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ERC Updates

Posted on: July 8, 2021

2020 & 2021 ERC credits are trickling in.   The IRS has confirmed they are in Processing, but no time line is available. Q3 and Q4 ERC The only qualifications left to qualify for the ERC for Q3 and Q4 are: 1. 2021 Q2 revenue declined by 20% or more compared to Q2 of 2019 *If … Continue reading ERC Updates

Maryland and Virginia Unemployment Insurance Fraud

Posted on: July 7, 2021

MARYLAND Maryland and Virginia, as well as many other States are reporting a high amount of fraudulent Unemployment Claims. If you receive a fraudulent claim, Maryland has setup instructions in order for you to report this. If fraudulent claims go unprotested, we will all see an increase in unemployment rates. In addition, your individual rate … Continue reading Maryland and Virginia Unemployment Insurance Fraud

Maryland Released Form 511 – Extended Pass-Through Entities’ Deadline to September 15th

Posted on: July 1, 2021

The long-awaited Maryland Form 511 has finally arrived. Yesterday, the Maryland Comptroller released the Pass-Through Entity Election Income Tax Return—along with instructions—for filing pass-through entity (PTE) returns for 2020 for those filers that elect to pay Maryland tax at the entity level. The form is used to both report the current year income and remit … Continue reading Maryland Released Form 511 – Extended Pass-Through Entities’ Deadline to September 15th

IRS 2019 Form W-4 Represents Major Changes to Payroll

Posted on: September 13, 2018

On June 6, 2018, the Internal Revenue Service (IRS) released a draft Form W-4, Employee’s Withholding Allowance Certificate, for 2019. The Tax Cuts and Jobs Act (TCJA) made significant changes to tax rates, deductions, tax credits, and withholding calculations. Highlights of the Draft Form W-4 for 2019 Number of Allowances Eliminated Perhaps the most prominent … Continue reading IRS 2019 Form W-4 Represents Major Changes to Payroll

Employee vs Subcontractor?

Posted on: November 20, 2017

October saw the closing arguments in Lawson v. Grubhub, the first trial concerning the status of workers in the gig economy. The central question is whether Lawson, the plaintiff, was improperly hired as a contractor, by Grubhub, a food delivery service that relies on a roster of workers who schedule their own “on-call shifts.” Lawson’s … Continue reading Employee vs Subcontractor?

Tips and Tricks For Your Next Google Search

Posted on: August 28, 2017

We all love co-workers who find the most up-to-date information–perhaps a website or article we used once but have since forgotten where we found them. Policies and procedures at the government agencies we work with change regularly. For example, the I-9, Employment Eligibility Verification form submitted to US Immigration and Customs Enforcement was updated in … Continue reading Tips and Tricks For Your Next Google Search

President Proposes Lower Tax Rate on S Corp Income

Posted on: April 27, 2017

President Trump’s plan to cut the tax rate to 15% for pass-through businesses would be a radical change to the tax code. The measure would apply to partnerships, S corporations, and limited liability companies that don’t have to pay corporate-level taxes and instead “pass through” to owners the income and losses. The current tax rate … Continue reading President Proposes Lower Tax Rate on S Corp Income

New Form I-9: Staying Compliant

Posted on: January 17, 2017

If you run a business, then you know the importance (and maybe the hassle, too) of correctly obtaining and storing the I-9 Employee Eligibility Verification form. In case you haven’t heard, CAS wanted to let you know about updates to the I-9, which has been revised for 2017. Beginning January 22nd all employers must use … Continue reading New Form I-9: Staying Compliant

The Alternative Minimum Tax

Posted on: December 2, 2016

To the surprise of some commentators, markets rallied after the election of Donald Trump. One way to explain the surge is that Trump’s economic policies are pro-business and pro-middle-class. A specific policy point that garners excitement among the business class is the repeal of the AMT, the Alternative Minimum Tax. In the most basic sense, … Continue reading The Alternative Minimum Tax

Section 179: A Small Business Perspective

Posted on: November 9, 2016

Has your business been considering purchasing new equipment but unsure about how you’ll handle the expense? If so, CAS wants to let you know about the Section 179 Deduction. The deduction is designed to make large purchases attractive to small businesses. Nearly all business equipment — including machinery, computers, software, office furniture, and vehicles — … Continue reading Section 179: A Small Business Perspective