The Biden Administration Tax Plan Road Map seeks to roll back some of the laws under the Trump Administration while expanding or waiting on others. Here is a summary of key features in the plan impacting individual or corporate taxes. U.S. Individual Taxes Biden’s plan seeks to increase the top individual tax rate from 37%...Continue Reading
Many companies look for creative ways to attract and reward key employees. In this video, Ryan Campbell, CPA, CVA and Andrew Labosier, CPA, CVA discuss stock options and stock appreciation rights (SARS) as part of executive compensation packages. You need to establish the base price for this type of compensation, which supports calculation of “fair...Continue Reading
HUNTSVILLE, ALA., FEBRUARY 2021 — Anglin Reichmann Armstrong is pleased to announce that Kami Minor has been promoted to Marketing and Communications Coordinator, effective February 1, 2021. Kami joined Anglin in May of 2019 as Solutions Administrator. As Marketing and Communications Coordinator, Kami will continue to create proposals on behalf of the firm for business development...Continue Reading
There are many reasons to proactively complete a business valuation. One of these times is during the illness or passing of an owner or shareholder. If this happens, your company is already working through a difficult situation and helping employees and clients process their grief or shock, so conducting a business valuation prior to this...Continue Reading
The Consolidated Appropriations Act (CAA), 2021 extends and expands the employee retention credit first created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The employee retention credit is designed to encourage businesses to keep workers on their payroll, supports small businesses and nonprofits experiencing economic downturn due to the COVID-19 pandemic. Eligible employers...Continue Reading
The Consolidated Appropriations Act (CAA), 2021 expands the Paycheck Protection Program (PPP) established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, that provides covered loans to assist small businesses with certain expenses incurred during the economic challenges due to the COVID-19 pandemic. The CAA, 2021 also clarifies the deductibility of certain expenses paid...Continue Reading
The Consolidated Appropriations Act, 2021 makes changes to two popular educational tax benefits. The above-the-line deduction for qualified tuition and related expenses is not extended and expires at the end of 2020. However, the modified adjusted gross income threshold for the lifetime learning credit is increased to allow more individuals to qualify. What is the...Continue Reading
The Consolidated Appropriations Act, 2021 extends the credit for coronavirus related paid sick and family leave, originally part of the Families First Coronavirus Response Act, through March 31, 2021. The Families First Coronavirus Response Act provides paid sick leave and expands family and medical leave for COVID-19 related reasons and creates the refundable paid sick leave...Continue Reading
Anglin Reichmann Armstrong is pleased to announce that Michelle Jenkins, CPA, MBA, will be promoted to Partner in the firm, effective January 1, 2021. Michelle joined Anglin in 2012 and was promoted to Manager in the Solutions Services Group a short time later. As a Partner, Michelle will continue to add her knowledge to the Government...Continue Reading
On December 27, 2020, President Trump signed a $900 billion COVID-19 relief bill that provides additional economic relief to individuals and businesses who have been financially impacted by the pandemic. The CARES Act, which was passed March of 2020, included a stimulus payment worth up to $1,200 for individuals or $2,400 for couples. The most...Continue Reading
