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Equipment Dealerships

New 1099 Nonemployee Compensation Tax Form for 2020 Tax Year

Business Tax Update: New 1099 Nonemployee Compensation Tax Form for 2020 Tax Year

By Sandy Sporleder | January 18, 2021
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Reading Time: 3 minutes
After a 38-year absence, Form 1099 Nonemployee Compensation Tax has made its return in the 2020 tax year, and its January 31 deadlines are right around the corner.  Don’t panic – here’s everything you need to know about the revived form, and how it is intended to be used. For …

Read moreBusiness Tax Update: New 1099 Nonemployee Compensation Tax Form for 2020 Tax Year

Meal and Entertainment Deductions

Business Tax Update: Many Meal and Entertainment Deductions Have Increased

By Sandy Sporleder | January 10, 2021
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Reading Time: 2 minutes
In an effort to provide additional stimulus funding, The Consolidated Appropriations Act was signed by the President on December 27, 2020.  Included in the guidance were changes to deductions for business meals in tax years 2021 and 2022. New Provisions include Higher Temporary Meal Deductions In an effort to stimulate …

Read moreBusiness Tax Update: Many Meal and Entertainment Deductions Have Increased

inventory fraud

Equipment Dealers Considering M&A Need to Follow New SBA Guidance for PPP

By K·Coe Editorial | October 5, 2020
Reading Time: 2 minutes
Any Paycheck Protection Program (PPP) borrower looking at a potential change in control (via actions of the shareholders or direct action by the PPP borrower) as well as those looking to acquire control of a PPP borrower, will need to follow new guidance, including Equipment Dealerships. Additionally, those looking to …

Read moreEquipment Dealers Considering M&A Need to Follow New SBA Guidance for PPP

PPP Applicants are Stuck Fighting Fraud due to Security Breaches

PPP Applicants are Stuck Fighting Fraud due to Security Breaches

By Pinion Editorial | September 25, 2020
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Reading Time: 2 minutes
In recent weeks, we have learned of an uptick in fraud cases for businesses who have applied for Paycheck Protection Program (PPP) funds for coronavirus disruption relief due to security breaches.  Businesses on the receiving end of this type of fraud have discovered it only after receiving an official document …

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MSL

Fed Provides Clarity on Main Street Lending Program for Small and Medium-size Businesses

By K·Coe Editorial | May 1, 2020
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Reading Time: 3 minutes
Following its release of the Main Street Lending (MSL) program three weeks ago, the Federal Reserve has issued more detail on guidance, answered Frequently Asked Questions (FAQs), and made some adjustments to the original scope of the program. “After listening to the press conference delivered by Fed Chair Powell, and …

Read moreFed Provides Clarity on Main Street Lending Program for Small and Medium-size Businesses

Employee Retention Tax Credit ERTC

CARES Act: Employee Retention Tax Credit is Available

By K·Coe Editorial | April 9, 2020
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Reading Time: 2 minutes
With all of the coverage and focus on the Paycheck Protection Program (PPP) loans, many businesses are unaware of the Employee Retention Tax Credit (ERTC) that is available under the CARES Act.  The ERTC was set up to help businesses retain employees.  There is a small catch, however:  a business …

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Lease Standard Delay

Don’t Pause on the Newly Announced Lease Standard Delay

By K·Coe Editorial | November 15, 2019
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Reading Time: < 1 minute
While it was good news for private companies following FASB’s recent announcement to delay the effective date to December 15, 2020 for standards on accounting for leases, businesses are being advised to keep working in high gear. “The delay is intended to allow preparers with limited resources to learn from …

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Family Business Coaching small business

IRS Issues Small Business Reminders

By K·Coe Editorial | May 13, 2019
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Reading Time: < 1 minute
‘Small Business Week’ prompted the IRS to publish reminders for entrepreneurs and businesses on how they can better estimate their tax situation and plan ahead.  There are some new credits available, and new guidelines as a result of the Tax Cuts and Jobs Act of 2017 that can help generate …

Read moreIRS Issues Small Business Reminders

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