Blog Archives

CHANGES TO FORM 1099 – FORM 1099-NEC

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


LIMITED CHARITABLE DEDUCTIONS ALLOWED – MAKE DONATIONS BY DEC 31st

  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


Connecticut Enacts Paid Family & Medical Leave Law Effective January 1, 2021

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


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NOW OPEN: New Grant Money for CT Small Businesses

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 SBA & TD release simplified loan forgiveness application

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.


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