The Families First Coronavirus Response Act Follow-Up
In March, the Families First Coronavirus Response Act (FFCRA) was enacted which requires certain employers to provide employees with expanded…
When a Spouse Inherits an IRA
Spouses have the most flexibility when inheriting individual retirement accounts (IRAs). The basic rules are: The spouse may treat the inherited…
Hobby or Business? How to Treat COVID-19 Sideline Activities for Taxes
Today, many people sell homemade products online or work on some unincorporated sideline venture outside of their regular day jobs….
Disability Income: How is it taxed?
Many Americans receive disability income. You may wonder if — and how — it’s taxed. As is often the case…
PPP Loans Under $50,000
On October 8, 2020 the SBA and Treasury Department released updated rules and a new forgiveness application Form SBA 3508S…
COVID-19 & Retirement Plans
Under the CARES Act and related Notice 2020-50 issued by the IRS, retirement plan participants affected by COVID-19 can take…
Revised Form 941 – Employers Third & Fourth Quarter 2020 Payroll Taxes
The IRS has released a draft version of the revised Form 941 (https://www.irs.gov/pub/irs-dft/f941–dft.pdf) to be used by employers for third…
RebuildVA Small Business Grant Program
The Commonwealth of Virginia created the Rebuild VA Small Business Grant Program to assist small businesses and non-profits that experienced…
Welcome New Hire, Anna Pitts
Anna Pitts has joined the firm as a Senior Accountant and is based in our Tri-Cities office. As a Senior…
Monitor Overtime Pay for Your Remote Workers: DOL Guidance
Paying your employees for hours that you know they’ve worked is straightforward enough. But what if they’re doing more work…