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Boxelder Consulting’s Complete Guide to PPP Loan Forgiveness
What is the PPP The Paycheck Protection Program originated as part of the CARES Act, which was signed into law on March 27. The initial $350 billion was depleted within a month, after which Congress replenished the bill with an additional $310 billion under the “Paycheck Protection Program and Health Care Enhancement Act.” Here are […]
IRS Collections and the COVID-19 Pandemic
Like most people, the team at Boxelder Consulting is still coming to grips with the jolting shift in reality we’ve all experienced in just three or four short weeks. The COVID-19 public health crisis has hit us all hard, and the resulting economic fallout could take months, if not years, to recover from. As the number […]
4 Factors That Can Cause Tax Refund Delays
The arrival of tax season has brought about one of the chief concerns of the year for most people throughout the country: tax refund checks. For many Americans, tax refund money is one of the most significant sources of additional income during a given year. The majority of tax refund checks are between $2,000 to […]
The Crypto-Currency Act of 2020 in Congress Sets More Clear Bounds for Crypto-Property
The federal regulation of cryptocurrency and other crypto-assets is an issue of major significance. Slowly but surely, the federal government and its many agencies have taken note of the growth of cryptocurrency and have attempted to exercise control and authority. We’ve discussed, for instance, the IRS’ public statements on the taxation of bitcoin and other […]
The Potential Negative Effects of Section 280E and One-Sided Marijuana Taxation
Back in 1981, a court case took place which involved a cocaine trafficker who attempted to assert his rights to deduct ordinary business expenses under federal tax law. Section 280E was created as a direct response to this case. As we’ve discussed in our previous post, IRC Section 280E forbids businesses which generate income from […]
What These Two Cases Could Tell Us About the Future of Section 280E and Cannabis Taxation
The cannabis industry continues to change rapidly throughout the United States. Many states, including Washington State and Colorado, have legalized marijuana for both recreational and medicinal purposes. Other states have legalized marijuana strictly for medicinal purposes but may permit recreational use in the future. Because the recreational cannabis industry is relatively new, the industry still […]
4 Reasons To Hire A Bookkeeper For Your Business
It’s not always easy to know when it’s time to outsource your bookkeeping. Some small business owners can continue on without a bookkeeper longer than others. But as your business grows in revenue, size and complexity, hiring a part time bookkeeper will become a necessity. In this post, we’ll go over our top four reasons […]
The Ultimate Guide to Payroll Systems
Continuing with our series on bookkeeping services, in this post we’re going to introduce and discuss the topic of payroll systems. When you run a business, there are many, many tasks you have to perform in order to keep your business functioning smoothly. Bookkeepers can help you perform certain of these tasks, such […]
Everything You Need To Know About Balance Sheets
Balance Sheet Basics As we’ve discussed in previous articles, a balance sheet is one of the most basic financial statements prepared by bookkeepers. Bookkeepers produce multiple financial statements, but the balance sheet is arguably the most important. Simply put, a balance sheet gives a snapshot of the overall financial condition of a company at a […]