November 25, 2020

Business Outlook Webinar 12/8/2020: Featuring Steve Goluch

Mark Your Calendar. . . December 8, 2020 / 9:00-10:00am 2021 Business Outlook Webinar Don’t miss this informative production sponsored by the Daily Herald Business Ledger and featuring a panel of economic experts including Weiss & Company LLP partner Steve Goluch. Participation is free, so Register Now!…

November 23, 2020

PPP Loan Forgiveness Update: New Guidance on Deductibility of Expenses

Last Wednesday, the U.S. Treasury and IRS issued new guidance to clarify the tax deductibility of business expenses that are paid for with PPP loans. These expenses include payroll costs, certain employee health benefits, mortgage interest, rent, utilities and interest on other debt. Revenue Ruling 2020-27 indicates that PPP loan recipients may not deduct these…

November 23, 2020

Q&A: Jim Hamilton Looks Back On – And Beyond – 2020

With a professional career spanning nearly three decades, including five years in the private sector, Weiss partner Jim Hamilton brings an exceptionally deep perspective on matters affecting tax planning, both short and long-term. He sat down recently to discuss how the firm has handled working in the pandemic and what individuals and businesses should be…

November 20, 2020

Last Minute Tax Tips for Individuals in 2020

With the holidays approaching and the end of the year in sight, individual taxpayers should take time to ensure they are reducing their tax obligations and preparing for next year. We anticipate that deadlines will return to their initial timetables, with April 15 as the deadline for individual tax returns, so taxpayers should have their…

November 19, 2020

Your Annual Tax Planning Guides

If there was ever a year where literally everyone – workers, business owners, investors, retirees, you name it – needs expert tax guidance, 2020 is it. As always, a good place to start is by reading our annual Tax Planning Letters. Prepared by one of the world’s largest and most influential public accounting networks, they…

November 19, 2020

IRS Introduces New Form 1099-NEC for Non-Employee Compensation

In a move of particular importance to employers who work with freelancers, contract workers and other non-employees, the IRS recently released the new Form 1099-NEC for tax year 2020. Beginning with tax year 2020, employers must use the new form to report non-employee compensation that meets the following four conditions: You made the payment to…

November 19, 2020

Business Tax Planning in 2020

In this difficult year, many businesses have faced a variety of challenges and tough choices. That’s why it’s important to understand what your options are for minimizing your tax obligation or potentially earning your business a small refund. The CARES Act also gives businesses a few new options for deductions, so now is the time…

November 17, 2020

Weiss Welcomes Three New CPAs to Its Professional Staff

Summer 2020 was certainly a challenge for everyone, but there was a silver lining for Weiss & Company LLP as the firm added three top-notch CPAs to its formidable accounting team. The trio includes new associates Nick Hamilton, Danusia Lazea, and Ian Livingston. “We’re always looking to add top talent whenever we have the opportunity…