Individual taxpayer relief under the American Rescue Plan Act of 2021
On March 10, 2021, Congress passed a final version of the $1.9 trillion relief bill entitled the American Rescue Plan (ARP), and President Biden signed the legislation on Thursday, March 11th. The ARP has several facets to it that are going to affect most Americans. This bill provides money for COVID-19 vaccines and testing, relief to state budgets, and various other pet projects. To help clients, prospects, and others, Selden Fox has...
Getting the most out of the Home Office Deduction
Over the past few months, nature has forced many working Americans and small business owners to work from home. Whether it be due to COVID-19, natural disasters, or the recent snowstorm that impacted almost all of the lower 48 United States, more Americans are working from home than ever before. A small consolation to working from home is that taxpayers can count part of that heating bill as a home office expense on their tax return....
How can Business Owners lower last year’s tax bill?
Good news! Business taxpayers may still be able to take actions to lower their federal income tax liabilities for 2020, as well as for future years. Consider these ideas before you file last year’s return. Claim 100% First-Year Bonus Depreciation — Or Maybe Not For qualifying assets placed in service in 2020, business taxpayers can deduct 100% of the cost in the first year. The 100% immediate write-off is allowed for both new...
Data tools and TRUST
One of the things I repeatedly see in the dealerships I visit is the disconnect that the dealer has with their own road-based technicians. Technicians are such a vital link to the customer. An inherent level of trust is built over the years, and repeated successful repair visits over time only strengthen this valuable customer connection. The questions are: Do we see these relationships as assets? If so, what are we doing to...
Prospects have rules. Follow them to make an easy sale.
When you make a presentation, you’re not the only one with expectations. The person you’re presenting to has as many or more than you. Are you aware of them? Or are you just making a pitch for your commission? Most salespeople believe that they are selling their product or service. Wrong. The prospect is buying it and in order to get the maximum amount of buy’s, you must approach each sale with the maximum understanding of the buyer’s...
Putting it back together
Here it is February already and I am still pondering about the balance of 2021 and 2022. I must confess that the Short Squeeze on Game Stop that took place last week kind of scared me because I could see it causing some major player to go BK and start the ball rolling like it did in 2007 or 2008 or whenever it was. When I hear a hedge fund CEO say “I only have a billion left” I cannot imagine what he lost in the process. “What’s in...
As e-commerce grows, automation and artificial intelligence help companies keep pace
Recent months, and the last holiday season, in particular, brought an e-commerce boom like no other. As the pandemic accelerated trends already in motion, online shopping and deliveries exploded and possibilities surrounding automation and artificial intelligence zoomed to the forefront. Now as businesses consider the changing landscape, the use of automation and AI are weaving more tightly into the practices of many operations. A...
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