Archive for June 2020
Bookkeeping tips for personal property tax tracking
Many counties assess and charge what is known as personal property tax (PPT). PPT is a tax based on a percentage of the assessed value of items and equipment, used in your business, that does not form part of immovable property. (Vehicles are typically excluded from this type of tax.) These tax filings can be…
Read MoreCares Act Education Benefits
If an educational fringe benefit would help you attract or retain employees, then you will be interested in a little-known section of the CARES Act. It allows an employer to pay and deduct up to $5,250 of an employee’s higher education student loan debt – both principal and interest, if paid by December 31, 2020. The benefit is not taxable to the employee.
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