The New Tax Credits – Zeroing in on the ERC

On the surface, taking the Employee Retention Credit (ERC) is four easy steps, but we all know that nothing’s really easy. This is especially true when it comes to interpreting new legislation where not all the guidance is out yet. And, to make things even more complex, there are different

Read More

Last Call for 2020 Tax Planning (Yes, in April 2021)

Believe It or Not, There’s Still Time to Implement This Smart Strategy The global pandemic has relentlessly hammered business owners from every angle – and while massive relief legislation eased some of the burden, it also increased the workload. Developing and maintaining alternative business operations to keep employees and customers

Read More

Expenses Paid with PPP Loan Proceeds Now Deductible in Kentucky

On March 15, 2021, Kentucky Governor Andy Beshear signed into law House Bill 278, which allows expenses paid with PPP loan proceeds to be tax deductible for Kentucky income tax purposes, providing much needed relief for taxpayers. The passage of the Consolidated Appropriations Act (“CAA”) in late December provided taxpayers

Read More

How to Use 529 Plans for College Funds and Education

529 plans are an investment vehicle that allows taxpayers to save for all levels of education. Contributions are made with after-tax dollars, but accumulated earnings and qualified withdrawals are tax-free for federal taxes. If savings towards education for your child or another beneficiary is a priority to you, this type

Read More