The Consolidated Appropriations Act of 2021 (CAA) was signed into law in late December. The sprawling legislation contains billions of dollars in additional stimulus funding in response to the COVID-19 pandemic, as well as numerous unrelated provisions. Let’s take a closer look at the provisions that are most likely to affect your company’s bottom line. … Continued
President Trump signed into law billions of dollars in long-awaited COVID-19 and economic relief. The relief package is part of the nearly 5,600-page Consolidated Appropriations Act (CAA), which also contains numerous other tax, payroll and retirement provisions. Here are some of the provisions most likely to affect individual taxpayers. Recovery rebates The most headline-grabbing component … Continued
Hannis T. Bourgeois LLP is proud to announce Jenna Frederic, Jill Kindler, and Amanda Moss as Associate Partners of the firm effective January 1, 2021. “We are excited to welcome new associate partners to the firm, helping us ensure that we have expanded leadership to steward the firm for many years to come,” said Managing … Continued
Hannis T. Bourgeois LLP is proud to announce they have named Derek W. Foret and Mukti J. Patel Partners of the firm effective January 1, 2021. “These individuals make a positive impact on our clients, our people and our communities. They demonstrate a deep commitment to the development and growth of the firm,” said Managing … Continued
This afternoon the final text of the bi-partisan stimulus package was released. The legislation comes as part of the full government funding package. The entire measure must go through congressional procedure and to the President for signature, but since the points have been negotiated heavily and quick action will be required, it is anticipated that … Continued
On December 21, 2020, as part of the Consolidated Appropriations Act, 2021, Congress passed significant changes to the Paycheck Protection Program (PPP). This includes changes to existing loans and a second draw of PPP funds for eligible borrowers. Full Deductibility of Expenses The legislation provides full deductibility of covered expenses paid by PPP loans without … Continued
President-elect Biden campaigned on a broad agenda, including a pledge to roll back many of President Trump’s tax policies, most of which were enacted by the Tax Cuts and Jobs Act of 2017 (TCJA). In response Biden has promised a progressive approach to taxation, focused primarily on increasing the burden on businesses and high-income individuals. … Continued
The IRS has announced its 2021 cost-of-living adjustments to tax amounts that might affect you. Many increased to account for inflation, but some remained at 2020 levels. As you implement 2020 year-end tax planning strategies, be sure to take these 2021 adjustments into account in your planning. Individual income taxes Tax-bracket thresholds increase for each … Continued
Election years often lead to uncertainty for businesses, but 2020 surely takes the cake when it comes to unpredictability. Amid the chaos of the COVID-19 pandemic, the resulting economic downturn and civil unrest, businesses are on their yearly search for ways to minimize their tax bills — and realizing that some of the typical approaches … Continued
Hannis T. Bourgeois, LLP is pleased to announce that Lauren M. Fitch, J.D., has joined the firm as Director of Operations effective September 14, 2020. As Director of Operations, Mrs. Fitch will help oversee all business, financial and operational aspects of the firm’s offices in Baton Rouge, Denham Springs and New Orleans. “We are … Continued
