Ways to Prevent Staff Discipline and Termination in Self-Storage and What to Do When You Can’t
Staff discipline can be unpleasant but necessary. Handled correctly, it’s an opportunity for team improvement. Learn ways to prevent the need for corrective action in your self-storage operation and how to proceed when it becomes inevitable. The most unfortunate part of being a self-storage supervisor is having to occasionally discipline or even terminate employees. The […]
Top 5 Midwestern Markets for Multifamily Development
Construction projects in five metros account for more than 60 percent of the region’s units underway, according to Yardi Matrix data. As the COVID-19 pandemic presents larger challenges for all real estate asset types, development in the Midwest’s multifamily sector continues to move forward. Although fewer new projects are breaking ground and construction timelines are being […]
Americans on the Move: How We Relocated in 2020
Each year, United Van Lines surveys its customers on how its trucks and vans are used for relocation. In 2020, trends regarding Americans on the move mirrored recent years with a clear uptick in relocation from city life associated with COVID-19. The company’s 44th Annual National Migration Study, reveals in 2020 that Americans continued to move […]
What type of real-estate investment is right for you?
5 strategies to consider Investing in real estate could be a smart financial decision with proper planning and budgeting. Real estate tends to appreciate in value over time, can act as a hedge against stock market volatility, offers great tax advantages and can provide a stable monthly income. All things considered, buying property represents one […]
PPP loans have reopened: Let’s review the tax consequences
The Small Business Administration announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during the COVID-19 crisis (or you received one last year), you may wonder about the tax consequences. The CARES Act, which passed in March of 2020, didn’t address whether expenses paid with the proceeds of PPP loans could be deducted on tax returns. The IRS took the position that these expenses weren’t deductible. However, the new Consolidated Appropriations Act allows expenses paid from the proceeds of PPP loans to be deducted. Contact us with questions or if you need help with the PPP loan application or forgiveness process.
One reason to file your 2020 tax return early
The IRS is opening the 2020 individual income tax return filing season on Feb. 12. (This is later than in the past because of a law that was recently enacted.) Even if you usually don’t file until closer to the April 15 deadline (or you file an extension), consider filing early. It can potentially protect you from tax identity theft. In these scams, a thief uses another person’s personal information to file a fraudulent return early in the filing season and claim a bogus refund. Another benefit of early filing is that if you’re getting a refund, you’ll get it faster. And if you were eligible for an Economic Impact Payment last year and didn’t receive it, you can claim it on your 2020 return.
Getting more for your marketing dollars in 2021
Like every year, 2021 brings distinctive marketing trends to the table. The COVID-19 pandemic and resulting economic challenges continue to drive the conversation. You’ll need to tailor your message to this environment. For starters, digital marketing remains critical. Regularly update your search engine optimization so your website ranks highly in online searches. Adjust your use of email, text messages and social media. Look for better deals in advertising rates and for other platforms or channels. Recognize public relations as a key component to marketing success. Use press releases to disseminate trustworthy information and maintain a strong reputation. Contact us for more info.
Blockchain beckons businesses … still
Blockchain has existed for more than a decade, yet it still beckons businesses with promises of efficient, secure transactional technology. Blockchain is a distributed, shared digital ledger that’s continuously copied and synchronized. The ledger isn’t housed on a central server or controlled by one party. Rather, transactions are added to the ledger only when verified through established consensus protocols. Third-party verification makes blockchain highly resistant to errors, tampering or fraud. Blockchain is already proving useful to businesses in various ways, including generating “smart contracts” and demonstrating “service of process” in legal proceedings. Contact us for more info.
Educate yourself about the revised tax benefits for higher education
If you or your child attends (or plans to attend) college, you may be eligible for tax breaks to help foot the bill. The new Consolidated Appropriations Act made some changes. The law repeals the Tuition and Fees Deduction for 2021 and later years. In addition, for 2021 and beyond, the new law aligns the income phase-out rule for the Lifetime Learning Credit (LLC) with the more favorable phase-out rule for the American Opportunity Tax Credit (AOTC). The LLC can be worth up to $2,000 per tax return annually while the AOTC can be worth up to $2,500 per student each year. Talk with us about which tax credit is the most beneficial in your situation. Each has its own requirements.
Can your business benefit from the enhanced Employee Retention Tax Credit?
COVID-19 has caused widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit, which was extended and enhanced in the latest law. Under the CARES Act, the credit only covered wages paid between March 13, 2020, and Dec. 31, 2020. The new law extends the covered wage period to include the first two calendar quarters of 2021. In addition, for the first two quarters of 2021 ending on June 30, the new law increases the overall covered wage ceiling to 70% of qualified wages paid during the applicable quarter (versus 50% under the CARES Act). These are just some of the changes. Contact us with questions.
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