What do Biden’s tax proposals mean for YOU?

What do Biden’s tax proposals mean for YOU?

As election season comes to an end, it’s a good time for us to look at what President-Elect Joe Biden’s tax proposals mean for Americans. We’ll stick to the facts and keep our opinions out of it!  There’s been a lot of talk surrounding Biden’s plan to raise taxes on...
Working from Home & Tax Nexus

Working from Home & Tax Nexus

In the months since COVID-19 has taken our country by storm, thousands of Americans have transitioned to working at home. It has caused many companies to introduce or expand a remote work policy for their employees.   “Nexus” is a term used to describe a situation in...
IRS Lists “Dirty Dozen” Tax Scams of 2020

IRS Lists “Dirty Dozen” Tax Scams of 2020

Every year, the IRS compiles a list of common tax scams plaguing taxpayers each year. In a recent Information Release, they have announced the 2020 version of their annual “Dirty Dozen” tax scams to look out for. This year, the “Dirty Dozen” list focuses on scams that...
Are you missing out on a $250,000 tax credit?

Are you missing out on a $250,000 tax credit?

Consider this blog post a PSA: your qualified small business may be eligible to apply for up to $1.25 million (or $250,000 each year for five years) of the federal Research & Development (R&D) tax credit. This payroll tax election is intended to offset the...
How to Protect Your Business from Cybercriminals

How to Protect Your Business from Cybercriminals

With an abundance of time at home, newfound unemployment, and a volatile economy, cybercrime is at an all-time high. Not to mention – more information has been forced to go online than ever before, leaving citizens vulnerable to cybercriminals, who take advantage of...
Paycheck Protection Program Loan – A Follow-Up Blog

Paycheck Protection Program Loan – A Follow-Up Blog

Last month’s blog covered the details of the Paycheck Protection Program (PPP) Loan – a specific part of House Resolution 748 – the Coronavirus Aid, Relief, and Economic Security (CARES) Act. To no surprise, there was some additional follow-up legislation regarding...
Paycheck Protection Program (PPP) Loan Explanation

Paycheck Protection Program (PPP) Loan Explanation

In a normal world, laws and guidance associated with federal and state taxation with clearly defined rules and guidelines are already difficult enough to interpret. But as with many things in this COVID-19 impacted world, “normal” is now out the window, even when it...
List of Extended Federal Tax Deadlines due to Coronavirus

List of Extended Federal Tax Deadlines due to Coronavirus

We at Culpepper CPA understand that these unprecedented times are challenging for people all over the world. Multiple deadlines have been extended to alleviate financial stress on Americans, as well as to reduce contact between individuals until we know more about the...
UPDATE: CARES Act – Federal Tax Relief Explanation

UPDATE: CARES Act – Federal Tax Relief Explanation

While there are still some things up in the air right now, we wanted to follow up on our previous blog, which you can read here, to provide an update and add some clarity to the recent Coronavirus-related tax legislation that has been enacted in attempts to help...

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