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The Families First Coronavirus Response Act Follow-Up

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…

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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?

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…

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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…

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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…

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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…

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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…

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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…