FEATURED ARTICLES & TAX TIP BLOG

Welcome to the KM&M CPAs Featured Articles & Tips Blog. Here we share tax and accounting news and tips for our clients on a regular basis. Please feel free to suggest ideas for topics you would like to see addressed, by dropping an email to kmm@kmmcpas.com. Enjoy the articles and susbcribe to our newsletter for more updates.

Relief: A look at the latest COVID assistance for businesses

Relief: A look at the latest COVID assistance for businesses

From KM&M CPAs/Thomson-Reuters — Dear Clients and Friends, The Consolidated Appropriations Act, 2021 (the CCA, 2021), signed into law on December 27, 2020, is a further legislative response to the coronavirus (COVID-19) pandemic. The CCA, 2021 include--along with...

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SBA and Treasury Announce PPP Round 2, New Guidance

SBA and Treasury Announce PPP Round 2, New Guidance

From KM&M CPAs/National Society of Accountants — WASHINGTON – The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced PPP Round 2 on Friday, Jan. 8. The Paycheck Protection Program (PPP) re-opened this week for new...

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Focus: Extended COVID relief affecting individuals

Focus: Extended COVID relief affecting individuals

From KM&M CPAs/Thomson-Reuters — Dear Clients and Friends, Here is an overview of key provisions in the extended COVID relief legislation enacted in late December that affect individuals. The legislation is the COVID-related Tax Relief Act of 2020 (the "Act" or...

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Coronavirus Assistance Checklist, Jan. 4 update

Coronavirus Assistance Checklist, Jan. 4 update

From the Pinnacle CPA Advisory Group —  CORONAVIRUS ASSISTANCE CHECKLIST by Dave Krebs, CPA (Jan. 4, 2021) This checklist was prepared for our clients and friends as a quick way to identify eligible, qualified programs. Please contact us for the details.  Many of the...

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Additional 2020 economic impact payments

Additional 2020 economic impact payments

From KM&M CPAs/Thomson-Reuters — Dear Clients and Friends, You’ve probably heard that IRS will be making millions of ”economic impact payments” (also called ”recovery rebates”) in the near future to help people stay afloat during this time of economic uncertainty...

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IRS issues standard mileage rates for 2021

IRS issues standard mileage rates for 2021

From the IRS Newswire — WASHINGTON — The Internal Revenue Service recently issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1,...

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Forecast of what may be coming with the Biden tax plan

Forecast of what may be coming with the Biden tax plan

With information from our friends at Pinnacle Wealth Planning Services, Inc. — Now that the 2020 general election is mostly over, it’s time to consider what federal tax changes President­elect Biden would like to see for 2021 and beyond. However, the post-election...

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Advice for Your Year-End Charitable Giving

Advice for Your Year-End Charitable Giving

With information from our friends at Pinnacle Wealth Planning Services, Inc. — Dear Clients, With the holiday season upon us and the end of the year approaching, we pause to give thanks for our blessings and the people in our lives. It is also a time when charitable...

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Beware of Covid-19 Vaccine Scams

Beware of Covid-19 Vaccine Scams

With information from our friends at Pinnacle Wealth Planning Services, Inc. — Dear Clients, We wanted to pass along this information to keep you informed and aware. Unfortunately and unsurprisingly, there already are many scams underway associated with the COVID-19...

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