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ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, BY A CLIENT OR ANY OTHER PERSON OR ENTITY FOR THE PURPOSE OF (i) AVOIDING PENALTIES THAT MAY BE IMPOSED ON ANY TAXPAYER OR (ii) PROMOTING, MARKETING OR RECOMMENDING TO ANOTHER PARTY ANY MATTERS ADDRESSED HEREIN.
Author Archives: Carol
AFTER HURRICANE IAN: Casualty Losses to Residential Property
You or your family, friends or neighbors may have sustained damage to your homes from Hurricane Ian, which is known as a “casualty” event. The cost of repairing or replacing aspects of your home such as roofs, trees or shrubs … Continue reading
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Filing for the Employee Retention Tax Credit
I have received many client inquiries about the Employee Retention Credit (ERC), part of the relief package passed by Congress to help small businesses deal with the coronavirus pandemic. A refundable government tax credit, the ERC enabled employers to continue … Continue reading
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From Carol McAtee, CPA, Principal of McAtee & Associates, CPAs, PA
AFTER HURRICANE IAN:Casualty Losses to Business Property One of my previous blog posts covered casualty losses to residential property due to a Federally declared disaster like Ian. In this post, I am addressing casualty losses to business properties. The issues … Continue reading
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From Carol McAtee, CPA, principal of McAtee & Associates, CPAs, PA
Helping Employees with Hurricane Ian Recovery:Non-Taxable Disaster Relief Payments Many of my clients and associates are involved in the Hurricane Ian relief and recovery efforts in one way or another, through company or personal donations of money, supplies or volunteer … Continue reading
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From Carol McAtee, CPA, principal of McAtee & Associates, CPAs, PA
Tax Law Changes for Tax Year 2022: Ten Tax Law Changes You Should Know About The 2022 tax season is months away, but it’s a good time for you to be aware of some changes that may affect your 2022 personal … Continue reading
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RIOTS-20 Hillsborough County – Rebuild Community-Based Businesses Grant Program
BE ON THE LOOKOUT Broken. Burned. Vandalized. Looted. Repair. Rebuild. Restock. Reopen. Businesses that may be on the verge of thinking about recovering from months of executive-ordered shutdowns resulting from the global pandemic are now being victimized by domestic … Continue reading
Posted in Business, General Interest
Tagged #ACCPAS, Carol McAtee, Carol McAtee & Associates, CPA Firm, St. Petersburg Florida CPA
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COVID-19 Employer Payroll Tax Deferral UPDATED
Updated 06/05/2020 SBA PPP Loan Forgiveness recipients, upon Paycheck Protection Program Flexibility Act becoming law, can now defer the employer share of Social Security and Medicare payroll taxes incurred through the end of the year. Previously, SBA PPP Loan recipients … Continue reading
Posted in Accounting, Covid-19, Grants & Assistance, IRS, Payroll, Taxes
Tagged #ACCPAS, #COVID19, Carol McAtee, Carol McAtee & Associates, PPP, SBA Loans, St. Petersburg Florida CPA
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COVID-19 Congress Makes PPP Loan Forgiveness A Bit Easier!
Last week, on May 27, 2020 the House passed legislation, Paycheck Protection Program Flexibility Act, H.R. 7010, loosening the requirements for PPP loan forgiveness. Yesterday, the Senate, while not in full session, unanimously consented to the House version of the … Continue reading
Posted in Accounting, Business, Business Taxes, Covid-19, General Interest, Grants & Assistance, IRS, Payroll, Taxes
Tagged #ACCPAS, Carol McAtee, Carol McAtee & Associates, PPP, SBA Loans, St. Petersburg Florida CPA
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COVID-19 SBA PPP Legislative Update
Changing the PPP rules would be of great benefit across the board. Congress’ CARES Act was based on a two-month period. Congress did not anticipate or plan for many of the glitches and questions things that have unfolded since initial passage. Last week, … Continue reading
Posted in Accounting, Business, Business Taxes, Covid-19, General Interest, IRS, Taxes
Tagged #ACCPAS, Carol McAtee, Carol McAtee & Associates, IRS, PPP, SBA Loans, St. Petersburg Florida CPA
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The Disaster Preparedness Sales Tax Holiday is currently underway!
May 29 – June 4, these qualifying items will be exempt from sales tax: Any reusable ice pack selling for $10 or less. Any portable self-powered light source selling for $20 or less: Candles, flashlights, lanterns. Any gas or diesel … Continue reading
Posted in Business, General Interest, Holiday, Individual, Sales Tax, Taxes
Tagged #ACCPAS, Carol McAtee, Carol McAtee & Associates, PPP, Sales Tax, St. Petersburg Florida CPA
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