IRS Extends Tax Changes That Help Individuals and Businesses Give to Charity in 2021
In 2020 lawmakers put in place several provisions that allowed for additional tax benefits for individuals and businesses making charitable donations. As in 2020, the following tax benefits are in place: • Taxpayers who do not itemize can claim a deduction of up to...
Attention Small Business Owners!
In honor of the IRS’ Small Business Week, we wanted to make you aware of a variety of small business resources, including a guide to starting a small business, assorted tax tips and a video portal. In conjunction with this, and as we approach the end of another...
Reminder: 2020 Extension Tax Filing Deadlines are Quickly Approaching
Just a friendly reminder that extended 2020 Corporate and Partnership tax returns are due next week. Extended personal returns are due next month. We look forward to the opportunity to help all of our extended clients file their returns on time. In order to achieve...
Reminder: Child & Dependent Care Credit Has Increased for 2021 Only
The American Rescue Plan offers some great tax benefits for working parents with young children. Not only has the plan increased the amount of the credit and eligible expenses for child and dependent care, but it also has modified the credit’s phase-out for...
Are you eligible for the Employee Retention Tax Credit (ERTC)?
BUSINESS OWNERS: DON’T LEAVE MONEY ON THE TABLE! Your company could qualify if it experienced: 50% reduction in revenue in Quarters 2-4 of 2020 and a full or partial government order or shutdown in 2020, Greater than 20% reduction in gross receipts in the first 2...
We are looking for great people to join N&Co!
We love working really hard for our clients all year long, but especially during the 14-weeks of tax season! We are currently hiring for a variety of job positions within in the firm–some are for tax season & some are year-round. If you or someone you know...
Attention All Self-Employed Individuals & Business Partners
The IRS recently approved a temporary 100% deduction for some business meal expenses incurred during the 2021 and 2022 calendar years. In order to qualify, expenses must meet the following criteria: Paid or incurred after 12/31/20 and before 01/01/2023 with the meal...
Attention Clients with Children Age 17 and Under!
The federal government has begun to distribute child tax credit payments. You can expect to receive these payments monthly if your adjusted gross income is under $400,000 if filing as Married, or $200,000 if filing as Single, Separate or Head of Household. Please keep...