Jason Dinesen

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So far Jason Dinesen has created 888 blog entries.

Another ERC Question: Wages Paid or Wages Incurred?

By | August 13th, 2020|Categories: Potpourri of Tax Topics|

Another employee retention credit has come up. The question was submitted to me by an attendee in one of my webinars: Pertaining to wages paid in the first quarter after 3-12, does the entire paycheck qualify or only the portion of the paycheck that would be for days paid for hours worked after 3-12?  The person [...]

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Revisiting ERC and Shareholder Wages

By | July 30th, 2020|Categories: Potpourri of Tax Topics|

So this is how it goes when you work with taxes. One day you look at something and come to one conclusion. The next day you look at the same thing and come to a different conclusion. Yesterday, I wrote about how shareholder wages don't count toward the ERC. I have been engaged in a discussion [...]

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Employee Retention Credit and Owner Wages

By | July 29th, 2020|Categories: Potpourri of Tax Topics|

UPDATE: I have changed my mind on this subject; I now think shareholder wages probably DO count but wages paid to most (but not all) relatives DO NOT. Fun times. Click here for the latest. A common question on the Employee Retention Credit is, do shareholder wages count? For example, wages paid to the owner of [...]

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FFCRA Leave and the PPP

By | July 21st, 2020|Categories: Potpourri of Tax Topics|

The Families First Coronavirus Response Act (FFCRA) requires businesses with fewer than 500 employees to provide 2 weeks of paid sick leave to employees who contract COVID-19. The employer then receives a tax credit for those wages paid. Other nuggets about the leave: The credit is wages paid PLUS employer-side Medicare tax.The employer does not owe [...]

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Tax Season 2020: The Lament of the Solo Tax Practitioner

By | July 17th, 2020|Categories: Potpourri of Tax Topics|

Even before COVID-19 happened, I had said this was the worst tax season ever. COVID was just the rancid cherry on top of a moldy cake. It's easy to be negative and cynical -- social media almost demands this attitude, I think. But I am not being cynical here. I spent nearly 3 hours writing this [...]