On March 30, 2021, President Biden signed legislation to extend the application period of the popular Paycheck Protection Program (PPP) through May 31, 2021. This followed a bipartisan 92-7 vote in the U.S. Senate to pass the Paycheck Protection Program Extension Act of 2021.
Many people started businesses in 2020, and many others plan to launch new ventures in 2021. Entrepreneurs often have questions about whether business expenses for a start-up can be deducted in the year they're incurred or paid — or whether they must be capitalized and deducted over time. Here's some guidance.
Senior Wealth Advisor, Bob Canterbury, provides financial guidance to callers on WAMC’s Vox Pop. Listen in as he covers topics like the American Rescue Plan – $1.9 trillion Stimulus Package, tax filing deadline extended to May 17th, the New $3 Trillion Biden Proposal, Game Stop, and Bitcoin.
The Internal Revenue Service and the New York State Department of Taxation and Finance have announced that the individual income tax filing deadline for 2020 tax returns is automatically postponed from April 15, 2021, to Monday, May 17, 2021.
Every hour businesses spend doing taxes is an hour not spent moving the business forward. Outsourcing accounting and tax preparation can end the tax season scramble and help businesses save money, reduce errors, and devote more time to business-forward initiatives.
The Consolidated Appropriations Act (CAA) — the massive spending package passed in December 2020 — includes many provisions designed to help small businesses that have been struggling during the COVID-19 pandemic. Specifically, the new law contains the following seven tax-related provisions that may be of particular interest to manufacturers.
Jon Schwalb from Repeat Business Systems and Kristen Berdar from BST Virtual Accounting Solutions host a 30-minute webinar on cloud-based security concerns.
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.
Bob Canterbury shares his analysis of the GameStop situation appearing on three of the four local TV stations: WNYT NBC 13, WRGB CBS 6 and WTEN ABC 10/WXXA Fox 23. His commentary was also featured in a front page story in Friday’s print edition of the Times Union.
