The CARES Act – Tax Highlights

Phase 3 of the COVID-19 stimulus package (the CARES Act) was just signed by President Trump.  The CARES Act includes several income tax provisions that attempt to lessen the impact and encourage individuals and businesses to keep putting money back into the economy.  See  https://mwbpc.com/the-cares-act-business-highlights/ for the business highlights of the CARES Act.   Business [...]

By |2020-03-27T23:18:14+00:00March 27th, 2020|COVID-19, General, Tax|0 Comments

The CARES Act – Business Highlights

Phase 3 of the COVID-19 stimulus package (the CARES Act) was just signed by President Trump.  This legislation is unprecedented in both size and scope. It is clear that the Federal government is pulling every lever possible to mitigate the economic ramifications of the coronavirus pandemic. It appears Congress is opening every liquidity spigot at [...]

By |2020-03-27T23:20:32+00:00March 27th, 2020|Audit, COVID-19, General|0 Comments

Business Response in Times of Crisis

As the COVID-19 global pandemic continues to alter society in unprecedented ways, it has become evident that, while necessary, the steps being taken by government officials to minimize the human lives lost will result in a severe economic contraction. What is unclear is the scope of those costs. Federal, state and local governments have already [...]

By |2020-03-27T19:39:22+00:00March 23rd, 2020|COVID-19, General|0 Comments

Families First Coronavirus Response Act

The Families First Coronavirus Response Act, the second coronavirus emergency aid package, was signed into law by President Trump on the evening of March 18, 2020.  Only a small part of the legislation contains tax provisions; while the rest of the bill primarily focuses on funding for increased COVID-19 testing, providing free testing for everyone, [...]

By |2020-03-27T19:39:37+00:00March 20th, 2020|COVID-19, General, Tax|0 Comments

April 15 – Still must file – but may be able to wait to pay income tax balance due and estimated taxes due

Secretary of the Treasury Mnuchin announced an extension of the April 15 tax payment deadline for most individuals and businesses, giving 90 extra days to pay 2019 income tax bills and quarterly income tax estimates.  Taxes due with individual income tax returns can be deferred up to $1 million in income tax payments (including self-employment [...]

By |2020-03-27T19:39:59+00:00March 19th, 2020|COVID-19, General, Tax|0 Comments

Coronavirus and how it affects your business continuity and/or disaster recovery

Now that COVID19 has been declared a pandemic, businesses must assure they have a continuity plan and/or disaster recovery plan in place.  As the situation escalates, we will continue to face emergency planning issues.  The health of ourselves and employees, while preserving business continuity, are key to navigating the issue.  Strong planning, the ability to [...]

By |2020-03-27T19:40:21+00:00March 13th, 2020|COVID-19, General|0 Comments

It’s Not Too Late to Bring Down Your Tax Bill

Meara Welch Browne’s Tax Partner, Julie Welch, was quoted in CNBC's Grow.Acorns.com "It's Not Too Late to Bring Down Your Tax Bill From 2018 - Here's How" written by Sam Becker.  The article outlines the last-minute technique of contributing to an Individual Retirement Account. You can read her quotes and the entire article on CNBC's [...]

By |2019-04-11T11:34:43+00:00April 11th, 2019|General, Tax|Comments Off on It’s Not Too Late to Bring Down Your Tax Bill

Julie Welch Quoted in The Washington Post on April 4, 2019

Meara Welch Browne’s Tax Partner, Julie Welch, was quoted Thursday in The Washington Post – “Personal Finance” section.  In the article titled "The April 15 tax deadline is close. Why you should file on time.” by Michelle Singletary, Julie answered what has been frustrating people most during this tax season. You can read her quote [...]

By |2019-04-04T13:19:32+00:00April 4th, 2019|General, Tax|Comments Off on Julie Welch Quoted in The Washington Post on April 4, 2019

How to Use The New Tax Law to Cut Your Tax Bill

Meara Welch Browne’s Tax Partner, Julie Welch, was quoted in "How to Use The New Tax Law to Cut Your Tax Bill" written by Robert Powell and published in TheStreet.  The article outlines opportunities for those saving for retirement to cut their tax bill this year and in years to come. You can read her [...]

By |2019-03-07T15:43:13+00:00March 7th, 2019|General, Tax|Comments Off on How to Use The New Tax Law to Cut Your Tax Bill