Beginning with the 2020 tax year, the IRS will require business taxpayers to report amounts paid as nonemployee compensation on the new Form 1099-NEC instead of on Form 1099-MISC as was required in previous years. Generally, businesses will need to…
Beginning with the 2020 tax year, the IRS will require business taxpayers to report amounts paid as nonemployee compensation on the new Form 1099-NEC instead of on Form 1099-MISC as was required in previous years. Generally, businesses will need to…
The CARES Act, which went into effect last spring, established a new “above-the –line” deduction for charitable giving. The “line” is your adjusted gross income “AGI” which is your income after deductions, last year line 11b on your…
On June 25, 2019, the State of Connecticut enacted the Paid Family and Medical Leave Authority, which created a comprehensive paid family and medical leave insurance program in Connecticut. The paid leave benefit will be funded by a 0.5…
As of Thursday, November 12th at 8:00pm, grant application NOW open. CT GOVERNOR LAMONT CREATES NEW GRANT FOR CT BUSINESSES STILL AFFECTED BY COVID Governor Ned Lamont today announced that he is creating the Connecticut CARES Small Business…
The Small Business Administration (SBA) and Treasury Department (TD) Announce Total Forgiveness for All PPP Loans of $50,000 or Less There is NOW an easy loan forgiveness application for all Paycheck Protection Program (PPP) loans of $50,000 or less.…
