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  • The PB NewsBlog

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    The PB NewsBlog: March 25, 2021

    Welcome to the weekly roll-up of the Porte Brown NewsBlog.
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    Porte Brown Recognized by Accounting Today as a 2021 Firm to Watch & Regional Leader

     
     
    Accounting Today 2021 Regional Leader
    Porte Brown is pleased to announce the firm has been named to Accounting Today’s “Firms to Watch” list in this year’s “Top 100 Firms and Regional Leaders” report. This survey and awards program is designed to identify, recognize and honor the best employers in the accounting industry, benefiting the industry's economy, workforce and businesses. More than 400...
     
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    IRS Extends the Tax Filing and Paying Deadline for Individuals

     
     
    Tax Time Extended
    The IRS has announced that the federal income tax filing deadline for individuals for the 2020 tax year is extended from April 15, 2021, until Monday, May 17, 2021. Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest...
     
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    Big Changes to the Child Credit for 2021

     
     
    Big Changes to the Child Credit for 2021
    The American Rescue Plan Act (ARPA) significantly liberalizes the rules for the federal child tax credit, which means more money in the pockets of eligible parents this year. However, the liberalizations are only for the 2021 tax year.
     
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    Effectively Use Credit to Finance Controlled Revenue Growth

     
     
    Effectively Use Credit to Finance Controlled Revenue Growth
    If you find your company gaining a large influx of projects, the biggest problem will be the boost in the amount of capital you will need in comparison with your cash flow. A jump in new jobs can strain your firm's resources, challenging the firm's capacity to hire field crews, its technology infrastructure and its cash flow. The upside, of course, is that a...
     
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    Make the Most of the Employee Retention Credit

     
     
    Make the Most of the Employee Retention Credit
    The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during the COVID-19 pandemic, has been with us for a year. But questions about it remain for many employers. With the new American Rescue Plan Act (ARPA) extending the credit and expanding eligibility — and the credit worth as much as...
     
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    The Magic Behind Writing Your Plans Down

     
     
    The Magic Behind Writing Your Plans Down
    For nearly 5,500 years, human beings have written things down. From Hammurabi’s Code and the U.S. Constitution to your personal business plans, writing things down helps people follow rules and best practices, and pursue goals and action items. However, many successful business owners don’t have any written plans they can follow to help them achieve the future for...
     
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    Tax Angles When Converting a Home into a Rental Property

     
     
    Rental Agreement
    If you're having a tough time selling your home in today's market, one option is to convert it into a rental property. That way, you can hang in there until the local real estate market rebounds. Meanwhile, you can probably shelter most or all of the rental income with tax deductions, including depreciation write-offs.
     
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