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Liabilities for Unused Time Off Mount as Pandemic Lingers

During the pandemic, many employees have postponed using their allotted paid time off until COVID-related restrictions are lifted and safety…

Second Quarter Estimated Taxes

Why it’s important to meet the tax return filing and payment deadlines

The May 17 deadline for filing your 2020 individual tax return is coming up soon. It’s important to file and…

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Additional Retail Sales and Use Tax in Charlotte, Gloucester, Northampton and Patrick Counties

Virginia Tax is announcing that effective July 1, 2021, a new 1% additional retail sales and use tax will be levied…

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ALERT: State Minimum Wage Increases May 1

The minimum wage in Virginia will increase to $9.50 on May 1, 2021. This is the first of several scheduled increases…

UPDATE: Paycheck Protection Program - Extended to May 31

UPDATE: Paycheck Protection Program – Extended to May 31

On March 30, 2021, President Biden signed the PPP Extension Act of 2021 into law, extending the Paycheck Protection Program…

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American Rescue Plan Act of 2021

On March 11, 2021, President Biden signed into law the $1.9 trillion American Rescue Plan Act of 2021. The legislation…

IRS Extends Deadline

Many news agencies, late yesterday and this morning, have been reporting the IRS is planning to extend the April 15,…

Estimated Tax Deadline

Estimated Tax Payments: Deadline for the first 2021 installment is coming up

April 15 is not only the deadline for filing your 2020 tax return, it’s also the deadline for the first…

Tax Tips

4 Important Changes on Your 2020 Tax Return

Tax season has started. Your tax professional is ready to prepare your 2020 federal and state returns — but are…

Updates to PPP Loan Amounts for Schedule C Filers

On March 3, 2021, the Small Business Administration released new Frequently Asked Questions, Interim Final Rules and multiple new forms…