Thought Leadership
When it comes to thought leadership and staying informed, we’ve got you covered. See below for recent articles, webinars, and downloadable resources available.
Want updates like these sent directly to your inbox?
December 09, 2020
Join Us! Join Blue & Co. and HK Financial Services on Friday, December 18 from 11:00 a.m to 12:15 p.m. Eastern for a discussion on Planning for Year-End and 2021. The Panelists will discuss: TCJA tax matters which will impact 2020 and possibly 2021 Year-end planning matters related to the CARES Act The Biden Tax Plan […]
November 23, 2020
By Kevin Umberger Senior Manager at Blue & Co. 2020 has been a year of tremendous uncertainty. As this year ends, we take this opportunity to refresh the tax planning strategies that will be most applicable to your tax situation in 2020 and the years beyond. Now that we are past (well, sort-of past) the […]
November 19, 2020
As we approach the end of 2020, many taxpayers and tax practitioners have been pondering whether or not expenses that were incurred in 2020 and paid with Payroll Protection Program (PPP) proceeds would be deductible in the current year if the PPP loan wasn’t forgiven until next year. On November 18, the IRS released much-awaited […]
October 13, 2020
As November’s US Presidential election approaches, each candidates’ policies and proposals are coming into better focus. As these policies are vetted by the American public, the candidates’ tax policies are, as usual, a major point of contention. Although President Trump has not released a formal plan, he has expressed some ideas which we can evaluate […]
September 11, 2020
The most significant tax-related executive action is the “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” Taxpayer be wary, this order does not revoke your obligation to pay payroll taxes; it merely postpones the taxes to be due at a later date. The tax deferral period is from September 1, […]
August 18, 2020
COVID-19 has added several new tax challenges to everyone’s plate this year. One of the less commonly discussed problems has been the impact of the sudden increase of remote workers on the company’s various state income and sales tax obligations. Nexus, a business’s economic connection with a tax jurisdiction, is determined by several different factors […]
August 17, 2020
Did you know that as of March 27, 2020, most Required Minimum Distributions (RMDs) were waived for the 2020 calendar year? That means that if you normally take an RMD from your IRA or business retirement plan, except for pension plans, you are not required to take that distribution for 2020. In most cases, if […]
July 23, 2020
Paul Roth, principal and State and Local Tax expert at Blue & Co., sat down with the Ohio CPA Society to discuss the impact of the South Dakota vs. Wayfair case two years later. They discussed new nexus standards, how many states have adopted Wayfair, what this means for online retailers, and much more. Listen […]
June 17, 2020
For most individuals, a hobby is a great way to spend free time, and if you are fortunate, you might even make some money while enjoying your hobby. Determining whether your activity is considered a “hobby” or “legitimate business” can have an impact on your tax strategies and savings. Before the TCJA, individuals could deduct hobby […]
May 04, 2020
The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes extensive provisions for providing massive fiscal relief to not just businesses, but individual Americans. One of the most immediate forms of relief comes by cutting direct checks to many Americans. For details and stipulations of these relief checks, check out our CARES Act overview here. […]
April 22, 2020
On April 17, 2020, the Treasury Department released additional guidance for taxpayers seeking to take advantage of recently passed legislation included in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). A long-awaited fix for Qualified Improvement Property was retroactively provided for in the CARES Act, and taxpayers have been eager to find out […]
April 15, 2020
On Friday, April 10, 2020, the Internal Revenue Service offered some additional guidance to taxpayers who are benefiting from some of the relief provisions of the CARES Act. One such provision allows employers to defer the deposit and payment of the employer’s share of FICA (Social Security taxes) incurred through December 31, 2020. These deposits […]
April 13, 2020
News comes fast in the rapidly-changing environment we all currently live in, and the U.S. Department of the Treasury is no exception. Last week, the Treasury and Federal Reserve Board announced the establishment of new lending programs to help businesses and state and local governments affected by the COVID-19 pandemic. Additionally, the Treasury and the […]
April 13, 2020
In these unprecedented times in the midst of the COVID-19 pandemic, employees are likely incurring a variety of unplanned expenses, and employers may want to provide some financial assistance to their employees to help them recover from the economic hardships imposed by this pandemic. The IRS provides some tax relief for these circumstances in the […]
April 13, 2020
This article was originally published on March 30th and is being updated as new information becomes available. The Internal Revenue Service (IRS) announced on April 9, 2020, that informational tax return due dates have been extended in light of the coronavirus pandemic. Not-for-profits with filing deadlines of April 1, 2020 to July 14, 2020 now […]
Webinars
May 07, 2021
The American Rescue Plan Act, enacted March 11, 2021, aims to deliver economic relief to families and workers. On April 21, President Biden announced a provision of the American Rescue Plan Act that allows eligible employers to claim refundable tax credits for providing emergency paid sick leave to employees who take time off for reasons […]
March 18, 2021
On March 17, the IRS ended weeks of speculation and issued an information release (IR-2021-59), which provides individual taxpayers an additional month to file their income tax returns. Individuals now have until May 17, 2021, to file their Form 1040, and no interest or penalty on taxes due will begin to accrue until that date. […]
March 15, 2021
Note: You will see in the article below allowable entities now include 501(c)(7) organizations. There remains many specific requirements for the PPP program and each organization will need to consider the totality of the program and their situation to see if they qualify. However, the deadline to apply for funding has not been moved and […]
March 07, 2021
By: Derek Gray, CPA, Director On Saturday, March 6, the Senate passed a $1.9 trillion COVID-19 relief package, The American Rescue Plan Act, with the House expected to pass the bill on Tuesday, March 9. President Biden hopes to sign this bill into law before unemployment aid programs expire on March 14. Provisions in the […]
March 03, 2021
By: Damien Strohmier, CPA, CCIFP Note: On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which includes the following provisions related to the employer tax credits discussed in this article: Extension of the period for which the credit for providing paid sick and family leave may be taken from […]
February 24, 2021
You’re Invited! On Wednesday, March 3, 2021, Blue & Co. hosted a webinar entitled Understanding the Employee Retention Credit (ERC): What You Need To Know. In this session, you will learn more about the expansion of the Employee Retention Credit (ERC). The panelists discuss: Explanation of the credit and amounts Who is eligible to take […]
