Category Archives: Uncategorized

Year End Tax Planning

In the last several years, we have seen major changes to the tax code under Congressional legislative actions. These include the Tax Cuts and Jobs Act in 2017, the Infrastructure Investment and Jobs Act in 2021 and, most recently, the … Continue reading

Posted in Uncategorized | Comments Off on Year End Tax Planning

Gift Giving and Your Tax Return

With the holiday season in full swing, it’s helpful to review how we can make financial gifts to family, friends and charities – and the possible tax advantages and consequences. Gifts to IndividualsUnder the annual “gift tax exclusion,” you can … Continue reading

Posted in Uncategorized | Comments Off on Gift Giving and Your Tax Return

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

Posted in Uncategorized | Comments Off on AFTER HURRICANE IAN: Casualty Losses to Residential Property

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

Posted in Uncategorized | Comments Off on Filing for the Employee Retention Tax Credit

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

Posted in Uncategorized | Comments Off on From Carol McAtee, CPA, Principal of McAtee & Associates, CPAs, PA

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

Posted in Uncategorized | Comments Off on From Carol McAtee, CPA, principal of McAtee & Associates, CPAs, PA

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

Posted in Uncategorized | Comments Off on From Carol McAtee, CPA, principal of McAtee & Associates, CPAs, PA

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 , , , , | Comments Off on RIOTS-20 Hillsborough County – Rebuild Community-Based Businesses Grant Program

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 , , , , , | Comments Off on COVID-19 Congress Makes PPP Loan Forgiveness A Bit Easier!

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 , , , , , , | Comments Off on COVID-19 SBA PPP Legislative Update