Tag: Tax

Posted onFebruary 25, 2021
BST's tax newsletter. In this issue: 5 Valuable Tax Credits for 2020 Individual Returns, Nonprofits Need to Educate Donors About New Tax Benefits, CAA Offers Tax Breaks for Manufacturers, Is It Time for a Roth Conversion? and more.
Posted onFebruary 10, 2021
BST partner, Jim Cole, was a featured tax expert in a WRGB Channel 6 story on the 6 pm news on the tax implications of the recent events involving GameStop stock sales.
Posted onJanuary 19, 2021
Judy Cahee and Bob Canterbury answered financial questions with WAMC's Ray Graf hosting.
Posted onDecember 15, 2020
Forms for various tax situations
Posted onDecember 10, 2020
While the CARES Act provides for the exclusion of any loan forgiveness amount from gross income, it fails to address the treatment of the expenses funded by those proceeds.
Posted onOctober 27, 2020
In the COVID-19-ravaged economy, debts can pile up beyond a borrower's ability to repay. Lenders sometimes may be willing to forgive (or cancel) debts that are owed by certain borrowers.
Posted onMay 21, 2020
In late March, the IRS announced that certain taxpayers generally have until July 15, 2020, to file and pay federal income taxes which were originally due on April 15. Since that guidance addressed the imminent and impending April 15 deadline, there were some taxpayers, tax forms, and tax payments that were not covered.
Posted onMay 21, 2020
IRS Denies Tax Deduction Tied to Small Business Loans As “small businesses” scramble to get the second round of Payroll Protection Program (PPP) loans, the IRS just released a notice that apparently takes away one of the key perceived benefits of the program.
Posted onMarch 31, 2020
On Friday, March 27, 2020, President Trump signed into law the bipartisan Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”).  This article addresses certain key employer tax considerations.
Posted onMarch 31, 2020
The Coronavirus Aid, Relief, and Economic Security (CARES) Act will provide roughly $2.2 trillion in financial relief to individuals, businesses, not-for-profit organizations, and state and local governments in response to the coronavirus (COVID-19) pandemic.