January 5, 2016
As a part of our new and improved Website www.lbfcpa.com we welcome you to our firm Blog. Various members of our firm will be writing a short blog to keep you updated and informed with pertinent information relating to tax, accounting, business and financial updates.
Log ins from our website on every page
From our site you will be able to log in to your 24/7 online access where you can find your tax returns, financial statements and securely transmit information to us.
There is also a login for those of you using QuickBooks Online and Remote QuickBooks Desktop. These logins are available in the Client Center which is on every page of our site.
24/7 Access to your personal and company information
If you want to have 24/7 Client Access please contact our office to have this set up for you. Either call us at 248-932-0040 or email us at firstname.lastname@example.org
You can also find links to websites and various forms that we feel may be beneficial to our clients, business associates and prospective clients are available on the site.
We'd like to draw your attention to the new 1099 forms for 2021. If you (as a business) prepare your own 1099’s, please be aware of the changes:
1099-NEC: This form reports nonemployee compensation and/or nonqualified deferred compensation (NQDC). If you are in the trade or business of catching fish, Box 1 may show cash you received for the sale...
We are pleased to announce that Congress changed some of the PPP rules over the weekend. It is important to note that several of the rules have been relaxed; those of you who were getting close to the end of your “8 week window” can now take a deep breath, as that period has been extended. As always, we are staying up-to-date as the new rules are rolled...
Many of you reading this have received, or will soon receive, the Payroll Protection Program (PPP) loan. And that’s good news. Not surprisingly, however, this distribution now shifts the focus to “what qualifies as forgiveness under this program?”
As of now if you spend at least 75% on payroll costs over an 8-week period, from the date you received the funds,...