Deadline to return distributions to retirement accounts is Aug. 31

August 26, 2020

IR-2020-187, August 24, 2020 WASHINGTON — The Internal Revenue Service today reminds IRA owners, beneficiaries or workplace retirement plan participants who received a Required Minimum Distribution (RMD) this year that they have until August 31 to rollover or repay the distribution to avoid paying taxes. The Coronavirus Aid, Relief, and Economic Security Act, or CARES

Check out this article from Forbes: SBA Opens Up New Grants And Loans For Small Businesses And Independent Contractors: The EIDL Program

June 18, 2020

Click here to read the full article via Forbes By: Richard Harroch On June 15, 2020, the SBA announced that it was again opening up its Economic Injury Disaster Loan (EIDL) grant and loan program. This means that independent contractors, freelancers, and gig workers are eligible to receive a $1,000 grant that does not have

Check out this article from Journal of Accountancy: PPP forgiveness changes coming as Senate passes House bill

June 4, 2020

Click HERE to read the article via Journal of Accountancy By: Jeff Drew ( The U.S. Senate passed the House version of Paycheck Protection Program (PPP) legislation Wednesday night, tripling the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans. The bill passed

Promotion Announcement – Stephanie Spinucci, CPA

June 3, 2020

It is with great pleasure that we are announcing the promotion of Stephanie Spinucci, CPA as a Senior Tax Manager at The Lanning Group. Stephanie has worked with Carrie Lanning for close to fourteen years, climbing the ranks with her dedication and commitment to the firm. Stephanie has always shown initiative in the performance of

Promotion Announcement – Lucy Brenner, CPA

June 3, 2020

It is with great pleasure that we are announcing the promotion of Lucy Brenner, CPA as the new Director of Private Client Services. Lucy joined The Lanning Group in December 2017 and has worked as a Tax Manager until her promotion on June 1, 2020. She has an interest in specialized tax services such as multi-state, foreign,

Check out this article from Fortune regarding the PPP loan

May 29, 2020

House passes bill to extend 8-week period to spend PPP loans and alter the 75% rule Small businesses may soon find more flexibility in the Paycheck Protection Program (PPP) as a bill passed the House on Thursday that would extend the time in which businesses need to spend funds and alter the rule that they


May 4, 2020

Income Tax Payments: The following Federal and SC payments are due on July 15th: Amounts due with your 2019 return2020 Q1 Estimated Payments2020 Q2 Estimated Payments IRS Topics - Click to read more Deferral of employment tax deposits and payments through December 31, 2020 Get My Payment tool - Click to check the status of

Sitting on Appreciated Stock?

December 6, 2019

A lot of you may hold stock that has appreciated significantly, and you may be concerned about the tax hit you will face if you sold that stock. There are other options to selling which may provide a tax benefit for you and prevent or defer the recognition of capital gains. 1. Donate the stock

Hold yourself accountable using Accountable Plans

December 5, 2019

Many of you may have S corporations that are operated from your home. With tax reform, employee business expenses have been eliminated from itemized deductions, so your expenses have not been utilized. While home offices in S Corps are tricky, there is a way to have the business pay and deduct home office expenses via