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World Backup Day

How often do you get annoying messages popping up on your phone saying… “Your iPhone has not been backed up for 32 weeks.”  You click OK, ignore it, and move on. Admit it—you saw the message for multiple weeks, yet…

March 31, 2022
| Mark Finstrom

Tax Tips: Business Loss Limitation

Business loss limitation rules are back in play for the tax year 2021. This means that if you have total business losses in excess of $262,000 (unmarried) or $524,000 (married) your deductions will be limited to that threshold even if…

March 15, 2022
| Mary Hlebechuk

100% Meals Deduction for 2021 and 2022

Since 1986, lawmakers have limited business meal deductions—most recently to 50 percent. This was meant to prevent the abusive “three martini lunch.” But on December 27, 2020, in an effort to help the restaurant industry due to the COVID-19 pandemic,…

March 8, 2022
| Carrie Christensen

Tax Tips: Charitable Contributions

Roughly nine out of every ten taxpayers take the standard deduction instead of itemizing.  In an effort to encourage people to give to charitable organizations, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 allows a charitable deduction up…

March 1, 2022
| Barbara Carr

Tax Tips: Employee Retention Credit

Does your business qualify?  What is it?  The Employee Retention Credit (ERC) is a refundable tax credit against certain payroll taxes for wages paid after March 12, 2020 through September 30, 2021.  If wages were paid during this time…

February 22, 2022
| Joei Tieman