Employee Retention Credit

The “CARES Act” establishes a tax credit for employers with fewer than 100 employees. The credit is 50% of qualified wages paid to employees, capped at $10,000 in qualified wages ($5,000 maximum credit). Eligible Employers must either have fully or partially suspended their operation during any calendar quarter in 2020 due to orders from an…

How to treat your business website costs for tax purposes

These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining the proper tax treatment for the costs involved in developing a website isn’t so easy. That’s because the IRS hasn’t released any official guidance on these costs yet. Consequently, you must apply…