Protecting the Elderly from Con Artists
Even in normal times, elderly Americans are vulnerable to con artists. But the COVID-19 pandemic — which has disrupted most seniors' regular activities and cut many off from face-to-face contact with family — has raised…
- Kirsch CPA Group
- Jan 21, 2021
The Status of Temporary COVID Tax Relief Measures After the New Law
Before President Trump signed the latest economic stimulus law, several temporary COVID-19-related federal tax relief measures were set to expire on December 31, 2020. This article explains the current status of eight important temporary relief…
- Kirsch CPA Group
- Jan 21, 2021
PPP Loan Changes Included in the New Appropriations Act
The Consolidated Appropriations Act (CAA) extends, liberalizes and expands the Paycheck Protection Program (PPP). Originally established by the CARES Act, the PPP expired on August 8, 2020. Now the CAA resurrects it. Here are the…
- Kirsch CPA Group
- Jan 21, 2021
Ways to Fully Deduct Business-Related Meals
Restaurants have struggled mightily during the COVID-19 pandemic. Thankfully, they're specifically targeted for a new tax relief measure found in the massive Consolidated Appropriations Act (CAA), which became law on December 27, 2020. The new…
- Kirsch CPA Group
- Jan 21, 2021
Is Your Business Eligible for the Second Round of PPP Loans?
The second round of PPP loans is approved. Banks will begin accepting applications for second-time borrowers on January 13, 2021. Is your business eligible? Second-time PPP borrowers will apply using Form 2483-SD. To determine your…
- Kirsch CPA Group
- Jan 12, 2021
Adjusting to Manufacturing’s New Normal
The manufacturing industry's dependence on foreign suppliers, especially those in China, has caused concerns for many years. But the COVID-19 pandemic has put a spotlight on this issue, forcing some manufacturers to rethink their offshore…
- Kirsch CPA Group
- Jan 07, 2021
8 Accounting Practices for a Financially Healthy Construction Business
Construction accounting is different from the accounting practices of businesses that use only a general ledger. Because construction companies perform contract work and take on invoice-based jobs of varying sizes and durations, they must treat…
- Kirsch CPA Group
- Jan 07, 2021
When Should Not-for-Profit Organizations Return Donations?
A donor makes a cash contribution to a nonprofit community health organization. The donor itemizes income tax deductions and meets the IRS's substantiation requirements. So he's entitled to take a deduction for the donation. The…
- Kirsch CPA Group
- Jan 07, 2021
A Dozen New Year’s Resolutions for Small Business Owners
Have you made any New Year's resolutions for 2021? Resolutions usually take the form of personal goals like eating healthier or getting rid of clutter around the house. But you can also make New Year's…
- Kirsch CPA Group
- Jan 07, 2021
Appropriations Law Adds Some Business Tax Breaks and Extends Others
President Trump signed the Consolidated Appropriations Act (CAA) into law on December 27, 2020. The legislation adds a few new tax breaks for businesses and extends a bevy of other business breaks that were set…
- Kirsch CPA Group
- Jan 07, 2021