Author: Kirsch CPA Group

Although the Equal Opportunity Employment Commission (EEOC) is intended to be nonpartisan, run by a five-member Commission, a president can appoint a new chairman and vice-chairman when their terms expire. Currently, both of those positions Read More

The CARES Act granted several valuable federal tax breaks for individuals and businesses. But most will expire at the end of 2020 or at the end of tax years that begin in 2020. Here's a Read More

The IRS recently issued guidance that provides a safe harbor allowing certain taxpayers to claim a deduction in 2020 for some otherwise deductible eligible expenses if the taxpayers received Paycheck Protection Program (PPP) loans. (Revenue Read More

If you pay employees who are nonexempt and who have fluctuating workweeks, there's a formula you can use to calculate their overtime pay. The formula is laid out in newly revised U.S. Department of Labor Read More

If your business is in a position to acquire equipment or machinery, management faces a tough decision: Should you lease it, or should you buy it? There's no universal "right" answer. Here are some factors Read More

Most people aren't currently exposed to the federal estate tax, thanks to the generous unified federal estate and gift tax exemptions. However, there are still good reasons to review your estate plan and possibly update Read More

Earlier this year, employers were polled by Mercer, a global benefits consulting service, to give their preliminary thinking about flexible work arrangements in a post-pandemic environment. Their answers suggest that, in some cases, companies with Read More

On November 18, the IRS published long-awaited guidance regarding PPP forgiveness and the deductibility of expenses paid with PPP loan proceeds. For most taxpayers, this means that expenses paid with PPP funds will be nondeductible Read More

Historically, companies have downsized for many reasons, including mergers and acquisitions, changes in management philosophy and strategy, and increased use of outsourcing. Economic downturns have also spurred layoffs, such as the one triggered by the Read More

From an employer perspective, using independent contractors provides greater flexibility in managing variable demands for particular services. And, frequently, those services can be obtained more economically because independent contractors don't receive employee benefits, nor are Read More