Business Tax Resources

What are the Pros and Cons of Roth IRAs?

What are the Pros and Cons of Roth IRAs?

Saving for retirement is important, and the sooner you start planning, the better. Even though Roth IRAs have been around for more than a decade, many people are not aware of exactly how they work.

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IRS Formally Clarifies PPP Expense Position

IRS Formally Clarifies PPP Expense Position

The IRS issued Revenue Ruling 2020-27 on November 18th, formally denying the ability to deduct expenses related to PPP forgiveness. In the ruling, the IRS clarified the deduction for PPP expenditures is denied in the period the expenses were incurred (2020), even if the taxpayer waits until 2021 to apply for forgiveness.

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