

2020 – 09/21 The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when Internet website costs can be deducted. Fortunately, established rules that generally apply to the deductibility of business costs, and IRS guidance that applies to software costs, provide business taxpayers launching a website with some…

2020 – 09/02 Wouldn’t it be great if your employees worked as if they owned the company? An employee stock ownership plan (ESOP) could make this a reality. Under an ESOP, employee participants take part ownership of the business through a retirement savings arrangement. Meanwhile, the business and its existing owner(s) can benefit from some…

2020 – 05/14 The IRS’s “People First Initiative” was set up to give taxpayers relief during the novel coronavirus (COVID-19) crisis. The relief (much of it previously announced) covers a variety of issues from easing payment guidelines to delaying compliance actions. It also involves extending many filing and payment deadlines to July 15. For example,…

2020 – 11/23 S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because shareholders in a C corporation generally get no tax benefit from such losses. Conversely, as an S corporation shareholder, you can deduct…