President Signs Coronavirus Relief Bill
On December 22, 2020, Congress passed the Consolidated Appropriations Act, 2021 (CAA2021), which includes $892 billion in coronavirus stimulus spending. The act was signed into law by President Trump on…
Succession Planning Trends to Watch
This article discusses some of the basics that you can capitalize on to ensure that the succession of your business is as easy and efficient as possible. For example, tips…
Processing Payroll in 8 Easy Steps
Although outsourcing payroll is an effective approach, completing payroll in-house can save your business time and money. You may think that completing payroll is a daunting task, but following tips…
Blackman & Sloop Announces New Small Business Advisory Manager
Blackman & Sloop, CPAs, P.A. is pleased to announce the addition of Joshua Minor, CPA to their professional team. Minor joins the firm as a manager in the Small Business…
Income Tax Brackets for 2020 and 2021
This article discusses the importance of being educated on the latest income tax brackets and trends to best optimize your hard-earned savings. Each year the IRS adjusts the tax brackets…
IRS Releases Anticipated Guidance Regarding PPP Loans and Expense Deductibility
On November 18, the Internal Revenue Service (IRS) released Revenue Ruling 2020-27 and Revenue Procedure 2020-51. The two releases offer clarification regarding the non-deductibility of expenses that contribute to the…
Finding, Retaining, and Rewarding the Right Staff and Clients
This article discusses some of the best practices that you can incorporate into your startup or general business to keep adequate clients and customers surrounding your business. Whether it is…
2020 Year End Tax Letter Now Available
Year-end tax planning is seldom a simple proposition, and 2020 has been quite a challenge, to say the least. With this in mind, we have prepared a comprehensive 2020 Year-End…
Deducting Losses – Current NOL Rules Related to the CARES Act
This article discusses how the coronavirus pandemic impacted many businesses in a negative way. Despite government funding programs such as the CARES Act and PPP Loan, many businesses are going…
Main Street Loans Opening Up for Smaller Businesses
This article discusses the most recent announcement from the Federal Reserve Board. This is significant for small businesses because the minimum loan amount went from $250,000 to $100,000 on three…