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Payne Nickles & Company, CPAs is proud to announce the scholarship winners for the 2021-2022 academic years! The annual scholarships are funded through an account established by Payne Nickles & Company, CPAs within the Huron County Community Foundation, and are available to any second, third, fourth or fifth year accounting major in Erie, Huron or

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Earlier this year, the American Rescue Plan (ARP) was announced, including some temporary updates to the child tax credits available for many parents. Under the ARP, eligible parents of dependent children can take a tax deduction of up to $3,600 per child, depending on the child’s age and household income. Part of this tax deduction

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Buying property and selling after it’s appreciated is a wealth-building strategy that has been around for centuries. It’s even better if that property can make you money, say through rental income. If you’ve been considering allowing short-term vacation rental contracts for your properties, or if you’re already allowing them, keep reading. The following article will

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Cryptocurrency, a type of virtual currency that utilizes cryptography to validate and secure transactions digitally recorded on a distributed ledger, such as a blockchain, has been on the rise over the past several years. Approximately 14 percent of Americans own at least one share of virtual currency. Therefore, it’s essential to understand the tax implications

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The last few years have afforded quite a few changes in how the IRS allows businesses to handle meal and entertainment costs in relation to their taxes. The 2018 Tax Cuts and Jobs Act (TCJA) eliminated deductions for most business-related entertainment expenses. Since the pandemic, the IRS has temporarily changed the tax-deductible amount allowed for

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As a business owner, increasing sales can be a great mood lifter. But what happens if you get a large order and have no way to pay for the supplies? Sales doesn’t always equal immediate cash in hand, which can put a strain on your business accounts and your ability to deliver on time. Below,

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A measure to extend the Paycheck Protection Program (PPP) application deadline from March 31, 2021, to May 31, 2021, has passed the U.S. House of Representatives and the Senate. It now heads to President Biden’s desk for signature which he is expected to do promptly. Small businesses will have until May 31, 2021, to continue

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