Brain Trust

This is the Braintrust Resource page. The Brain Trust is a Practice Management Group which meets every 4th Tuesday of the Month. Live meetings are held at Kingsberry Waffle House in Oak Forest but during Covid-19 Protocol we are doing Zoom Meetings. This Resource page is posted on the Host's (P&L's Firm Page) and the Header is the Firm's  header and has nothing to do with The Brain Trust. The resourses and links listed below are shown for information purposes only and should not be relied upon as an authoritative source. Please do your own Due Diligence. Because at the end of the day you are responsible and we take no responsible for anything (including accuracy or reliability)!  If you have any resources or links that you think should be added, please send them to me at Paul@CPAtaxhelp.com and I will post. The Brain Trust is a Peer to Peer (P2P) collaborative group working for the good of all. Please don't just be a Taker be a Giver!  Looking forward to seeing you on the 4th Tuesday.

Agenda

Zoom Sign-Up Link for 4th Tuesday 4/27 Meeting 

Agenda 

Resources & Links

21/5-2 Quickbooks A/P Cash Basis Fix (Call Ted) - 4/27

21/5-1 Quickbooks A/R Cash Basis Fix (Call Ted) - 4/27

21/4-13 First Quarter Estimate Problem - 4/26

21/4-12 Advance CTC Credits - 4/26

21/4-11 Paid Leave to get Vaccinated - 4/26

21/4-10 Tax Problem Resolution - Cold Letter Received - 4/26

21-4-9 Dependent Video, old but true (from Mike) 4/14

21/4-8 - IRS Backlog - Very Interesting - 4/9

21/4-7 Meals Explained by the IRS - 4/8/21

21/4-6 Tax Season Tidbits Video from U of I - 4/5/2021

21/4-5 PPP Extended to May 31st from March 31st - 4/2

21/4-6 Determining Destination-Based Sales Tax Rates - 3/31

21/4-5 IRS extends additional Deadlines to May 17th but not Estimated Payment - 3/30

21/4-4 Interesting. Buried in it is fact that the ERTC amount must be applied against tax deductible wages – page 92.

So if you do a Payroll tax 941x to amend last year and get credit you will need to amend income tax returns and reduce tax deductible wages by amount of the credit -3/27

21/4-3 IL wants the Money - 1099-Ks required to be issued for over $1K -3/24

21/4-2 NATP Unemployment Revised Guidance Example - 3/23

21/4-1 IRS Changes Unemployment Calculation AGAIN! - 3/23

Prior Periods


21/3-1 Sexual Harrasment Training - Required each year - Posted 3/3/21 

21/3-2 Company Car Guidelines - 3/3

21/3-3 Consolidated Appropriations Act - 3/3

21/3-4 Employee Retention Credit (ERC) Decision Tree -3/3

21/3-5 Meals & Entertainment-3/3

21/3-6 Engagement Letter Tips -3/3.

21/3-7 South Chapter Super January Tax (Business) Update with Tom -3/3

21/3-8 South Chapter Super January Tax (Individual) Udate with Tom - 3/3

21/3-9 IDOR 2020 Tax Update - 3-3

21/3-10 IRS 2020 Tax Upate - 3-3

21/3-11 IL Retailers Flowchart 3-3

21/3-12 IRS Electronic Form Submission for Forms 2848 & 8821 - 3/3

21/3-13 Mike Murdroncik response to Schedule D Attachment Question - 3/3

21/3-14  Partner Deducting Private Plane cost used for business - 3/3

21/3-15 PPP borrowers can use gross income, SBA rule 3/4

21/3-16 Biden-Harris PPP Fact Sheet -3/5

21/3-17 AICPA calls on SBA to change 'unfair' PPP guidance, deadline - 3/5

21/3-18 The American Rescue Plan Overview from NATP - 3/11

21/3-19 The American Rescue Plan Powerpoint Presentation NATP Webinar - 3/12

21/3-20 The ARP Powerpoint Supplement NATP Webinar -3/12

21/3-21 The APR Resource from Wolters Kluwer - 3-13

21/3-22 How to backout $10,200 of Unemployment - IRS Guidance - 3/13

21/3-23 IL "Reviewing" the non-taxability of $10,200 of Unemployment - 3/17

21/3-24 IL is extending Deadline to 5/17 -3/18

21/3-25 States Coupling or Decoupling with the Federal Tax Code regarding extensions -3/19

21/3-26 The IRS will automatically process refunds for those that have already filed, no 1040-X Required - 3/19

21/3-27 2021 RMDs - 3/22

21/3-28 IL goes with the Fed! First $10,200 of Unemployment is tax-free! - 3/22

21/3-29 IN goes with the Fed! Same as IL! - 3/23

Days until April 15

Latest News

© P&L Accounting & Tax Service, LLP 2021
14930 S Cicero Ave, Suite 1B, Oak Forest, IL 60452

(708) 687-9217 | Taxinfo@CPAtaxhelp.com | (Paul)

P&L Financial & Tax, inc
801 W. Bay Drive #323, Largo, FL 33770
(727) 470-2351 | Dave@CPAtaxhelp.com | (Dave)

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