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Take 5 with Beth Marcus, Owner/Operator of Cape Cod Beer

What is the name of your business; what services and/or goods does it provide? Cape Cod Beer is a self-distributing microbrewery founded in 2004, located at 1336 Phinneys’s Lane in Hyannis, Massachusetts. My husband Todd and I own and operate the business. We produce over 6,000 barrels of beer annually. For the uninitiated that’s about […]

Important News about the Employee Retention Credit

On January 26th, the IRS published a press release encouraging employers to take advantage of the newly extended Employee Retention Credit. Passed on December 27th, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 makes it significantly easier for employers to take the Employee Retention Credit. The Employee Retention Credit is a refundable tax credit […]

BizChecks Payroll Updates During COVID-19

March 31, 2020 Update We would like to thank all of our clients who have been patient and supportive of the payroll changes that we have made to respond to the Covid crisis. There is a tremendous amount of information that is changing daily regarding the CARES Act, the Paycheck Protection Program, the Families First […]

How to Retrieve Payroll Information for SBA Loans

Step-by-step Guide for Retrieving Payroll Information for SBA Loans We have been inundated with requests for payroll information for those clients looking to apply for the Payroll Protection Loans available through the SBA. The applications for these loans will be available from your bank beginning April 3rd. Based on the most recent information we have […]

Accessing Tax Returns and Forms in iSolved

Step-by-step Guide for Accessing Your Tax Returns and Forms We know that many of our clients have started working with their banks to apply for the SBA Payroll Protection Loans and that the banks are requesting tax returns and forms in addition to the application. Below you will find instructions on how to access the […]

Families First Coronavirus Response Act

On March 18, 2020 the United State Senate passed the Families First Coronavirus Response Act (FFCRA). On March 19, 2020 the President signed the bill which will become law within 15 days. Below is a brief summary of the act: Who Qualifies? The bill covers all companies with fewer than 500 employees. The bill does […]

IRS Revises W4 Form for 2020

On December 5th, the IRS overhauled the process for determining how much federal income tax employers must withhold from an employees’ paycheck. Effective January 1st, 2020 all new employees and any employee changing their federal tax withholding must complete the new 2020 W4 form. The IRS has replaced the system of declaring allowances with a […]

Compensation According to the Fair Labor Standards Act (FLSA)

*Note: The Department of Labor revised the regulations located at 29 C.F.R. part 541 with an effective date of January 1, 2020. WHD will continue to enforce the 2004 part 541 regulations through December 31, 2019, including the $455 per week standard salary level and $100,000 annual compensation level for Highly Compensated Employees. The […]

Critical Year End Payroll Deadlines

Critical Year End Payroll Deadlines In 2016, significant changes were mandated by the IRS, DOR and Social Security Administration to filing deadlines. This year all W2s and 1099s must not only be provided to the employees, but also filed with the appropriate taxing agency by January 31, 2020. This is a full 30 days in […]

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