BHT&D Certified Public Accountants Blog

Section 139 Qualified Disaster Relief Payments Excludable From Gross Income

Posted by Lori Shepard on Thu, Dec 03, 2020 @ 07:00 AM

Section 139 of the Internal Revenue Code excludes from a taxpayer’s gross income certain payment to individuals to reimburse or pay for expenses related to a “qualified disaster”.  Covid-19 is a federally declared disaster.

Read More

Tags: Tax Planning, Small Business, Individual Tax, COVID-19, Work From Home

Unemployment Benefits for Self-Employed Workers And Individuals With Limited Work History

Posted by Karly Morris on Thu, Apr 16, 2020 @ 10:00 AM

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on Friday, March 27th, 2020 and went into effect on April 1st, 2020. This blog post focuses in on the expansion of unemployment benefits for individuals including the self-employed and individuals with limited work history.

Read More

Tags: COVID-19, Michigan Unemployment, CARES ACT, Federal Unemployment, Self Employed

2020 CARES Act Individual Provisions

Posted by Chuk Gottschall on Mon, Apr 13, 2020 @ 12:00 PM

A summary of major provisions of the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act affecting individual taxpayers:

Read More

Tags: COVID-19, CARES ACT, Federal Unemployment

IRS Extends Federal Tax Return Filing Date; Issues Update On Families First Legislation

Posted by Joe Turnes on Tue, Mar 24, 2020 @ 12:00 AM

The Internal Revenue Service has extended the federal tax return filing date from April 15, 2020 to July 15, 2020

They have also issued an update on their plan to implement the new paid leave provisions of the Families First Legislation.

The following are other tax related deadlines as of this posting:

Read More

Tags: Business Tax, Individual Tax, COVID-19, Paid Sick Leave, Family First Legislation, Tax Filing Deadline

COVID-19 Federal and Michigan Unemployment Updates

Posted by Dwayne Houghton on Fri, Mar 20, 2020 @ 01:56 PM

To answer questions about paid sick leave and unemployment, we are providing a chart about recent federal and Michigan state updates.

The comprehensive chart answers questions about:

Read More

Tags: Michigan, COVID-19, Paid Sick Leave, Michigan Unemployment