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HEALTHCARE

 

Over the years, we have served many clients in the healthcare profession. We understand that having your own practice is a great thing, but the business side takes away time that you could be spending on your patients. We have years of experience providing a variety of financial services to healthcare professionals, from consulting to monthly accounting and tax prep. We have helped many practices develop business models to increase profits and implement tailored business plans to accommodate new growth. At CAPATA, we want to relieve you of the financial cares so that you can focus on your passion, working to keep people healthy.

Deducting Meals and Entertainment Expenses

Deducting Meals and Entertainment Expenses    While the Tax Cuts and Jobs Act (TCJA) of 2017 eliminated many deductions for business meals and entertainment, there are still some deductions available. Most of the deductions are in the form of business meals, but there are select exceptions of when a business can also deduct entertainment expenses.  

How to Handle a Self-Directed IRA

How to Handle a Self-Directed IRA    Traditional and Roth IRAs are great tools to use for financial, estate, and retirement planning. One way individuals “turbocharge” their IRA’s performance is to use a self-directed IRA, which is able to hold alternative investments that offer potentially higher returns. Although this is a useful feature, there could be some

Update- California PPP Tax Conformity

Update- California PPP Tax Conformity    Although it is no secret that California has yet to release information on whether or not it will partially conform state tax code to the current federal tax rules regarding forgiven Paycheck Protection Program (PPP) loans, CalCPA has shared why the delay is taking place. 

Individual Tax Deadline Extended

Individual Tax Deadline Extended to May 17, 2021   The Internal Revenue Service (IRS) and Treasury Department announced today the 2020 tax year federal income tax filing due date for individuals has been automatically extended from April 15, 2021 to May 17, 2021. Just like last year, taxpayers do not need to file additional forms

Employee Retention Credit Webinar

Employee Retention Credit Webinar   During the webinar, we covered the following topics:  Overview of the ERC Program Determining Your Own Eligibility ERC Recap Tax Reporting Advanced Considerations Next Steps Q&A 

American Rescue Plan Act 2021

American Rescue Plan Act 2021    How the ARPA Affects You The latest legislation providing economic and other relief from COVID-19 has passed Congress and President Biden is expected to sign it into law. The American Rescue Plan Act (ARPA) includes $1.9 trillion towards funding for state and local governments, businesses, and individuals.

401(k) After Retirement or Changing Jobs 

401(k) After Retirement or Changing Jobs   If you plan to retire or change jobs soon, it’s very important to have a plan for your balance in your current employer’s 401(k) plan. You could keep your savings where it is, roll them over into and IRA, or transfer the balance over to your new employer’s

Employee Retention Credit

Employee Retention Credit   The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was an economic stimulus bill that was signed into law on March 27, 2020. One of the provisions of the CARES Act was the Employee Retention Credit, which provides payroll tax credits available for employers, including tax exempt organizations who retained

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