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Employee Retention Tax Credit Creates Tax Refund Opportunities

The Consolidated Appropriations Act of 2021 that was signed into law on December 27, 2020, expanded which employers are eligible for Employee Retention Tax Credit (ERTC) in 2020 as well as extended the ERTC into the first two quarters of 2021. The ERTC is a refundable payroll tax credit that was first introduced by the […]
January 22, 2021

Maryland’s Pass-through Entity Tax Election: Is There a Benefit for Restaurants, Hotels, Distributors and Retailers?

Recent IRS and Maryland publications have provided additional guidance and clarification on Maryland’s pass-through entity (PTE) tax election. The election is a response to the Tax Cuts and Jobs Act of 2017 (TCJA) limiting the state and local tax (SALT) deduction to $10,000 and decreasing many taxpayers’ total itemized deductions. After dispelling some of the […]
January 22, 2021

Paolo Astorga

Paolo Astorga is an Associate for Aronson’s Tax Services Group.
January 22, 2021
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  • mouttarac

FAQs – How To Use SafeSend Returns

Aronson LLC uses SafeSend Returns, a user-friendly and highly secure technology that allows you to manage your tax returns from the convenience of any mobile device. What are the benefits to you, the client? You will be able to electronically view, sign, save and print your tax documents. You will have access to your tax […]
January 22, 2021
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  • mouttarac

The Paycheck Protection Program and The Economic Aid Act: What Does it all Mean?

Signed into law on December 27, 2020, The Consolidated Appropriations Act, 2021 included $900 billion in stimulus relief, including $284 billion of additional Paycheck Protection Program (PPP) funding via the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act). Those that did not receive a First Draw PPP Loan (or that […]

Proving the U.S. Tax Efficiency of the GILTI High-Tax Exception

The Tax Cuts and Jobs Act (TCJA) brought significant changes to the U.S. international tax rules in December 2017. A new GILTI reporting rule currently applies to U.S. shareholders of controlled foreign corporations (CFCs). GILTI prevents U.S. shareholders from deferring U.S. federal tax on earnings of CFCs. U.S. shareholders of CFCs are subject to GILTI […]
January 14, 2021

New COVID-19 Economic Relief Bill Creates Opportunities for Restaurants, Hotels, Distributors, and Retailers

On December 27, 2020, the Consolidated Appropriations Act of 2021 (Act) was signed into law. This legislation provides various benefits to those who have suffered an economic fallout from the pandemic, which has greatly impacted business owners in the restaurant, hotel, distribution, and retail industries. Below is an overview of what the new Act entails. […]
January 14, 2021

Tax Impacts of the Consolidated Appropriations Act

On December 27, 2020, Congress signed into law the Consolidated Appropriations Act, 2021 (the “Act”) which includes a COVID-19 stimulus package and a 2021 spending bill. Most notably, the Act allows for deductions of expenses paid with forgiven PPP loan proceeds. Some of the other key points addressed by this act are provided below. CARES […]
January 13, 2021

Claire Mudd

Claire Mudd is an Associate in Aronson’s Assurance Services Group.
January 13, 2021
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  • mouttarac

Act Now – Estate Tax Changes on the Horizon – Time to Value Your Construction Company

Do you know how much your construction company is worth? You may have at one time, but today’s value is not likely the same as the last time you prepared a proper valuation. Knowing the value of your company should be an important part of your annual business planning. Under the Biden plan, the estate […]
January 11, 2021

Aronson LLC Names New Tax Partner Alison Dougherty

Rockville, MD, January 11, 2021 — Aronson LLC, a nationally ranked top 100 assurance, tax, and consulting firm, is pleased to announce the appointment of Alison Dougherty as a new partner, effective January 1, 2021. Alison is a licensed CPA and holds a Master of Laws and Juris Doctor. She specializes in international tax reporting, […]
January 11, 2021

New Retirement Plan Provisions Under the Consolidated Appropriations Act, 2021

The recent Taxpayer Certainty and Disaster Tax Relief Act of 2020 and the COVID-19 Related Tax Relief Act of 2020 are both part of the Consolidated Appropriations Act, 2021. The Acts contain various retirement plan changes. A brief summary of the related provisions is provided below: Temporary partial plan termination relief has been provided. Under […]
January 6, 2021