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Employee Retention Credit Extended and Expanded
President Joe Biden recently signed into law the American Rescue Plan Act of 2021 (ARPA), considered to be one of the largest economic rescue packages in US history. Under the ARPA, the Employee Retention Credit (ERC) for small businesses is extended until December 2021. With this, the IRS issued detailed guidance for employers claiming the employee…
Read MoreSan Francisco Voters Approve Increase in Gross Receipts Tax and New Tax on CEO Pay
On November 3, 2020, San Francisco voters approved two new tax measures impacting corporate taxpayers. Both measures were passed by voters with overwhelming majorities. Proposition F, or the Business-Tax Overhaul, supported by 68% of voters, will be effective in 2021. The measure provides relief for small businesses by raising the exemption ceiling for both business…
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