Industry News: The pandemic pushed us forward. Let’s keep evolving

The pandemic pushed us forward. Let’s keep evolving



Continue the changes you’ve made into 2021 and beyond.
 

A close friend of mine had a slight stroke, and it changed his life for the better. He immediately made changes to his lifestyle, eating, and exercise habits. Today, he is healthier, happier, and more productive. All of these changes were things he kept making promises to do "someday," but that turned out to be a very risky idea.

Industry News: Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns

Industry News:   Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns  

Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns

 

The IRS announced a safe harbor for certain businesses that received first-round Paycheck Protection Program (PPP) loans but did not deduct any of the original eligible expenses because they relied on guidance issued before the enactment of the Consolidated Appropriations Act, 2021 (CAA), P.L. 116-260, in December 2020.

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Latest Articles

  • 17 Jun

    Taxpayer Filing Requirements for Foreign Accounts

    If your client has a financial interest in, or signature authority over, any foreign accounts, certain filing requirements with the U.S. Department of the Treasury, in addition to the Internal Revenue Service (IRS) may apply. Filing requirements may also apply to taxpayers that have direct... read more

  • 16 Jun

    Cyber Best Practices for Remote Work

    What cyber best practices does CAMICO recommend for remote work, given the pandemic’s "new normal?"

    The sudden transition to accommodate employees working remotely in response to the pandemic had many CPA firms rushing to establish or update their policies and security protocol... read more

  • 16 Jun

    Why It is Important to Maintain Prior Acts Coverage

    Do Not Lose Coverage for Your Prior Acts!



    Most Accountants Professional Liability insurance policies are “claims made and reported” policies. Two important features of claims made and reported policies include:

    1. The insurance applies only t... read more