New Executive Order - Payroll Tax - https://mailchi.mp/6592be566f5b/aoru5latyj-3859489
Have you recently received PPP Funds (Payment Protection Program)? Do you need guidance on how to get the most use of your loan dollars?
Feel free to contact us, we would love to help!
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WE DO PAYROLL! Spending too much time on payroll? Afraid of making mistakes that could lead to state or federal penalties? Paying too much for your current payroll services? WE CAN HELP! You can rely on PBA for top quality payroll service year-round!!
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Welcome | Perfect Balance Accounting Services LLC
Make sure you receive your Stimulus Check! - https://mailchi.mp/0dfb80e269a8/aoru5latyj-3699089
Please stay safe everyone !
We DO love accounting! Give us a call for your Payroll, Bookkeeping and Tax needs! 262-554-8104
We are here! We are safe! We are up and running! Call us for your bookkeeping, payroll or tax needs! We would love to assist you in any way we can.
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New Round of PPE - What you need to know - https://mailchi.mp/bbe43cbf68f4/aoru5latyj-3991201
The Internal Revenue Service and the Treasury Department released guidance on claiming deductions for expenses associated with Paycheck Protection Program loans that have been forgiven. In a 180 degree reversal, the new ruling now allows for PPP loan forgiveness expenses to be deducted, even though the loans themselves are tax-free income. Prior rulings said these expenses count not be deducted.
Business owners are pleased with the ruling and say the whole point of the PPP program was to cover these expenses, not to provide cash for any use. They note that they had to incur these deductible expenses in order to get the loan forgiveness.
For more guidance on PPP loans, or any other accounting or tax questions contact Perfect Balance Accounting Services for all your business tax needs.
For many individuals receiving Unemployment Benefit payments in 2020 was a Godsend! If you did that is great, but, do you understand the tax treatment of these benefits? Both federal and state unemployment payments are generally taxed at ordinary income rates by the IRS/state taxing agencies. Recipients of these benefits should be making regular tax payments throughout the year.
If you are uncertain of your current tax situation we can help! If tax payments have not been made there is still time to make estimated tax payments before the end of the year.
Please contact us today with your questions.
