January 7, 2021 โ Most of the excitement from the Consolidated Appropriations Act (CAA) came from clarity on the deductibility of PPP expenses and the additional stimulus checks. However, Congress also passed a very favorable extension and...
Alex Helkamp, CPA, CCIFP
Recent Posts
December 22, 2020 โ This week, votes are being cast on two large measures put together by congressional leaders toward both a $900 billion Covid-19 relief bill and $1.4 trillion omnibus spending bill.
October 16, 2020 - In a special session on Oct. 15, the Minnesota State Legislature approved $208 million in tax relief by conforming to federal rules related to Section 179 expensing. Minnesota will now allow up to $1 million in annual Section...
What do you think of when you hear the term "R&D"? If you picture CAD drawings and beakers bubbling, you're not alone โ but research and development means a lot more types of work than you may imagine. In fact, your construction company might be...
August 7, 2020 - On August 4, the Small Business Administration (SBA) released additional FAQs on Paycheck Protection Program (PPP) loans. They include information applicable to business owners, independent contractors, self-employed individuals,...
UPDATED: June 18, 2020 - The SBA recently issued additional guidance regarding the Paycheck Protection Program (PPP), along with a revised loan forgiveness application and instructions. Click here for the revised application and here for the...
May 14, 2020 - In the constantly evolving world of PPP loan guidance, the SBA has released another Interim Final Rule (IFR) that provides guidance regarding PPP loan increases for certain partnerships and seasonal employers. Many PPP loans were...
March 31, 2020 - On Friday, March 27th, President Trump signed the CARES Act into law providing emergency assistance to individuals and businesses impacted by the coronavirus pandemic. In addition to emergency aid provisions, the $2 trillion bill...
January 22, 2019 โ The question of whether rental property is eligible for the new 20% pass-through deduction is a significant question within the new tax law. The recently released final regulations under IRC 199A, as well as an accompanying...
March 20, 2018 โ As part of the sweeping tax reform passed in December of 2017, there were substantial changes to the deductibility of both business meals and entertainment expenses. The changes for both of these provisions are effective for...
