Renner Business News; January 18, 2021–Joan M. Renner, CPA, CGMA To address devastating losses from the COVID-19 pandemic, new laws will bring businesses some relief on their 2020 federal tax returns. The CARES Act has loosened limits on deducting 2020 business interest and net operating losses, and the Consolidated Appropriations Act of 2021 (CAA) has clarified favorable tax treatment … Continued
Renner Nonprofit News; January 13, 2021—Joan M. Renner, CPA, CGMA The Consolidated Appropriations Act of 2021 (CAA) includes a number of provisions to help small employers affected by the pandemic. One of the biggest features is the expansion of the Paycheck Protection Program (PPP) originally created by the CARES Act. The new law extends the time … Continued
Renner Business News; January 13, 2021—Joan M. Renner, CPA, CGMA The Consolidated Appropriations Act of 2021 (CAA) includes a number of provisions to help small employers affected by the pandemic. One of the biggest features is the expansion of the Paycheck Protection Program (PPP) originally created by the CARES Act. The new law extends the … Continued
Renner Nonprofit News; January 12, 2021—Joan M. Renner, CPA, CGMA The Consolidated Appropriations Act of 2021 (CAA) includes a number of provisions to help small employers affected by the pandemic. One of the biggest features is the expansion of the Paycheck Protection Program (PPP) originally created by the CARES Act. The new law extends the time … Continued
Renner Business News; January 11, 2021—Joan M. Renner, CPA, CGMA The Consolidated Appropriations Act of 2021 (CAA) includes a number of provisions to help small employers affected by the pandemic. If you have had employees who were unable to work due to COVID-19 illness, quarantine or school closings, the Families First Coronavirus Response Act (FFCRA) funds up to 12 … Continued
Renner Nonprofit News; January 11, 2021—Joan M. Renner, CPA, CGMA The Consolidated Appropriations Act of 2021 (CAA) includes a number of provisions to help small employers affected by the pandemic. If you have had employees who were unable to work due to COVID-19 illness, quarantine or school closings, the Families First Coronavirus Response Act (FFCRA) funds up … Continued
Renner Firm News; November 2, 2020 The Virginia Society of CPAs (VSCPA) champions the accomplishments of women in the accounting profession and has created the Women to Watch Awards for established and emerging female leaders in the accounting profession. Winners will be recognized at the second annual Women’s Leadership Forum in December. In 1898, when … Continued
Renner Business News; April 27, 2020—Joan M. Renner, CPA, CGMA A new COVID-19 relief package is expected to provide $310 billion additional Paycheck Protection Program (PPP) funding very soon to help small businesses and charities amid the COVID-19 crisis. Organizations can use PPP loans to pay rent, payroll, utilities and existing mortgage interest. After eight … Continued
Renner Business News; April 14, 2020—Joan M. Renner, CPA, CGMA The IRS has provided guidance for employers who want to take advantage of the Employee Retention Credit. Small businesses and nonprofits experiencing economic hardship related to the COVID-19 crisis can claim a refundable credit for half the amount of wages paid to employees from March 13 through … Continued
Renner Business News; April 1, 2020 Many individuals will receive much-needed financial relief from the provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, including— Recovery checks, Additional tax deductions for charitable contributions, Waiver of penalties for early pension distributions, and Waiver of the requirement for required minimum IRA distributions. Recovery Rebate Checks … Continued