travel per diem rates
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Are employees at your business traveling again after months of virtual meetings? In Notice 2021-52, the IRS announced the fiscal 2022 “per…

small business week
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The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here…

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The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with…

child tax credit
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Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC)…

employee education assistance
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Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge. An employee can receive, on…

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Beginning Jan. 1, 2021, through Dec. 31, 2022, businesses can claim 100% of their food or beverage expenses paid to restaurants as…

Updated IRS Tax Filing Deadline 2021
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On March 17, the Internal Revenue Service announced that the federal tax-filing deadline is postponed from April 15 to May 17, 2021.

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The American Rescue Plan Act, signed into law on March 11, provides a variety of tax and financial relief to help mitigate…

business highlights in new american rescue plan bill
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President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for…

Estimated Payments 2021
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Even though the deadline for filing your 2020 federal individual tax return has changed to May 17, the deadline for the first…

work opportunity tax credit
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Are you a business owner thinking about hiring? Be aware that a recent law extended a credit for hiring individuals from one…

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Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable…

business cost per mile
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This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half…

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The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get…

new COVID19 relief bill
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The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here…

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The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It…

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In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization, then used stolen customer lists to start…

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Laciak>cpa locations will be closed on Thursday, December 24, Friday, December 25, and Friday, January 1, in observance of the holidays. Have…

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Beginning Monday, November 30, both our our Valparaiso and Schererville office locations will be open with regular hours of operation. Face masks…

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During the week of November 23, 2020, our Valparaiso office will be open Monday, November 23 through Wednesday, November 25, 2020 for…

HSA Health Savings Account
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Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be…

disability income
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Many Americans receive disability income. You may wonder if — and how — it’s taxed. As is often the case with tax…

2021 social security wage base
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If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing.

employer payroll questions answered
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The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment…

social security tax update
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If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how…

payroll tax implications President Trump
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On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for…

IRS announces Coronavirus relief
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A Message About Operations                                                                                    July 24, 2020 During this time, Laciak>cpa is pleased to offer a variety of remote…

tax filing help
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There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020,…

Image by Peter Oláh from Pixabay
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The IRS and the U.S. Treasury had disbursed 160.4 million Economic Impact Payments (EIPs) as of May 31, 2020, according to a…

Best of the region 2020
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Laciak>cpa has been named “Best…

coronavirus update june 24
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Dear Valued Clients: The tax filing deadline is less than a month away. If you’ve not yet filed, we’re…

non working spouse IRA
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It’s often difficult for married couples to save as much as they need for retirement when one spouse doesn’t work outside the home —…

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Congratulations to Laciak>cpa Senior Amanda Bray on obtaining her MBA from Valparaiso University! We’re very proud of you, and excited to watch as you…

health savings accounts 2021
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The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA basics An HSA is a trust created or organized exclusively for the…

covid-19 economic stimulus payment questions
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Nearly everyone has heard about the Economic Impact Payments (EIPs) that the federal government is sending…

PPP Loan Guidance
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The IRS has issued guidance clarifying that certain deductions aren’t allowed if a business has received a Paycheck Protection Program (PPP) loan. Specifically, an…