COVID-19 Relief Bill and Its Changes to the Employee Retention Credit

by Andreas Petrou, CPANow that the Consolidated Appropriations Act of 2021 (The Act) has been finally signed into law, we can look into the changes…

Consolidated Appropriations Act 2021

by Jennifer Kobylarz, CPA, MSTAfter months of uncertainty and an ostensibly endless back and forth between the Democrats and the Republicans, Congress finally worked together…

New York – Corporate Income Tax: MTA Surcharge Rate Increased for 2021, Deriving Receipts Thresholds Unchanged (Dec. 18, 2020)

by Jennifer Kobylarz, CPA, MSTThe New York corporate franchise tax MTA surcharge rate will increase from 29.4% to 30% for tax year 2021. The rate will remain the same for…

State and Local Tax (SALT) Deductions for Individuals

by Andreas Petrou, CPA and Svetlana RomanoThere is some great news in the world of taxation for small businesses. As of November 9, 2020, the…