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CBM Communicator

January 24, 2021

2021 Tax Calendar

To help clients make sure they don’t miss any important 2021 deadlines, Councilor, Buchanan & Mitchell has provided this summary of when various tax-related forms, payments and other actions are due. Please review the 201 tax calendar below and let us know if you have any questions about the deadlines or would like assistance in meeting them. Date Deadline for  February 1 Individuals: Filing a 2020 income tax return (Form 1040 or Form 1040-SR) and paying tax due, to avoid… Read more ›

January 11, 2021

How Can Your Business Benefit from the Consolidated Appropriations Act?

The Consolidated Appropriations Act of 2021 (CAA) was signed into law in late December. The sprawling legislation contains billions of dollars in additional stimulus funding in response to the COVID-19 pandemic, as well as numerous unrelated provisions. Let’s take a closer look at the provisions that are most likely to affect your company’s bottom line. Paycheck Protection Program The CAA includes another $284 billion in funding for forgivable loans through the Paycheck Protection Program (PPP), for both first-time and so… Read more ›

January 11, 2021

The Consolidated Appropriations Act Brings COVID-19 Relief (and More) to Individuals

President Trump signed into law billions of dollars in long-awaited COVID-19 and economic relief. The relief package is part of the nearly 5,600-page Consolidated Appropriations Act (CAA), which also contains numerous other tax, payroll and retirement provisions. Here are some of the provisions most likely to affect individual taxpayers. Recovery Rebates The most headline-grabbing component of the CAA is the second round of direct payments. The law calls for nontaxable “recovery rebates” of $600 per eligible taxpayer ($1,200 for married… Read more ›

January 5, 2021

CBM Tax Manager Lucy Gomez Prepares Food for Local DMV Shelters

In early November, CBM’s Tax Manager Lucy Gomez volunteered at Manna Food Center and Clarksburg CAN – Community Assistance Network to package non-perishable goods for homeless shelters in the DC Metropolitan Area. She spent a total of 10 hours volunteering at the two locations and prepared a number of meals in the process. She worked tirelessly alongside other volunteers to get together as many meals as possible. Manna Food Center is a Silver Spring, MD-based not-for-profit organization dedicated to ending… Read more ›

December 31, 2020

A Dozen New Year’s Resolutions for Small Business Owners

Have you made any New Year’s resolutions for 2021? Resolutions usually take the form of personal goals like eating healthier or getting rid of clutter around the house. But you can also make New Year’s resolutions for your small business. 1. Be Realistic About Your Goals The start of a new year is often cause for optimism. This is especially true this year for many people who want to put 2020 behind them from both a business and emotional standpoint…. Read more ›