Fust Charles Chambers_Passive Activity LLC

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Many privately held businesses have incurred losses during the COVID-19 pandemic. Unfortunately, the federal income tax passive activity loss (PAL) rules can limit an owner's ability to currently deduct tax losses thrown off by passive activities. Here's an overview of how the PAL rules apply to… Read more

Tags: COVID

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If you have employees working from home, and you want to transition them back to the workplace as the economy picks up, you may find it's harder than you once thought. For some employees, nervousness about remaining health risks is an impediment — especially for those who haven't been vaccinated.

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Tags: COVID

Employee Retention Business Benefits
Over the course of the COVID-19 pandemic, many businesses have had to shut down or reduce operations, causing widespread furloughs and layoffs. Fortunately, employers that have kept workers on their payrolls may be eligible for a refundable employee retention credit. Three laws have created,…

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Tags: COVID, Tax

Temporary Changes to the Child and Dependent Care Credit
The American Rescue Plan Act (ARPA) includes major, but temporary, changes to the longstanding federal income tax child and dependent care credit. The changes are favorable for most taxpayers, except high-income individuals. Here's what you need to know about this credit and how it's changing for…

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Tags: COVID

Fust Charles Chambers warns of potential vaccine scams
As millions of people sign up for COVID-19 vaccines across the United States, dishonest people see yet another opportunity to defraud, cheat or steal from unsuspecting victims. Don't let yourself be swept up in these types of scams. Too often, these con artists make promises that they can't keep,…

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Tags: COVID, Non-Profit

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The global pandemic is having widespread impact on all facets of business. In the nonprofit and education industries, organizations are adjusting to the remote working world while, at the same time, seeking to assist companies in other industries as they transition and respond to the crisis.

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Tags: COVID, Healthcare

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As COVID-19 continues to disrupt our communities, businesses and the larger economy, leaders across all industries are working around the clock to understand the full scope of the impact to their organization and devise a plan for moving forward in a rapidly changing environment.

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The COVID-19 global pandemic is having a widespread impact on all facets of business. In the manufacturing industry, manufacturers are contending with mandatory shutdowns, supply chain disruptions, workplace safety concerns and long-term economic uncertainty. Here are some of the most frequently…

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Tags: COVID, Tax

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Many family businesses have been adversely affected by the novel coronavirus (COVID-19) pandemic. But there’s a silver lining: Proactive tax planning can help your family business take advantage of potential opportunities in the COVID-19 era. Here are some tax-smart ideas to consider.

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