BRSW Information Updates from Recent Tax Law Change

We would like to share letters with you that contain information on Individual, Business, and PPP Updates after the recent tax law update at the end of December 2020. To read the letters, click on the links below: BRSW Business Tax Update December 2020 BRSW Individual...

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Congress Passes New Relief Bill

On Monday 12/21/20, Congress passed the Consolidated Appropriations Act, 2021, which provides tax deductibility for business expenses paid with forgiven Paycheck Protection Program (PPP) loans, provides additional opportunities for PPP funding, gives $600 stimulus...

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IRS Identity Protection PIN Program Available Soon

The IRS has announced that their IRS Identity Protection (IP) PIN Program will be available to all taxpayers in January. While this is not a mandatory program, taking advantage of this program can increase the security of your tax return filing. The IP Pin is a 6...

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PPP Tax Planning Issues and Update

Recently the IRS issued guidance stating that taxpayers must consider expenses paid with PPP funds as non-deductible expenses even if forgiveness applications have not been approved by December 31, 2020 or if forgiveness applications have not been submitted by...

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Additional Information on Ohio Grant

**This is a followup to the Grants Available for Eligible Ohio Small Businesses Impacted by COVID web post from 10/29/20** When working with businesses on this Ohio Grant we became aware of the following item that applicants must attest to being true: I certify that...

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Farmer Year End Planning Options

Farmers can use deferred payment contracts and prepaid crop inputs as part of their year end planning. You can read our summary by clicking on the link below. Deferred Payment Contracts and Prepaid Crop Inputs Summary

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