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Message from Paul Pittman: Less Is More

By Paul Pittman On February 9, 2022 · Add Comment
Happy New Year! Can you believe 2022 has arrived?  The older I get, the more shocked I am when a new year arrives at our doorstep. Where did the last one go? How could 365 days feel like a blink? With each passing year, my desire to pull up the flaps on time [...]
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Qualify for the Employee Retention Credit

Do You Qualify for the Employee Retention Credit?

By Pittman Legal & Tax Advisors On February 9, 2022 · Add Comment
In Congress’ ongoing attempt to help businesses recover from the pandemic’s economic impact, the 2020 Cares Act created the Employee Retention Credit (ERC). Through further legislation in 2021, Congress extended the ERC to include the third quarter of 2021 and the qualification standards were relaxed considerably. It is possible that your business could qualify for [...]
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2021 End of Year Tax Updates

2021 End of Year Tax Updates

By Pittman Legal & Tax Advisors On February 9, 2022 · Add Comment
As we continue to fight through the challenges related to COVID and life in general, it is our hope that we can reduce some of your stress as it relates to income taxes. As we all know, the tax laws are ever-changing and that has been especially true in 2020 and 2021. The following are [...]
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A Message from Paul Pittman: Checking In

By Paul Pittman On August 15, 2021 · Add Comment
It has been a while since I have written and shared some personal thoughts with you. I wanted to take this time to reach out, reconnect and check in with everyone. As you are well aware, the past eighteen months have been challenging. If we reflect on all the craziness, the magnitude of COVID [...]
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2021_Child_Tax_Credit

What You Need to Know About the 2021 Child Tax Credit

By Paul Pittman On August 15, 2021 · Add Comment
You may have noticed that the buzz around the new 2021 Child Tax Credit intensified these past two weeks as many parents saw $300 payments hit their checking accounts. As your tax advisors, it is our job to lay out the positives and the potential concerns these payments may present regarding your future tax liability.  [...]
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Meal_Expense

Change to the Business Meals Expense Deduction

By Paul Pittman On August 15, 2021 · Add Comment
In March of 2021, Congress enacted the American Rescue Plan that included many modifications to the preparation of 2021 business tax returns. The most significant aspect for businesses under IRS code section 274(n) is the change to the business meals expense deduction from 50% to 100%. There are conditions of course, which we outline below. [...]
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A Message from Paul Pittman: Silver Linings

By Paul Pittman On December 21, 2020 · Add Comment
What a year we have had! When, in recent history, have we shared a similar reality-shifting experience like this pandemic? Even though this time has been challenging, I feel we were given a unique opportunity to reflect and grow together over these last ten months of insecurity and worry. As many of you [...]
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CARES_Act_Tax_Planning

CARES Act Tax Planning

By Paul Pittman On December 21, 2020 · Add Comment
While many are facing difficult times, our lives and business do not stand still. Tax and financial planning are critical, and we urge our friends to be proactive. The following are some of the more notable provisions that will affect your CARES Act Tax Planning. Tax treatment of Stimulus Check – $1200 Technically, the rebate [...]
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2020 end of year tax planning

2020 End of Year Tax Updates

By Paul Pittman On December 21, 2020 · Add Comment
As all of us are dealing with the challenges of a global pandemic, income taxes may be the last thought on your mind. As finances are tight, taking advantage of every deduction is more critical than ever. The following are some 2020 end of year tax updates and some planning advice. Please call us with [...]
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Tax Ramifications of the CARES Act

Tax Ramifications of the CARES Act

By Paul Pittman On June 29, 2020 · Add Comment
The CARES Act enacted in March of this year provided considerable resources both to businesses and individuals to keep the economy on life support during the COVID-19 crisis. The bill enacted short-term measures such as delaying the date for filing tax returns and payments, Economic Impact Payments, Payroll Protection Program loans and other measures.  Listed [...]
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    • Message from Paul Pittman: Less Is More
    • Do You Qualify for the Employee Retention Credit?
    • 2021 End of Year Tax Updates
    • A Message from Paul Pittman: Checking In
    • What You Need to Know About the 2021 Child Tax Credit
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  • Message from Paul Pittman: Less Is More
    Happy New Year! Can you believe 2022 has arrived?  The older I get, […]

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