Five-Minute Tax Briefing from our friends at Thomson Reuters

February 22, 2021

Item for Monday, February 22, 2021 IRS Notices Possibly Sent in Error:  Earlier this month, the IRS issued notices to approximately 260,000 taxpayers stating they haven't filed their 2019 federal tax return. These notices, referred to as CP59 notices , are issued yearly to identified taxpayers who have failed to file tax returns due the

From our friends at Shumaker, Loop & Kendrick, LLP

February 18, 2021

"Our firm is seeing a fair number of instances where clients have contiguous lots to their primary residence and are unaware that you can qualify for the residential 4% property tax assessment on your primary residence and up to 5 contiguous acres (in addition to other dwellings occupied by immediate family members on the contiguous

Introducing…

February 18, 2021

Jamal Sangster, TLG Intern Jamal is originally from Chicago, IL and attended Benedict College and Strayer University.  He decided to pursue accounting because he enjoys working with numbers.  Jamal's experience includes entity tax returns, and he is excited to learn more about individual tax during his internship with TLG.  Jamal’s hobbies include cooking and grilling

Wondering if any of the COVID relief programs apply to you?

February 17, 2021

CLICK the following topics to find out more. COVID-19-Related Tax Credits: Basic FAQ FAQs: Employee Retention Credit under the CARES Act Deferral of employment tax deposits and payments through December 31, 2020 https://www.taxpayeradvocate.irs.gov/covid-19-home/biztaxrelieftool/ Click the Download button to read about the topic. Employers may claim an employee retention tax creditDownload IRS issues guidance on CARES

DON’T MISS YOUR CHANCE TO GET THE SECOND ROUND OF PPP LOANS

January 22, 2021

To usher in 2021 and provide much needed COVID relief, the SBA resumed the Paycheck Protection Program on January 11. While the first week of the program was available only to select small businesses, the program opened for all on January 19. This second round of funding is available for both first- and second-time borrowers

Introducing SafeSend Returns

January 22, 2021

Beginning in January 2021, we will be implementing our new tax return delivery software, SafeSend Returns. This new platform will automate the delivery, review, and signature of your federal and state income tax returns from the convenience of your computer, smartphone, or tablet. SafeSend Returns is user-friendly, highly secure, IRS approved, and an easier way for

More Coronavirus Relief is Here

December 29, 2020

More Coronavirus Relief is Here(this time you are going to like it!) Surprise, surprise – it seems there was some holiday cheer on Capitol Hill, and a long-anticipated COVID relief bill was passed late last night. Below are a few highlights from the bill expected to be signed by the President this week. Individual Updates

No forgiveness: Small businesses still on hook for rescue loans

September 28, 2020

Click here to see the article. When the government pledged to give small businesses billions of dollars in rescue loans during the pandemic, it was an offer almost too good to refuse: The loans could be forgiven if employers only maintained payroll. In little more than four months, the Paycheck Protection Program doled out $525

TLG at 100 Hole Hike Golf Marathon Benefitting First Tee

September 28, 2020

The mission of The First Tee of Greater Charleston is to positively impact the lives of our local youth by providing structured educational programs that build character, instill life-enhancing values and promote healthy choices through the game of golf. On September 28, 2020, golf enthusiasts will take the formidable challenge to play 100 holes of

A More Impactful Alternative to Paying Your SC Quarterly Estimates

September 1, 2020

State tax credits offset your SC tax liability dollar for dollar and can take the place of estimated tax payments and/or SC withholding. South Carolina offers several credits that not only benefit the taxpayer, but serve SC special needs students, start-up companies, and local businesses. While the below list below is far from all-encompassing, we