Are PPP Expenses Deductible? No, But…

Are PPP Expenses Deductible? No, But…

TAX Are PPP Expenses Deductible? No, But… Ryan McDonell Tax Manager, CPA 30 November 2020 The Paycheck Protection Program (PPP) was implemented as part of the CARES Act back in March of 2020 when uncertainty around COVID-19 was ramping up. PPP provided borrowers with...
Repeal of Parking UBTI

Repeal of Parking UBTI

TAX Repeal of Parking UBTI Ryan J. McDonell, CPA 7 January 2020 The Tax Cuts and Jobs Act tax reform in 2017 added (to the dismay of many) IRC section 512(a)(7) which effectively created unrelated business taxable income (UBTI) for the expenses of providing qualified...
Year-end Navigation for Individual Tax 2019

Year-end Navigation for Individual Tax 2019

TAX Year-end Navigation for Individual Tax 2019 17 December 2019 Lucy Luo, CPA Tax reform significantly altered the U.S. taxation system for the 2018 tax year. We have completed our initial pass through the maze and now it’s time to navigate the tax issues for the...