4Thought Blog

Taxpayer Tips from the IRS: Protection from Scammers

Understanding how the IRS communicates can help taxpayers protect themselves from scammers who pretend to be from the IRS with the goal of stealing personal information. Read on below to get insights from the IRS on how they communicate – and how they don’t – so you can best be prepared to handle possible fraud…

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4 Guiding Principles for a Family-Business Succession Plan

Many successful companies are family owned and run. And there’s a good reason for it. It takes passion to run a profitable business — especially a smaller one. A family-owned company can benefit from the special dedication of a founder at the helm and possibly a spouse, siblings and children working alongside. But the devotion…

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The Pros & Cons of Joint Ownership in Estate Planning

Estate planners often tout the virtues of owning property jointly — and with good reason. Joint ownership generally offers several advantages for surviving family members. But this shouldn’t be viewed as a panacea for every estate planning concern. You must also be aware of all the implications.

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PPP Now Excluded from Gross Receipts Rule for Employee Retention Credit Eligibility

For restaurants, one of the most beneficial COVID-19 tax relief measures made available by the U.S. government is the employee retention credit (ERC). For readers not familiar with the ERC, a general overview can be found in our January blog post. The ERC is a fully refundable payroll tax credit equal to a percentage of wages…

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Warning: PPP Loan Forgiveness Deadline Approaching for Some Borrowers

Payroll Protection Plan loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration approved nearly 12 million PPP loans, averaging $67,000. The PPP program stopped accepting loan applications on May 31, 2021. However, you still may need to complete the requisite forms…

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6 Best Practices to Protect Manufacturers from Ransomware Attacks

There has been a surge in ransomware attacks in recent years and an even greater acceleration in the first half of 2021. Virtually every type of business is at risk, especially key links in the manufacturing supply chain. For example, in May 2021, a high-profile attack temporarily shut down operations of the largest gas pipeline…

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Top Considerations for the Nonprofit Sector for 2021 (Part One)

Since navigating the headwinds of the past year, nonprofit organizations have reimagined their operations to maintain relationships with donors, volunteers and the communities they serve while discovering new means to protect mission funding. Even so, the impacts of the pandemic and calls to further social justice work won’t subside overnight, leaving many organizations continuing to…

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6 Tips to End Costly Payroll Mistakes in Construction

Processing payroll is a critical administrative task that directly ties to your construction company’s labor costs, profits and ability to comply with labor laws. Yet staying on top of payroll can be daunting. Depending on the job, your payroll staff may have to account for union requirements, prevailing wage rates and certified payroll — not…

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How Buy-Sell Agreements Can Promote Business Owners’ Estate Plan Objectives

If you own a business, you’re probably familiar with the protections provided by buy-sell agreements. But do you know how important these documents can be to an estate plan? Because buy-sell agreements specify whether, and under what circumstances, owners’ interests may be transferred, they can help you control the ultimate disposition of your business and…

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SBA Opens PPP Direct Forgiveness Portal

The SBA is launching a streamlined application portal to allow borrowers with PPP loans of $150,000 or less to apply for forgiveness directly through the SBA.

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