Business Finance
Possible Tax Changes on the Horizon: A summary of President Biden’s Budget proposals
By Joseph A. Mastriani, CPA/PFS, CFP | Shareholder| Buckno Lisicky & Company CPAs The Biden administration released its “Green Book” of revenues and policy proposals on May 28, 2021. The focus of the plan is to extend the tax breaks enacted as part of the American Rescue Plan Act for lower- and middle-income taxpayers. These tax…
Read MoreHighlights of the 2nd round of PPP loan provisions included in the Coronavirus Relief bill recently signed into law on December 27th
By Joseph A. Mastriani, CPA/PFS, CFP, Shareholder | Buckno, Lisicky & Company The new legislation allocates around $284 billion and refers to the new loans as second draw loans. The loan limit is $2 million, and the amount a small business will qualify for is determined by taking their average monthly payroll in 2019 and multiplying…
Read MoreHow Might Taxes Change Under President-Elect Biden
How Might Taxes Change Under President-Elect Biden By Joseph A. Mastriani, CPA/PFS, CFP | Shareholder| Buckno Lisicky & Company CPAs With the official presidential transition underway, in addition to all 50 states having certified their presidential election results, President-elect Joe Biden will be inaugurated on January 20th as the 46th President of the United States. …
Read MorePayroll Tax Deferral
By Joseph A. Mastriani, CPA/PFS, CFP, Shareholder | Buckno, Lisicky & Company I want to make you aware of the most recent guidance from the U.S. Treasury and the IRS regarding the August 8 presidential executive order allowing for the deferral of the employee portion of Social Security taxes. This order, signed by the President,…
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