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Aug 9, 20211 min read
2021 Q3 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind...
Aug 9, 20212 min read
10 facts about the pass-through deduction for qualified business income
Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to...
Aug 4, 20212 min read
Is an LLC the right choice for your small business?
Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your...
Aug 4, 20213 min read
5 possible tax aspects of a parent moving into a nursing home
If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications....
Aug 4, 20212 min read
Get serious about your strategic planning meetings
Most business owners would likely agree that strategic planning is important. Yet many companies rarely engage in active measures to...
Jul 28, 20212 min read
Recordkeeping DOs and DON’Ts for business meal and vehicle expenses
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have...
Jul 28, 20212 min read
5 ways to take action on accounts receivable
No matter the size or shape of a business, one really can’t overstate the importance of sound accounts receivable policies and...
Jul 28, 20212 min read
Many parents will receive advance tax credit payments beginning July 15
Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit...
Jul 8, 20211 min read
MN Tax Code Changes
On July 1, 2021, Minnesota tax code changes were signed into law. There were several changes signed into law but the most notable were...
Mar 26, 20205 min read
Family First Federal Aid – What You Need To Know About Benefits
Updated as of March 26, 2020 On April 1, 2020 The Family First Coronavirus Act (HR 6201) will go into effect (date change per DOL...
Mar 24, 20201 min read
SBA Disaster Assistance: Be Ready to Apply
Updated as of March 23, 2020 As the spread of COVID-19 continues, more states will become eligible for disaster assistance by the US...
Mar 19, 20201 min read
Sales Tax Grace Period Allowed For Certain Businesses
Updated as of March 17, 2020 Minnesota Department of Revenue has extended the Sales and Use Tax Payment deadline by 30 days for...
Mar 19, 20201 min read
IRS Postpones Tax Day & Payment Due Date
Updated as of March 23rd, 2020 The IRS and the Treasury Department has issued guidance (Notice 2020-18) postponing the tax filing due...
Mar 18, 20201 min read
Official Statement on Coronavirus (COVID-19)
Updated as of March 17, 2020 At JMSC, the health and safety of our clients and employees is our top priority. We are monitoring the...
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