The Planner

Employee Retention Credit

Employee Retention Credit Expands Under Consolidated Appropriations Act 2021

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Christian Brim

Previously, I have written about the new round of PPP Loans and the grants for shuttered venue operators that were in the Consolidated Appropriations Act. The Act also extended and expanded the Employee Retention Credit.

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How to File Taxes When Working Remotely

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Core Group

Due to the pandemic, it’s likely that you or someone you know works remotely, at least temporarily. Here are a few factors to keep in mind when filing your taxes, potential problems that may arise, and relief opportunities that may be available to you. When in doubt, our experts at Core Group can help you devise the tax strategy that’s right for you.

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Employee Retention Credit - Consolidated Appropriations Act 2021

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Christian Brim

Previously, I have written about the new round of PPP Loans and the grants for shuttered venue operators that were in the Consolidated Appropriations Act. The Act also extended and expanded the Employee Retention Credit.

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Tax Implications When You Sell Your House With a Home Office

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Core Group

Meet Penelope, a fictional, full-time freelancer who offices from her small (but cozy!) home. Since her home office takes up about 25% of her home, she’s been deducting 25% of her maintenance costs as business expenditures for the past five years. But now she’s ready to sell her home. What tax implications can she expect to face? Does the IRS now classify 25% of her profit as business income? Here’s what to expect when selling a home with a home office. 

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Grants in the Consolidated Appropriations Act of 2021

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Core Group

There are more than just PPP loans in the Consolidated Appropriations Act of 2021. Live event operators will eligible for grants up to $10 million, which can be used for eligible expenses. At least $2 billion in grants are set aside for small employers. Small employers are defined as those with not more than 50 full-time employees.

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PPP Continues in Consolidated Appropriations Act, 2021

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Core Group

To answer your question, no Congress is not done.  In the wee hours of December 21st, they passed the Consolidated Appropriations Act 2021 and included an extension of the popular Paycheck Protection Program (PPP) for 2021. 

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What is the difference between Short Term and Long Term debt? Couple discussing.

What is the Difference Between Short Term and Long Term debt?

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Core Group

Question:

‍What is the difference between Short Term and Long Term debt?  Why do I see my loans on the balance sheet twice?

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On Hoarding Ramen and other Unpredictable Growth

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Christian Brim

First, it was toilet paper, now people are hoarding ramen.  At least with ramen, it makes some sense.  If you are going to be locked up in your house, you need something to eat.  Toilet paper made absolutely no sense to me, but that is the point.

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Telework, Taxes and Your Business

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Core Group

Working from home was already building momentum before “social distancing” became a household buzzword. Now, some studies predict that 50% of employees from one-third of companies may continue working from home long after the pandemic ends. Many businesses are beginning to hire employees who already reside in other states, which comes with drawbacks and perks. Employers have more options than ever before when recruiting new talent. Yet welcoming more remote workers aboard doesn’t just mean more employees are now working in dress shirts and sweatpants. If only it could be that simple . It has implications for your taxes as well –– especially if some of your employees have relocated to other states either temporarily or permanently. Here are some factors to consider when navigating this uncharted territory.

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Why do You Want to Grow?

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Christian Brim

Ask any entrepreneur if they want to grow, and with few exceptions, the answer will be YES! Ask them why they want to grow, and likely you will hear crickets. The why is critical, without it, you will fold when challenges arise. If you know the why, and you are passionate about it, you will figure out the how.

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