GRANTHAMPOOLE ARTICLES

Biden Tax Plan: What Could Happen…Maybe…

Counting votes is hard.  So is staying on top of tax law.  We will leave the former to the states, and your GranthamPoole advisors will focus on the second; it’s what we do every day, after all.  As with most potential changes in administration...

Mississippi Relief for Rental Property Owners and Businesses

On October 9, 2020 the Mississippi Rental Assistance Grant Program (MRAP) was established to award grants to owners and landlords of Mississippi rental property.  When the CARES Act passed in March of this year, it included a moratorium on...

Executive Order on Tax Deferrals Explained

On August 8, 2020 President Trump issued an Executive Order allowing the deferral of payroll tax obligations due to the continuing Covid-19 crisis.  Last Friday, the IRS issued guidance related to the implementation of this Order (Notice 2020-65).  The...

Potential Refund of ACA-Related Taxes

Later this year, the US Supreme Court will deliberate on a case that could potentially lead to the Affordable Care Act (ACA) and its associated taxes being found retroactively unconstitutional. If the Court does find the ACA unconstitutional, taxpayers may be entitled...

The Latest Guidance on PPP Loan Forgiveness

A little more than three weeks ago, President Trump signed into law the PPP Flexibility Act of 2020 (Flexibility Act) which made some significant changes to the Paycheck Protection Program (PPP), a loan program introduced in the CARES Act of...

Valuation News and Insights – Tax-Affecting Earnings of PTEs

Whether to tax-affect earnings of pass-through entities (“PTE”) has been a hotly debated topic among business valuators for over two decades.  Historically, the IRS has held that PTE earnings are after-tax since there is no tax at the entity...

CARES Act Makes Long-Awaited Correction to the “Retail Glitch”

The Tax Cuts and Jobs Act (TCJA) was a major overhaul of the U.S. Tax Code passed in 2017.  Of course, 2017 seems like decades ago considering all that has transpired since then, most notably the coronavirus pandemic.  Unfortunately, it took a...

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