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Posted in The Bottom Line, Featured Post, General Business, Small Business, Featured Content

Work Opportunity Tax Credit extended through 2025

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Are you a business owner thinking about hiring? Be aware that a recent law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a tax credit known as the Work Opportunity Tax Credit (WOTC) that’s worth as much as $2,400 to $9,600 for eligible employees. The credit is…

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Posted in Featured Content, Newsletters

MWE Advisor February Highlights

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February highlights from The MWE Advisor: Last-minute tips for your 2020 personal return; Important 2021 tax figures for businesses and individuals.

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Posted in Alerts, Articles, Featured Content

Act Fast: PPP Changes Provide Greater Access for Smallest Businesses

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The Biden Administration announced changes to the Paycheck Protection Program (PPP) to increase lending to smaller businesses and help ensure equitable distribution of loans to them. But qualified businesses may want to act fast because there is a short period when PPP loan applications will exclusively be accepted from businesses with fewer than 20 employees.

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Posted in The Bottom Line, Featured Post, General Business, Small Business, Featured Content

If you run a business from home, you could qualify for home office deductions

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During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might be able to claim deductions for home office expenses against your business income. There are two methods for claiming this tax break: the actual expenses method and the…

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Posted in The Bottom Line, Featured Post, Accounting & Auditing, Featured Content

Should my distressed company consider a debt restructuring?

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Many businesses have experienced severe cash flow problems during the COVID-19 pandemic. As a result, some may have delayed or missed loan payments. Instead of filing for bankruptcy in court, delinquent debtors may reach out to lenders about restructuring their loans.

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Posted in The Bottom Line, Featured Post, Infographics, Featured Content

Executive perspectives on 2021

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Infographic: When do CEOs and other business leaders expect an economic recovery?

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Posted in Alerts, Featured Content, Videos

Webinar Recording: 2021 Tax Update

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On January 26, 2021, MWE Partner Lance Christensen, CPA, and SALT Director Joseph Pizzimenti, Esq., presented their “2021 Tax Update” webinar to the Institute of Management Accountants (IMA) – Long Island Chapter.

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Posted in The Bottom Line, Featured Post, General Business, Small Business, Featured Content

The cents-per-mile rate for business miles decreases again for 2021

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This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a result, you might claim a lower deduction for vehicle-related expenses for 2021 than you could for 2020 or 2019. This is the second year in…

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Posted in The Bottom Line, Featured Post, Estate Planning, Infographics, Featured Content

When to file a gift tax return

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Infographic: When are you required to file a gift tax return?

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Posted in The Bottom Line, Featured Post, General Business, Small Business, Featured Content

Need another PPP loan for your business? Here are the new rules

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A new law was recently signed providing additional relief for businesses and individuals during the COVID-19 pandemic. One item of interest for business owners in the Consolidated Appropriations Act (CAA) is the opportunity to take out a second loan under the Paycheck Protection Program (PPP).

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Posted in Alerts, Featured Content

MWE Named a 2021 Forbes Best Tax & Accounting Firm

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For the second year in a row, MWE was named a Forbes Best Tax & Accounting Firm in America. MWE was one over 170 firms recognized in both the tax and accounting categories out of 18,000+ tax & accounting firms.

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Posted in Alerts, Featured Content

Upcoming Webinar: 2021 Tax Update

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Join MWE Partner Lance Christensen and SALT Director Joseph Pizzimenti on January 26, 2021 for an informative webinar presentation: “2021 Tax Update.” Hear the latest on corporate, individual and state and local taxes, and earn 2 CPE credits. Register today.

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Posted in Alerts, Featured Content

Margolin, Winer & Evens LLP Names Brian Doyle Partner

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Doyle specializes in the Real Estate, Financial Services Industries   As part of its continued transition to a new generation of leadership, CPA and business advisory firm Margolin, Winer & Evens LLP (MWE) announced the admittance of Brian Doyle, CPA, to the partnership.

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Posted in Alerts, Articles, Featured Content

COVID-19-Related Relief Is Signed Into Law

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Updated: January 7, 2021 On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (“The Act”). This was the fourth stimulus package passed in 2020 and comes after months of protracted negotiations. The Act contains numerous tax and nontax provisions and includes several extensions of popular provisions of earlier COVID relief…

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Posted in Alerts, Featured Content, Videos

2020 Gingerbread House Decorating Competition (@ home)

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Our annual Gingerbread House Decorating Competition was sweeter than ever – even though we participated from home! MWE employees got creative with their own themes in mind – check out their awesome designs!

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Posted in The Bottom Line, Featured Post, Infographics, Featured Content

Lowdown on charge card liability

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Infographic: Are you responsible for unauthorized charges if your charge card is stolen?

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Posted in The Bottom Line, Featured Post, General Business, Small Business, Featured Content

The QBI deduction basics and a year-end tax tip that might help you qualify

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If you own a business, you may wonder if you’re eligible to take the federal qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction.

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Posted in The Bottom Line, Featured Post, Estate Planning, General Business, Featured Content

Family business owners must weave together succession and estate planning

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It’s been estimated that there are roughly 5 million family-owned businesses in the United States. Annually, these companies make substantial contributions to both employment figures and the gross domestic product. If you own a family business, one important issue to address is how to best weave together your succession plan with your estate plan. Rise…

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