IN THE NEWS

In The News

Scott is past president of the
Financial Planning Association’s Southwest
Florida Chapter

2 hours ago

We are blessed by our beautiful surroundings here in Southwest Floraida. If you're fascinated with all things feathered, look no further than the skies and shores of Fort Myers & Sanibel. The region's natural sanctuaries are home to countless species of native and migratory birds. Grab your best binoculars as we focus on the ones you're sure to spot. www.fortmyers-sanibel.com/visit/editorial/9-birds-youll-spot-on-the-beaches-of-fort-myers-sanibel Local and Migratory Birds - The Beaches of Fort Myers & SanibelFort Myers and Sanibel natural sanctuaries are home to countless species of native and migratory birds.www.fortmyers-sanibel.com ...

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Scott White Advisors

2 days ago

Though most known for another round of stimulus checks, the Consolidated Appropriations Act, 2021 (CAA 2021) that was signed into law Dec 27th also included several other areas of assistance for both individuals and businesses:• An additional $300 weekly in employment provisions for those collecting unemployment benefits, is extended through March 14, 2021• The employer tax credit for providing emergency sick and family leave has been extended through March 31, 2021.• For those who itemize deductions, the limit on the charitable gifts deduction has been increased to 100% of AGI for direct cash gifts to public charities.• The floor for deducting medical expenses has been permanently lowered to 7.5% of AGI (it was scheduled to increase to 10% in 2021).A number of provisions that are periodically extended (often a year at a time) have been extended through 2025, including:• The exclusion from gross income of discharge of qualified principal residence indebtedness• The employer credit for paid family and medical leave• The exclusion from income for certain employer payments of student loans ...

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Scott White Advisors

3 days ago

The Journal of Accountancy reported that the COVID-19 relief bill passed last month specifies that business expenses paid with forgiven PPP loans are tax-deductible. This supersedes IRS guidance that such expenses could not be deducted and brings the policy in line with what the AICPA and hundreds of other business associations have argued was Congress's intent when it created the original PPP as part of the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136 (see the Dec. 3 letter from the AICPA and state societies to congressional leaders).Find out more details included at www.journalofaccountancy.com/news/2020/dec/covid-19-relief-bill-addresses-key-ppp-issues.html COVID-19 relief bill addresses key PPP issues - Journal of AccountancyPresident Donald Trump on Sunday night signed into law the $900 billion COVID-19 relief bill passed Dec. 21 by Congress. Trump had said he would not sign the bill because he wanted $2,000 stimulus checks for individuals instead of the $600 in the legislation. His signature Sunday came a day after ...www.journalofaccountancy.com ...

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