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Recent Tax Services Articles

Employee Retention Tax Credit: Don’t Miss a Step

Employee Retention Tax Credit: Don’t Miss a Step

By Lee Frank, MBA, CPA June 20, 2022

By now, you have likely heard about the Employee Retention Tax Credit (ERTC) program, a government incentive for businesses to retain employees throughout the Covid 19 pandemic. It was created by the CARES Act and extended and altered by successive pieces of coronavirus relief legislation. The ERTC has provided massive…

6 Things to Know About a 1098-T Form

6 Things to Know About a 1098-T Form

By Lee Frank, MBA, CPA January 13, 2022

We’re getting deep into tax preparation season, and during a year that the Internal Revenue Service expects to be busier than most, institutions and students are encouraged to organize and submit documentation as promptly as possible. Among the most important items for institutions to prepare is Form 1098-T, Tuition Statement….

Don’t Miss Out on the Employee Retention Tax Credit

Don’t Miss Out on the Employee Retention Tax Credit

By Lee Frank, MBA, CPA November 8, 2021

If they have yet to do so this year, qualifying employers can still take advantage of one of the CARES Act’s major benefits — the employee retention tax credit (ERTC). Enacted with the 2020 coronavirus relief legislation and since extended through 2021, it is meant to help businesses that retained…

Employee Retention Credit: Can Your Business Claim It?

Employee Retention Credit: Can Your Business Claim It?

By Lee Frank, MBA, CPA March 31, 2021

Businesses and institutions that were able to retain employees throughout the difficult months of 2020 may be eligible for a beneficial tax credit created by the CARES Act and extended by further coronavirus relief legislation. But employers should pay special attention to recent IRS guidance that provides some key details…

Stay on Top of Potential PPP Tax Concerns & Solutions

Stay on Top of Potential PPP Tax Concerns & Solutions

By Daniel R. Steinmeyer, MBA, CPA December 7, 2020

This year’s Paycheck Protection Program (PPP) was a life preserver for many companies and for-profit organizations, as well as their employees, as the COVID-19 pandemic ramped up and businesses were forced to close. But there are some potential tax considerations for business owners and pass-through entities regarding the loan program…

Learn if You Qualify for a Coronavirus-Related Distribution

Learn if You Qualify for a Coronavirus-Related Distribution

By Angela Evans November 11, 2020

The coronavirus pandemic has caused many hardships throughout 2020, with health and the economic effects being felt by almost every family in the country. As a result, the government has issued many new aid-providing bills in this timeframe. The most significant of these to date is the CARES Act. While…

Newly Online Schools May Be Caught in a Nexus Web

Newly Online Schools May Be Caught in a Nexus Web

By Lee Frank, MBA, CPA November 2, 2020

Now that we are months since the beginning of the COVID-19 pandemic, postsecondary education institutions have had ample time to adjust and adapt to a new reality. The work has not been easy and will remain a challenge, but to paraphrase a cliché we’re hearing a lot this year, there…