The Newsroom
Financial and Accounting Updates and Information from Maggart
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From the Monthly Newsletter...
Keeping Up with the Net Operating Loss Rules
When a trade or business’s deductible expenses exceed its income, a net operating loss (NOL) generally occurs. When filing your 2019 income tax return, you might find that your business has an NOL — and you may be able to turn it to your tax advantage. But the rules applying to NOLs have changed and …
Can You Qualify for the Payroll Tax Credit?
For many businesses, retaining employees has been difficult, if not impossible. If your company has been able to keep all or some of its workers, you may qualify for the payroll tax credit created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, known as the Employee Retention Credit. Assessing Your Qualifications The Employee …
Protecting Yourself from Opportunistic Fraud
The coronavirus (COVID-19) crisis has spurred much confusion and unprecedented economic challenges. It has also created ample opportunities for dishonest individuals and criminal organizations to prey on the anxieties of many Americans. As the year rolls along, fraud schemes related to the crisis will continue as well, potentially becoming even more sophisticated. Here are some …
