Small-business owners are often passionate about what they do and take great pride in the value or service their business offers. It’s likely they work long hours and spend ample mental time thinking about operations, employee retention, customer acquisition, human resources, and reducing liability. They often...
DeHoek & Company is proud to announce Jonathan DeHoek is a licensed Certified Public Accountant (CPA). Having completed his exams earlier this year, Jon received his CPA certificate and we could not be happier for him, Congratulations Jon! Jon’s responsibilities include business, individual, and non-profit tax return...
Many businesses that have been severely impacted by coronavirus (COVID-19) will qualify for two new employer tax credits – the Credit for Sick and Family Leave and the Employee Retention Credit. The FFCRA, as amended by the COVID-related Tax Relief Act of 2020, provides small and midsize employers...
The Employee Retention Tax Credit (ERTC) can greatly help businesses that suffered revenue loss from COVID-19. The ERTC was originally included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, but it was not widely used because initially, businesses could only take advantage of either...
[caption id="attachment_17305" align="alignright" width="200"] DANIEL R. DEHOEKManaging MemberCPA | ABV | CFP®[/caption] I have recently been asked about the 2nd or (1st for some) PPP loan and the Employee Retention Tax Credit. The PPP Program has been expanded It is possible to obtain a 2nd PPP loan if 1) you have...
On December 27, 2020, the Economic Aid Act (EAA) was signed into law to provide financial relief to small businesses suffering from the impact of the COVID-19 pandemic. The EAA amends the Paycheck Protection Program (PPP) that was established earlier this year under the CARES...
Leaving your job to start a home-based business is exciting, but it’s not for everyone. The secret ingredients to make a home-based business are vision, ambition, and self-discipline. Ingredients: Vision Ambition Self-discipline Business plan Business license and/or permits Business advisor Dedicated “work-only” space Computer Phone or VOIP...
[caption id="attachment_17062" align="alignright" width="180"] Dan DeHoekCPA | ABV | CFPDeHoek & Company, PLLC[/caption] On Dec. 28th, President Trump signed the $900 billion Covid-19 bill, which had passed both Houses of Congress a few days earlier. Generally, it means another $600 stimulus payment to individuals earning under...
As you check off your to-do list for the end of the year, don’t forget to look at your retirement savings. Whether it is an individual retirement account, an employer-sponsored plan like a 401(k), or a brokerage account, assessing your portfolio is crucial. There’s no better...
Businesses may be able to convert 2020’s red ink into cash with coronavirus tax breaks. KEY POINTS Business owners incur net operating losses when their tax deductions exceed income in a given year. Generally, these losses can offset future income. The CARES Act allows taxpayers to...