Business Tax

Employee retention credit: Opportunities remain

The employee retention credit was created in March 2020, but changing requirements have caused some confusion over eligibility. It’s important for businesses and their tax preparers to know who can take the credit and how much relief they can receive.

Safe harbor for ERC gross-receipts test

The IRS issued a safe harbor that allows an employer to exclude certain amounts received from other coronavirus economic relief programs in determining whether it qualifies for the employee retention credit based on a decline in gross receipts

W-2 wages and Sec. 199A

Finding the “sweet spot” to maximize the qualified business income deduction may involve adjusting a business’s workforce.

The pros and cons of LLCs

Here are several key characteristics CPAs need to know about limited liability companies and how they compare with other entities.

PEO is statutory employer

The Tax Court allows a refund of overpaid Social Security taxes to professional employer organization Paychex.

Where to find June’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

SPONSORED REPORT

Better decision-making with data analytics

Data analytics has become a hot topic, but many organizations have not yet managed to understand its potential, let alone put it to work. This report will take a deep-dive on how to best introduce or enhance the use of data in decision-making.