Virginia Tax Conformity is Now Law

…Loan Forgiveness and Business Expense Deductions While Virginia conforms to the federal tax exemption for Taxable Year 2020 for Paycheck Protection Program (“PPP”) loan forgiveness and certain funding received under…

Overview of CAA 2021 Tax Provisions for Businesses

…for qualifying property and the deferral of capital gain for dispositions of qualifying assets, and Paycheck Protection Program Loan Forgiveness Clarifications of tax consequences of PPP loan forgiveness COVIDTRA clarifies…

Preventing Ransomware: What Nonprofits Need to Know

…awareness training. Since email is a primary vector for cyberattacks, including ransomware, your nonprofit can help employees ward off threat actors by implementing certain email protection controls, to include: Attachment…

COVID-19 Impact on Retirement Planning

…containment efforts. There has been a lot of coverage of the stimulus and the Paycheck Protection Programs, but the relief efforts have also included significant changes to retirement plans. Has…

Virginia Income Tax Conformity Update

…COVID-19 business assistance programs The law provides the following regarding COVID-19 business assistance programs: Retroactively allows the up to $100,000 Virginia-specific deduction for Paycheck Protection Program (“PPP”) loan forgiveness recipients…