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The Value Report - Machen McChesney Business Advisory Insights

At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization.  


Table of Content

  1. Work Opportunity Tax Credit Extended Through 2025
  2. How to Compute Your Company's Break-Even Point
  3. The Latest on COVID-Related Deadline Extensions for Health Care Benefits
  4. Business Highlights in the New American Rescue Plan Act
  5. What Individuals Need to Know About the American Rescue Plan Act
  6. "Free" COBRA Group Health Care for up to Six Months
  7. Repaying Deferred Payroll Taxes
  8. Making Sense of Your Statement of Cash Flows
  9. What's New at Machen McChesney

Work Opportunity Tax Credit Extended Through 2025

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Are you a business owner thinking about hiring? Be aware that a recent law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a tax credit known as the Work Opportunity Tax Credit (WOTC) that’s worth as much as $2,400 for each eligible employee ($4,800, $5,600, and $9,600 for certain veterans and $9,000 for “long-term family assistance recipients”). The credit is generally limited to eligible employees who began work for the employer before January 1, 2026. Continue reading.


How to Compute Your Company's Break-Even Point

Break-Even Point-1187484528-1Breakeven analysis can be useful when investing in new equipment, launching a new product, or analyzing a cost reduction plan's effects. During the COVID-19 pandemic, however, many struggling companies are using it to evaluate how much longer they can afford to keep their doors open. Continue reading.


The Latest on COVID-Related Deadline Extensions for Health Care Benefits

Health care - 1214101112The U.S. Department of Labor (DOL) recently issued EBSA Disaster Relief Notice 2021-01, which is of interest to employers. It clarifies the duration of certain COVID-19-related deadline extensions that apply to health care benefits plans. Continue reading.


Business Highlights in the New American Rescue Plan Act

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President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing relief to individuals, there are also several tax breaks and financial benefits for businesses. Continue reading   


What Individuals Need to Know About the American Rescue Plan ActAmerican Flag spelling the word tax-1139272489-1The American Rescue Plan Act of 2021 (ARPA), signed into law by President Biden on March 11, 2021, provides additional major relief to individuals and businesses that continue to be impacted by the COVID-19 pandemic. The ARPA includes the following provisions related to individual taxpayers: Continue reading


"Free" COBA Group Health Care for up to Six Months

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"Free" COBRA Group Health Care for up to six months for involuntarily terminated (or reduced hours) employees.

The American Rescue Plan Act of 2021 (ARP), enacted on March 11, 2021, creates a requirement that employers treat the total payment for Consolidated Omnibus Budget Reconciliation Act (COBRA) continuation coverage due from certain eligible individuals as being "paid in full" for April 1 through September 30, 2021 (Subsidy Period). The eligible individuals with COBRA coverage will not receive the subsidy directly from the government; rather, they will have a premium holiday. The employer pays 100% of the applicable COBRA premium. The employer will be reimbursed in full through refundable payroll tax credits. Continue reading. 


Reporting Deferred Payroll Taxes

The word-1303903173-1 IRS Notice 2020-65 allowed employers to defer withholding and payment of the employee's Social Security taxes. This deferral applied to those with less than $4,000 in wages every two weeks or an equivalent amount for other pay periods. It was optional for most employers, although mandatory for federal employees and military service members. Continue reading.


Making Sense of Your Statement of Cash Flows

Cash Flow-1270680715-2-1The statement of cash flows essentially tells you about cash entering and leaving a business. It’s arguably the most misunderstood and underappreciated part of a company’s annual report. After all, a business that reports positive net income on its income statements sometimes doesn’t have enough cash in the bank to pay its bills. Reviewing the statement of cash flows can provide significant insight into a company’s financial health and long-term viability. Continue reading.


What's New at Machen McChesney?

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Sponsorships, new hires, announcements
Continue reading


We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future. 

Please feel free to visit our website or visit our blog at any time during the month to interact with additional valuable resources and helpful information.
 
If you have any questions on the topics above, please feel free to send us a message.
 
Thanks,
Machen McChesney 
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Montgomery: 1761 Taliaferro Trail | Montgomery AL 36117

www.machenmcchesney.com

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