The IRS has extended the tax deadline for individuals to May 17th, 2021 for both Federal and Colorado tax returns. Please contact Marolt LLP for more information.
Category Archives: Uncategorized
Paycheck Protection Program Loans – Second Draw
A second round of funding for Paycheck Protection Program loans is now available for small businesses. “Second-draw” loans are available for small businesses that meet certain requirements and have used or will use the full amount of their initial PPP loan. The second round of funding will also be available for businesses who did notContinue reading “Paycheck Protection Program Loans – Second Draw”
New Form 1099 Reporting Requirements
Starting for tax year 2020, amounts paid as non-employee compensation will now be reported on Form 1099-NEC. These payments had previously been reported on Form 1099-MISC. Additionally, there are new due dates for each type of Form 1099. Please reach out to us for more details about reporting requirements and upcoming deadlines.
Year-End Tax Planning
As we approach the end of this crazy year it is more important than ever to consider some year-end tax planning strategies to better position yourself for the upcoming tax season. In addition to your normal year-end planning, it is important to also consider new legislation. The Coronavirus Aid, Relief and Economic Security (CARES) Act includesContinue reading “Year-End Tax Planning”
Paycheck Protection Program (PPP Loans)
CODIV-19 is undeniably taking a toll on our economy, but we are here to help. The PPP loan is created to specifically help small businesses maintain their workforce during these times. Who’s eligible? Any business, non-profit organization, veterans organization, or Tribal business concern with less than 500 employees or meets SBA’s industry size standard SoleContinue reading “Paycheck Protection Program (PPP Loans)”
Marolt LLP 