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Written by Justin Prusiensky

Jul 26, 2019

July 26, 2019

Estimated Reading Time: 1 minutes 25 seconds

Dear GP CPA Client: 

 

At the rate the company is going, you will end up with an $18,000 tax bill at the end of year. 

With about 20 weeks left in the year, we would need to move your payroll up to about $1,000 per week (its currently at $500) and put most of the paycheck toward withholding taxes. The change in the weekly amount needed for payroll would be about $825 per week, which is roughly $18,000 over 20 weeks.

Connie can make the change as soon as you confirm that it is OK. 

I am in the office tomorrow from 10am – 2pm if you want to know more.

Sincerely,

Justin Prusiensky, CPA

GP CPA

Client’s response: 

 

Justin,

That’s fine thanks for the heads up. Do what is needed… thanks

GP CPA CLIENT

Company Name

The Employee Retention Credit (ERC)

The Employee Retention Credit (ERC)

The Employee Retention Credit (“ERC”) has had some upgrades and retrofits to some of the basic calculations with the most recent (12.27.20) CARES Act changes.

Good Riddance, 2020

Good Riddance, 2020

What is new in 2021? Meals in 2021 are once again 100% deductible, the next round of PPP funding is coming and the Employee Retention Credit (ERC) has been changed.

What Tax Breaks Changed From 2018?

What Tax Breaks Changed From 2018?

Congress extended some of the tax breaks retroactively to January 1, 2018. They now expire on December 31, 2020. Learn more about tax breaks that have been extended.

Dear Client, I have good news!

Dear Client, I have good news!

Since we now have less than 90 days left in the year, kindly keep me apprised of when you expect the major revenue collections to be during the next few weeks and we can adjust accordingly.

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