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16 Sweet Cost-Cutting Measures for Businesses to Consider
Many small business owners are looking forward to the end of 2020. It's been a year of significant hardship and stress. But staying afloat remains a daunting challenge in 2021 and cost-cutting measures may be…
- Kirsch CPA Group
- Dec 17, 2020
Will Your Work-From-Home Policy Continue, Post-Covid-19?
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 employees…
- Kirsch CPA Group
- Dec 17, 2020
Contending With the Patchwork of State Requirements for Nonprofits
Not-for-profits are held to strict reporting standards. For instance, your organization is required to annually file Form 990 with the IRS to preserve your tax–exempt status, among other requirements. But reporting isn't limited to the federal…
- Kirsch CPA Group
- Dec 17, 2020
When It Comes to Trusts, Silence May Be Golden
The idea of leaving a significant inheritance to your children or grandchildren may give you pause. Could the promise of wealth make your heirs act financially irresponsible or reckless? Anticipating a cash cushion, will they neglect…
- Kirsch CPA Group
- Dec 17, 2020
Contractors: Act Now to Plug Cybersecurity Holes
The coronavirus pandemic has forced many construction companies to embrace a more distributed workforce. Employees who can work remotely are keeping connected with online and mobile technology. Meanwhile, team members on jobsites may be accessing…
- Kirsch CPA Group
- Dec 17, 2020
FAQs About COVID-19 Tax-Free Disaster Relief Payments
Many people are struggling to make ends meet during the COVID-19 pandemic. Fortunately, some individuals qualify for federal-income-tax-free disaster relief and disaster mitigation payments paid by some employers under Internal Revenue Code Section 139. Here…
- Kirsch CPA Group
- Dec 17, 2020
Is EEOC Enforcement Reform Coming?
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…
- Kirsch CPA Group
- Dec 17, 2020
Beware: Several CARES Act Tax Provisions Will Soon Expire
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…
- Kirsch CPA Group
- Dec 03, 2020
PPP Loan Not Forgiven? There’s a Safe Harbor for Deducting Expenses
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…
- Kirsch CPA Group
- Dec 03, 2020
Overtime Pay Rules for Fluctuating Workweeks
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…
- Kirsch CPA Group
- Dec 03, 2020
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