Poole, Foster & Dul, An Accountancy Corporation

Individual returns have been extended to May 17, 2021Individual returns have been extended to May 17, 2021

The Senate has passed the stimulus bill. The first $10,200 of unemployment is now tax free. If you've filed your return, it will need to be amended. Please call our office immediately. We will be sending letters as well to inform you of the change.

We are still waiting on the state to give guidance on the treatment of the PPP loan forgiveness. As soon as we hear, we will process your returns accordingly, however; by the looks of it, they may need to go on extension. Please call if you have any questions.

Employers may deduct 100% of their business meal expenses, limited to food or beverages provided by a restaurant in 2021 and 2022Employers may deduct 100% of their business meal expenses, limited to food or beverages provided by a restaurant in 2021 and 2022

The additional relief was signed. PPP loan forgiveness is now tax free and you can deduct the expenses paid by the loan. Keep in mind, it is NOT tax free to California. For any questions regarding the new COVID relief, please call our office. Happy New Year!!