To get my complete, FREE articlewith all the details… Did you start a new business after February 15, 2020? If yes, then you may be eligible for a hefty “employee retention credit” (ERC). And what an ERC! The credit is worth up to $100,000 for the third and fourth calendar quarters of 2021! A case study: How Henry and Heide came out winners.And how you can come … [Read more...]
Tax Policy
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When is a Partner in a Partnership Considered a 1099 Worker?
To get my complete, FREE articlewith all the details… Can you answer these two important questionsabout your partnership agreement?… Does your agreement spell out exactly when a partner can deduct unreimbursed partner activity (UPE)?Is your agreement crystal clear about when your partnership can treat some partner activity as if the partner were a 1099 worker? Why … [Read more...]
Say Goodbye to the ERC for the Fourth Quarter
To get my complete, FREE articlewith all the details… Now you see it. Now you don’t. I’m talking about the employee retention credit (ERC). Here’s the sad story of the ERC’s repeal… As you may remember, back in April 2020, the ERC was adopted as part of the Coronavirus Aid, Relief, and Economic Security Act. This important legislation was extremely helpful. … [Read more...]
The IRS War Against Independent Contractors: An Update
To get my complete, FREE articlewith all the details… It’s a fact every business owner and independent contractor should know… Many state and federal agencies may have you in their cross hairs. They’re going after businesses that hire “independent contractors” rather than “employees.” Why? Because, unlike independent contractors, W-2 employees prepay their taxes. … [Read more...]
Raise Hell! Your Employee Retention Credit (ERC) Is at Risk
To get my complete, FREE articlewith all the details… Leave it to the IRS to find a new way to hurt S and C corporations. The IRS wants to cause you pain. Here’s how… The new IRS Notice 2021-49 disallows the valuable employees tax credit (ERC) to more-than-50% owners… owners who have certain living relatives. That’s right. Your corporation can’t qualify for the … [Read more...]