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Doing the research – it’s in your nature. Read our blog to stay in the know.

Don’t forget about the Work Opportunity Tax Credit

By wscpa | February 18, 2022
Note: Congress is considering proposals that could expand the Work Opportunity Tax Credit for certain qualified groups. We will monitor this development and communicate updates as necessary. As a business, tax planning can help create increased cash flow that allows…

Build Back Better May Be Stuck, but How Could It Impact Business Owners?

By wscpa | January 25, 2022
Build Back Better is one of two pieces of legislation that form the centerpiece of President Biden’s domestic agenda. The first piece — the Infrastructure Investment and Jobs Act — was signed into law in November 2021. Build Back Better (BBB) focuses…

2022 mileage rates for business reimbursements

By wscpa | January 25, 2022
The IRS recently released the 2022 mileage rates for businesses to use as guidance when reimbursing workers for applicable miles driven within the year. The rates tend to increase every year to account for rising fuel and vehicle and maintenance…

Employer tax benefits of student loan repayment programs

By wscpa | December 14, 2021
The sheer amount of student loan debt individuals are graduating from higher education with has been increasingly covered in the news. While the government has been working to forgive student loan debt for certain people, there is something employers can…

Do You Have a Nanny or Household Employee? Make Sure You’re Up-to-Date on Tax Requirements

By wscpa | November 16, 2021
The COVID-19 pandemic caused many families to rethink their child care situation. Nannies became a popular choice for many, as they decreased the risk of sending children to child care centers and provided the benefit of helping those same children…

Congress Has Approved the Infrastructure Bill: What’s In It For You?

By wscpa | November 11, 2021
The long-awaited $1 trillion Infrastructure Investment and Jobs Act (IIJA) received the U.S. House of Representatives’ approval Friday, November 5, 2021, to provide funding for improvements to highways, bridges, and other road safety measures. The bill also offers plans to…

IRS Temporarily Expands List of Tax Forms Eligible for E-signatures

By wscpa | October 20, 2021
In light of the COVID-19 pandemic, the IRS expanded its electronic signatures program to include many more forms that historically needed a wet signature. The expansion is intended to make things easier for tax professionals and their clients, while in-person…

Making a Family File

By wscpa | October 19, 2021
One of the most difficult things for a family to deal with after the death of a loved one is sorting through the endless paperwork needed to get the estate in order. It is important that your documents are in…

IRS releases W-2 reporting requirements for qualified leave in 2021

By wscpa | October 18, 2021
The IRS recently issued Notice 2021-53, providing guidance on reporting qualified leave and sick wages to employees. Qualified sick and leave wages are those that are defined by the Families First Coronavirus Response Act (FFCRA), which was amended by the…

Don’t overlook the Employee Retention Credit

By wscpa | September 2, 2021
Note: We are closely monitoring H.R. 3684, known as the Infrastructure Investment and Jobs Act. The Senate has approved the infrastructure bill and now goes to the House of Representatives for consideration as of the publication. The infrastructure bill would…

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