Employee theft happens often enough for every business to be aware of. Whether your business is a one-employee medical office or a forty-employee retail outlet, owners should be on alert to the signs of embezzlement and fraud. Absentee business owners should be even more alert...
As CPAs, we are getting calls from clients that are being asked for additional verification from the IRS before refunds are paid. This can not only delay the anticipated refund but cause concern and additional paperwork in processing the verification request. This does not mean...
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...
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...
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...
October was a big month for DeHoek & Company! After decades in the downtown metro area of Grand Rapids, we relocated our offices. Our staff was phenomenal in making the move efficient and organized - no surprise there. Our new address is 2025 East Beltline Ave...