COVID-19 Resource Center

As the Covid-19 situation continues to change daily, we are taking precautions to keep our employees, families and clients healthy. Below is information covering tax updates and questions from our clients. We will closely monitor any new developments and as the landscape continues to evolve, we will keep you updated.

The House Passes Biden’s Build Back Better Act

On November 19th, the House passed the roughly $2 trillion Build Back Better Act. The bill includes income tax changes, expansion of current tax credits, support for health care, and measures to battle climate change.

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2021 Year-End Checklist

As we approach the final weeks of the year, there is still time to minimize your 2021 tax liability and get a jump start on your 2022 tax planning. This year likely brought challenges and disruptions that significantly impacted your personal and financial situation – a continued global pandemic, several significant natural disasters, new tax laws, and political shifts.

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Boost Your Organization’s Success – Proper Internal Controls

Internal controls are vital to every organization. These processes can be challenging for smaller organizations because of limited employee numbers and operating budget constraints. Management in small organizations takes on many duties that would ordinarily be separated in larger organizations.

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Business Continuation Planning – Is Your Company Prepared?

When COVID locked down the country, many companies had to scramble and implement a disaster recovery plan on the fly. What would the impact be on the business with the unexpected loss of a business owner due to disability or death? Having a proper plan in place when a business owner unexpectedly dies or becomes disabled can have a significant impact on both the survival and value of a company. Having a properly written Business Continuation Plan funded may help minimize the issues caused by the sudden loss of a business’s owner.

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Accounting and Tax Considerations for Expanding into the United States

MichaelSilver works with many international companies looking to start or expand their business in the United States. Typically, these companies are successful in their home country. The owners know the United States is the land of opportunity as well as the land of tax traps and legal problems. We share the common goal of wanting these businesses to succeed in their endeavors in the United States and we help them navigate the complexities of the United States’ business world.

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