Certified Public Accountants
On May 13, 2021, the Nevada Supreme Court upheld a decision that the biennial Modified Business Tax rate adjustment was unconstitutional and ordered the Nevada Department of Taxation to refund any overpayment of the Modified Business Tax plus interest to businesses. The Department is developing a plan to reduce the Modified Business Tax rate for…
Recently, there were changes made to the child tax credit that will benefit many taxpayers. As part of the American Rescue Plan Act that was enacted in March 2021, the child tax credit: Amount has increased for certain taxpayers Is fully refundable (meaning you can receive it even if you don’t owe the IRS) May…
The U.S. Small Business Administration (SBA) recently announced a major update to the COVID-19 Economic Injury Disaster Loan (EIDL) program. As of the week of April 6, 2021, the maximum loan amount for COVID-19 EIDLs will increase to $500,000. Under the CARES Act, the EIDL program was expanded to cover eligible businesses experiencing substantial economic…
The U.S. Small Business Administration (SBA) recently announced a major update to the COVID-19 Economic Injury Disaster Loan (EIDL) program. As of the week of April 6, 2021, the maximum loan amount for COVID-19 EIDLs will increase to $500,000. Under the CARES Act, the EIDL program was expanded to cover eligible businesses experiencing substantial economic…
Despite the struggles many felt throughout the pandemic, wave after wave of charitable giving continued to role in. In fact, according to Fidelity Charitable reports, in 2020 there was an 11% increase in donations for the 500 clients surveyed. From monetary donations to food and clothing and random acts of kindness, 2020 will go on…
Out of the coronavirus pandemic has resulted a year-long flurry of legislation seeking to respond to the havoc wreaked by the crisis. A recent article from The NonProfit Times offers a succinct overview of the items included in the various bills that have an impact on nonprofit organizations. To learn about how nonprofits will benefit from new…
