Catch ShindelRock’s Tax Tips for Business Owners on WJR-AM Radio

ShindelRock partner Maria Montie will be on WJR every weekday during tax season with helpful tax tips for small business owners. The first one runs this week:

$15 billion in pandemic relief for Shuttered Venue Operators coming soon

Applications will open soon for the $15 billion Shuttered Venue Operators (SVO) Grant program, administered by the SBA and created by the December 2020 Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act.  Funds are expected to be exhausted quickly,...

Employee Retention Tax Credit significantly modified and expanded for businesses

The recent Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, amended and extended the Employee Retention Tax Credit (ERTC) under section 2301 of the CARES Act.  Two key changes to the ERTC are: 1.  The ERTC is...

IRS delays start of 2020 tax filing season to Feb. 12, 2021

  • January 22, 2021
  • ShindelRock

The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.  It has advised people to file their returns electronically and...

Forgiveness application for PPP loans of $150,000 or less now available

The U.S. Small Business Administration (SBA) and Treasury published updated Paycheck Protection Program (PPP) loan forgiveness guidance and forms, including a one-page application for borrowers that received a PPP loan of $150,000 or less: PPP Loan Forgiveness Application Form 3508S.  The...

New year is good time to review basic rules surrounding Forms 1099-MISC and W-9

For most businesses, January means the annual completion of Forms 1099-MISC, which makes this a good time to review the basics surrounding this standard reporting procedure.  In general, amounts paid in the course of your trade or business to a...

Two new relief programs open to Michigan small businesses hurt by pandemic

The state of Michigan has authorized a $58.5 million grant program for businesses hurt by the 2020 pandemic, split into two separate programs: Michigan Small Business Survival Grant Program, a $55 million program with grants of up to $20,000 to help...

Take five minutes to secure your tax return from identity theft

The IRS has provided a new way taxpayers can help prevent a tax return being filed under their name and SSN. The recently expanded Identity Protection PIN Opt-In Program provides a six-digit code known only to the taxpayer and to the IRS....

$900 COVID-19 Relief Bill offers new help for individuals and businesses

Congress approved a long-awaited and far-reaching $900 billion pandemic rescue package.  The bill will include direct payments of up to $600 per adult and dependents (for those making less than $75,000 a year filing single or $150,000 married filing jointly), although there...

SR Client Question: Do I need to refile my unemployment claim to receive extended benefits?

The newly passed COVID-19 Relief Bill offers extended federal unemployment benefits for states like Michigan.  It appears, at least at this time, that recipients currently receiving unemployment benefits do NOT need to refile to be eligible for the extension.  There...