With President Biden’s Signing of the Infrastructure Investment and Jobs Act (IIJA) on Nov. 15, employers’ ability to claim employee retention credits (ERC) for eligible wages paid after Sept. 30, 2021, has been retroactively eliminated. In the simplest terms, this means that employers will no longer be able to claim
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While reading the news and trying to find useful information to the Monmouth and Ocean County business community, occasionally, there will be a term that keeps popping up. Recently that term has been opportunity zones, and I’m going to take the time today to explain what these zones are, where
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The Biden Administration’s tax proposal as a part of the American Jobs Plan is causing some wealthier Americans to grow concerned that they could end up paying substantially more in taxes if this plan gets passed by congress. Even if you aren’t in a high-income tax bracket, don’t assume that
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Have kids? Like an extra $300 a month to plan for their future? No, this isn’t some sort of late night infomercial, I’m talking about the updates to the child tax credit as a result of the American Rescue plan back in March. If this one slipped past you, don’t
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The employee retention credit (ERC) is one of the updated tax laws that came into being as a result of the CARES Act in the beginning of the COVID crisis of 2020. The purpose behind this new tax break was to make keeping employees on the payroll a more attractive
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The employee retention credit (ERC) was one of the CARES act’s provisions designed to alleviate the financial suffering employers have experienced due to COVID. It allows employers to claim a tax credit based on the wages paid to employees. With recent legislation, there have been updates to the act. It’s
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Americans from all walks of life are eagerly awaiting news about the new stimulus bill. The new stimulus package’s final passage has yet to occur, but President Biden and the Democrats are pressing hard to get it signed into law. Already passed by the house and soon to be facing
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The Employee Retention Credit, a provision of the CARES Act, has been extended under the Consolidated Appropriations Act of 2021. It is now available through June 30, 2021, and is available for all employers who have retained their employees throughout the COVID-19 pandemic. The new extension will help businesses deal
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