Entries by John Dillard

Unemployment Tax Law Changes

March 23, 2021 in /by

Unemployment Taxability Changes The American Rescue Plan signed March 11, 2021 allows each U.S. Taxpayer (does not apply to non-residents) to exclude in 2020 up to 10,200 of Unemployment from their taxable income as long as your Adjusted Gross Income is less than $150K. “If you have already filed your 2020 Form 1040 or 1040-SR, […]

The Employee Retention Credit

March 8, 2021 in /by

The Employee Retention Credit Recent tax law changes have broadened the Employee Retention Credit to businesses. It is my understanding these changes relate to businesses that were either: -Forced to close due to Government Order (a non-essential service).  -Gross Receipts fell when comparing to the same quarter in 2019 (by over 50% in 2020 or […]

Dear Washington D.C.

January 24, 2021 in /by

Dear Washington D.C. This is on my mind.How about you? I am making this post so it will show back up as a future memory on my timeline. This isn’t a political dispute. I am genuinely curious what the next 4 years will bring: Today is 1 day until the Biden/Harris Inauguration. Gas is currently […]

Highlights of Round 2 of the Paychex Protection Program

December 29, 2020 in /by

Highlights of Round 2 of the Paychex Protection Program Hot off the Press….are Highlights of Round 2 of the Paychex Protection Program including: -Expanded list of covered expenses including software that facilitate business operations and payroll processing fees. -Ability to obtain a 2nd PPP Loan based upon the “necessity requirement” requiring borrowers to certify “current economic […]