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ALERTS AND ARTICLES
Stay up to date with the most recent industry news and what’s happening at Topel Forman
Didn’t contribute to an IRA last year? There still may be time (February 11, 2021)
Saving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2020 tax return.
Many tax amounts affecting businesses have increased for 2021 (February 11, 2021)
How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they contribute to 401(k) plans this year? Here are the answers to these and other questions about tax-related inflation adjustments and changes affecting businesses.
2021 individual taxes: Answers to your questions about limits (February 9, 2021)
How much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other tax-related amounts for 2021.
The power of the tax credit for buying an electric vehicle (February 3, 2021)
Although electric vehicles are a small percentage of the cars on the road today, they’re increasing in popularity. And if you buy one, you may be eligible for a federal tax break. The tax code provides a credit to purchasers of qualifying plug-in electric drive motor vehicles including passenger cars and light trucks. The credit is equal to $2,500 plus an additional amount, based on battery capacity, that can’t exceed $5,000. Therefore, the maximum credit is $7,500. There are a number of requirements to qualify and the credit may not be available because of a per-manufacturer cumulative sales limitation. (Tesla and GM vehicles are no longer eligible.) Contact us if you want more information.
Tax Alert: Additional Highlights from the Consolidated Appropriations Act (January 26, 2021)
This tax alert focuses on additional updates from the Consolidated Appropriations Act (CAA) that may be beneficial to you and your business.
Tax Alert: Payroll Protection Program 2 – A Second Bite at The Apple (January 14, 2021)
The Consolidated Appropriations Act allows qualifying businesses to take a second round of Payroll Protection Program (“PPP”) loans.
Tax Alert: Employee Retention Credit May Provide Benefits to Your Business (January 7, 2021)
The new Consolidated Appropriations Act updated the CARES Act to provide expanded benefit changes to the Employee Retention Credit (ERC).
Tax Alert: New Law Clarifies Tax Treatment of PPP Loan Forgiveness (December 30, 2021)
What does the new Consolidated Appropriations Act mean for the tax treatment of PPP loans for businesses and individuals?
Timing Considerations for Potential Gift and Estate Tax Legislative Reform under a Biden Administration (December 1, 2020)
Tax alert on the blog: When will the Biden Administration's tax reform be enacted, and on what date will that tax reform be applied?
Review of Biden’s Tax Proposals (November 12, 2020)
In this tax alert, we outline significant changes that could take place according to Biden's tax proposals.
What do the 2021 cost-of-living adjustment numbers mean for you? (November 3, 2020)
Consider these 2021 cost-of-living adjustments as you complete year-end tax planning and plan for next year.
Year-end tax planning strategies must take business turbulence into account (October 27, 2020)
As 2020 winds down, it’s time for businesses to take stock of their tax situations and implement year-end tax planning strategies.
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Didn’t contribute to an IRA last year? There still may be time (February 11, 2021)
Saving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2020 tax return.
Many tax amounts affecting businesses have increased for 2021 (February 11, 2021)
How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they contribute to 401(k) plans this year? Here are the answers to these and other questions about tax-related inflation adjustments and changes affecting businesses.
2021 individual taxes: Answers to your questions about limits (February 9, 2021)
How much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other tax-related amounts for 2021.
The power of the tax credit for buying an electric vehicle (February 3, 2021)
Although electric vehicles are a small percentage of the cars on the road today, they’re increasing in popularity. And if you buy one, you may be eligible for a federal tax break. The tax code provides a credit to purchasers of qualifying plug-in electric drive motor vehicles including passenger cars and light trucks. The credit is equal to $2,500 plus an additional amount, based on battery capacity, that can’t exceed $5,000. Therefore, the maximum credit is $7,500. There are a number of requirements to qualify and the credit may not be available because of a per-manufacturer cumulative sales limitation. (Tesla and GM vehicles are no longer eligible.) Contact us if you want more information.
Tax Alert: Additional Highlights from the Consolidated Appropriations Act (January 26, 2021)
This tax alert focuses on additional updates from the Consolidated Appropriations Act (CAA) that may be beneficial to you and your business.
Tax Alert: Payroll Protection Program 2 – A Second Bite at The Apple (January 14, 2021)
The Consolidated Appropriations Act allows qualifying businesses to take a second round of Payroll Protection Program (“PPP”) loans.
Tax Alert: Employee Retention Credit May Provide Benefits to Your Business (January 7, 2021)
The new Consolidated Appropriations Act updated the CARES Act to provide expanded benefit changes to the Employee Retention Credit (ERC).
Tax Alert: New Law Clarifies Tax Treatment of PPP Loan Forgiveness (December 30, 2021)
What does the new Consolidated Appropriations Act mean for the tax treatment of PPP loans for businesses and individuals?
Timing Considerations for Potential Gift and Estate Tax Legislative Reform under a Biden Administration (December 1, 2020)
Tax alert on the blog: When will the Biden Administration's tax reform be enacted, and on what date will that tax reform be applied?
Review of Biden’s Tax Proposals (November 12, 2020)
In this tax alert, we outline significant changes that could take place according to Biden's tax proposals.
What do the 2021 cost-of-living adjustment numbers mean for you? (November 3, 2020)
Consider these 2021 cost-of-living adjustments as you complete year-end tax planning and plan for next year.
Year-end tax planning strategies must take business turbulence into account (October 27, 2020)
As 2020 winds down, it’s time for businesses to take stock of their tax situations and implement year-end tax planning strategies.
No results found.
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