Small Business Owners Guide to the CARES Act

Please see the link below for a guide that can help small businesses during these uncertain times.  It has useful information about which loan can benefit your small business and a frequently asked questions section. As always we are only a phone call away. The Small Business Owners Guide to the CARES Act

Read More

PRESIDENT TRUMP SIGNS INTO LAW CARES ACT

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The CARES Act is the third round of federal government aid related to COVID-19. We have summarized the top provisions in the new legislation below, with…

Read More

Worker Classification: Employee vs. Contractor

Why It Matters The Internal Revenue Service and state regulators scrutinize the distinction between employees and independent contractors because many business owners try to categorize as many of their workers as possible as independent contractors rather than as employees. They do this because independent contractors are not covered by unemployment and workers’ compensation, or by…

Read More

Jarrard, Nowell & Russell grows N. Charleston team

Charleston, S.C. –Jarrard, Nowell & Russell, LLC (JNR), a Charleston-based accounting and business advisory firm, has added Charity C. Wright as a staff accountant in the firm’s N. Charleston office.       As staff accountant, Wright will prepare tax returns, review financial statements, and perform monthly bookkeeping duties. Prior to joining Jarrard, Nowell &…

Read More

IRS will move tax filing deadline to July 15 as coronavirus spreads

The IRS is moving its national income tax filing day ahead to July 15, three months after the normal deadline for Americans to send in their returns, Treasury Secretary Steven Mnuchin announced Friday. The move is the latest in a series of emergency measures to deal with the financial fallout of the coronavirus pandemic. “At @realDonaldTrump’s…

Read More

US Postpones April 15th Tax Payment Deadline

WASHINGTON—The U.S. government will postpone the April 15 tax-payment deadline for millions of individuals, giving Americans another 90 days to pay their 2019 income-tax bills in an unprecedented move. The IRS, using authority under President Trump’s national-emergency declaration, will waive interest and penalties as well, Treasury Secretary Steven Mnuchin said at the White House Tuesday.…

Read More

It’s Not Too Late to Make an IRA Contribution

Be sure to tell the IRA trustee that the contribution is for 2019. Otherwise, the trustee may report the contribution as being for 2020 when they get your funds. Generally, you can contribute up to $6,000 of your earnings for tax year 2019 (up to $7,000 if you are age 50 or older in 2019).…

Read More

Jarrard, Nowell & Russell names James Boswell staff accountant

 Charleston, S.C. – James Boswell has joined Jarrard, Nowell & Russell, LLC (JNR), a Charleston-based accounting and business advisory firm, as staff accountant.   Working out of the firm’s downtown office, Boswell prepares tax returns, assists with audits, researches tax issues, and performs monthly bookkeeping services for clients. He previously worked as the night auditor…

Read More

What to Do If You Are Missing Important Tax Forms

If you are ready to file your taxes but are missing important tax forms here’s what you should do: Form W-2 You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers must furnish this record of 2019 earnings and withheld taxes…

Read More

Will Russell to serve as treasurer/secretary of SCCIA board

    Charleston, S.C. – William A. Russell, III, CPA and partner with Jarrard, Nowell & Russell, LLC (JNR), a Charleston-based accounting and business advisory firm, has been elected to serve a three-year term as treasurer and corporate secretary on the South Carolina Captive Insurance Agency (SCCIA) board.   Russell, who began his career as…

Read More