IRS Archives - Stellar Ledgers

Employee Retention Tax Credit for Businesses impacted by COVID-19

Apr 1, 2020 | Business, COVID-19, IRS, Taxes

The Treasury Department and the Internal Revenue Service launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business...

Tax Cuts & Jobs Act (TCJA) – Business

Feb 22, 2020 | IRS, Small Business, Taxes

The 2017 tax reform legislation or TJCA impacted both individuals and businesses. We will explore some of the major changes to the tax code as it relates to corporations, S-corps, partnerships, LLCs and sole proprietorships. Your business structure and accounting...

Annual Tax Filings for Business Owners w/ Contractors & Employees

Jan 30, 2020 | Business, IRS, Taxes

The start of the new tax season is underway and many business owners with independent contractors and/or employees on payroll will be filing Forms 1099-MISC and Forms W2 with the Internal Revenue Service. Here are some tips to help keep you in compliance this year as...

The Tax Cuts and Jobs Act (TCJA) – Individual Taxes

Sep 23, 2019 | IRS, Taxes

There are lots of changes to the tax code that many taxpayers will see during the 2018 tax reporting season. Taxpayers who have businesses that are pass-through entities will see these changes we will highlight here on their personal tax return. The summary below is...