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The Employee Retention Tax Credit – Can Your Organization Benefit?

April 9, 2021

The Employee Retention Tax Credit Can Your Organization Benefit From This Credit? – What You Need To Know You may have heard about the federal Employee Retention Tax Credit. Many organizations are evaluating this tax credit to determine what benefits the credit may bring their organization. With recently issued guidance from the IRS on implementing…

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AMERICAN RESCUE PLAN ACT OF 2021 – Special Report

March 17, 2021

President Signs $1.9 Trillion Bill Into Law On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 into law. The Act includes a number of tax provisions, including a third round of direct stimulus payments, enhancements of many personal credits meant to benefit people with lower incomes and children, extensions of…

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PPP SBA Form 3508D

January 21, 2021

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (the Act) into law. The Act provides for significant changes to the Paycheck Protection Program (PPP) and establishes a second round of additional funding for the PPP. Over the past several weeks, the SBA has issued numerous guidance documents and forms to implement…

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SBA PPP Round 2 Guidance

January 14, 2021

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (CAA) into law. A significant revision in this law involves extending and expanding an existing provision from prior 2020 Federal COVID-19 legislation regarding the employee retention credit and paycheck protection program. The CARES Act passed in March 2020 established the following two incentive…

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Employee Retention Credit Updates

January 7, 2021

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (CAA) into law. A significant revision in this law involves extending and expanding an existing provision from prior 2020 Federal COVID-19 legislation regarding the employee retention credit. The CARES Act passed in March 2020 established the following two incentive programs that provide funds…

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Consolidated Appropriations Act, 2021

January 5, 2021

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 into law. The major tax-related provisions are summarized below: COVID-19-related Tax Relief Act of 2020: Additional Recovery Rebate Credit $600 per individual (including dependents) Phase out begins at Adjusted Gross Income of $150,000/$112,500/$75,000 (Married Filing Joint/Head of Household/Others) Advance payments will be based…

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SBA Paycheck Protection Program Forgiveness

May 19, 2020

On Friday, May 15, 2020 the SBA and Treasury released the Paycheck Protection Program (PPP) Loan Forgiveness Application, SBA Form 3508. This application package includes: • Form of application and supporting schedules required to be submitted to lenders by those seeking forgiveness of PPP loans • Detailed instructions, including documentation required by SBA and optional…

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COVID Q&A with NCA Partners

April 6, 2020

Three of our Partners were featured on North Fulton Business Radio to discuss the Economic Injury Disaster Loan and Payroll Protection Program. You can hear Keith Daniel, Tim Veal, and William Sammons talk to John Ray from North Fulton Business Radio here: https://businessradiox.com/podcast/north-fulton-studio/nichols-cauley-roundtable-on-sba-coronavirus-relief-programs/ Please visit Nicholscauley.com or call us at 800-823-0117 for additional guidance.

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COVID Legislation Guides for Individuals and Businesses

April 1, 2020

The amount of legislation that has been released in the past few weeks is staggering.  The CARES Act alone contains a mountain of information. The Nichols Cauley team has been working hard to summarize the information so that you can understand it, and more importantly, know what you need to do.   If you are a…

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Client ALERT: IRS Filing and Payment Q&A

March 25, 2020

To help clarify questions related to the filing and payment deadline extension announced in Notice 2020-18, the IRS released “Filing and Payment Deadlines Questions and Answers”. LINK: https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers Highlights clarified in the Questions and Answers: Extended: • Only income tax returns and estimated income tax payments due on April 15th are automatically extended to July…

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Client ALERT: State of GA Tax Extensions

March 24, 2020

On March 23, 2020 Governor Brian Kemp announced an extension of the income tax filing and payment deadline from April 15, 2020 to July 15, 2020. This will bring Georgia’s deadline in alignment with the Federal deadlines announced on March 20, 2020. The Georgia Department of Revenue has also issued guidance giving each individual county…

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Client ALERT: Family First Coronavirus Response Act Summary

March 23, 2020

CLIENT ALERT The Families First Coronavirus Response Act was signed by President Trump on March 18, 2020. Link to the full text is located here https://www.congress.gov/bill/116th-congress/house-bill/6201/text The current Family and Medical Leave Act provides eligible employees with up to 12 weeks of unpaid leave per year, requires group health benefits to be maintained for the…

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Updated: CLIENT ALERT: IRS Extends Filing Deadline

March 22, 2020

On March 20, 2020, the IRS released Notice 2020-18 (https://www.irs.gov/pub/irs-drop/n-20-18.pdf) which supersedes Notice 2020-17 issued on March 18, 2020. Notice 2020-18 provides: • No extension forms are required to be filed. The April 15, 2020 filing deadline is automatically postponed to July 15, 2020. • The extension applies to any “person” defined as an individual,…

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Client ALERT: GA DOL Emergency Rule

March 19, 2020

March 19, 2020 The Georgia Department of Labor (GDOL) has adopted an emergency Rule 300-2-4-0.5 Partial Claims, effective March 16, 2020. The rule mandates all Georgia employers to file partial claims online on behalf of their employees for any week during which an employee (full-time/part-time) works less than full-time due to a partial or total…

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Client ALERT: IRS Extends Payment Due Date

March 19, 2020

March 19, 2020 On March 18, 2020, the IRS released Notice 2020-17 extending the due date, penalties and interest on certain income tax payments. The Notice implemented the following changes: • Extended the due date for the payment of Federal income taxes (including self-employment tax) otherwise due on April 15, 2020 until July 15, 2020…

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Continuity of Service Plan and Monitoring of COVID-19 (Coronavirus)

March 16, 2020

March 16, 2020 COVID-19 (coronavirus) is causing much disruption in our families, communities, and businesses. Nichols, Cauley is continuing, and plans to continue, our operations in these unknown and uncertain times as a result of this public health crisis. Nichols, Cauley has effectuated our comprehensive business continuity plan to ensure our Firm’s continued operation and…

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NICHOLS, CAULEY & ASSOCIATES, LLC RECOGNIZED AS ONE OF THE LARGEST AND FASTEST GROWING FIRMS BY THE ATLANTA BUSINESS CHRONICLE

March 4, 2020

FOR IMMEDIATE RELEASE: MARCH 4, 2020 An expanded focus on delivering advanced and comprehensive solutions to business and individual clients continues to drive Nichols, Cauley & Associates, LLC to rise among Atlanta’s top accounting firms. The Atlanta Business Chronicle ranked Nichols Cauley as the 22nd largest public accounting firm presence in the city by number…

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THREE FIRMS JOIN NICHOLS, CAULEY & ASSOCIATES, LLC

January 24, 2020

Nichols, Cauley & Associates, LLC (Nichols Cauley) is proud to announce three firms have integrated their practices into Nichols, Cauley & Associates, LLC. Hartzog & Swordsma, LLC of Tyrone, GA and Smith Conley & Associates, PC of Fayetteville, GA will serve clients from our new Fayetteville office location. The Morehouse Group of Dalton, GA will…

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Chrisley Knows Best — Maybe Not….

January 23, 2020

by David Conley, Partner There have always been a number of things you can do to get on the IRS’ bad side. This article from Forbes is a great checklist of things you should never, ever, do when dealing with an IRS audit. Published by Tax Attorney Robert Wood in Forbes Magazine Todd Christy and…

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Out with the old – in with the new…..2020 mileage rates

January 6, 2020

Deduction rates change for 2020! It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles. Beginning January 1, 2020: 57.5 cents/mile (business miles driven) 17 cents/mile driven (medical or moving purposes) 14 cents/mile driven (in service to charitable organizations) And just for reference,…

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2019 Tax Law Change Update

December 30, 2019

Highlights of spending package’s tax law changes The federal government spending package titled the Further Consolidated Appropriations Act, 2020, does more than just fund the government. It extends certain income tax provisions that had already expired or that were due to expire at the end of 2019. The agreement on the spending package also includes…

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In 2019, Georgia tax legislation dipped — that could change in 2020

May 31, 2019

A year after the General Assembly approved two of the most significant tax bills this decade, lawmakers slowed the pace of tax-break legislation in 2019 after a string of sessions in which they seemed to never see a measure they didn’t like. That slowdown could be in part because 2019 was a non-election year, and…

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Senators Perdue, Cortez Masto Take Bipartisan Action To Relieve Burdens During Natural Disasters

May 31, 2019

U.S. Senators David Perdue (R-GA) and Catherine Cortez Masto (D-NV) are taking action to provide relief for Americans impacted by state-declared disasters and states of emergency. In the midst of a hurricane or forest fire, taxes are far from Americans’ minds as they seek safety and shelter. The current, bureaucratic process of securing a tax…

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Scholarships!

April 29, 2019

Congratulations to the recipients of our 2019 Farrell Nichols Memorial Scholarships at Georgia Southern University,… Posted by Nichols, Cauley & Associates, LLC on Thursday, April 25, 2019  

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