Consolidated Appropriations Act, 2021

Dear Valued Clients and Friends of Burkhart & Company, On December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021. The bill consists of $300 billion in aid for small businesses, stimulus payments to individuals, additional unemployment...

Individual Year-End Planning

Each individual taxpayer’s year-end planning should consider the unique challenges and opportunities that this year presents. By the Numbers The tax rates for 2020 are 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The standard deduction for 2020 is $24,800 for married filing...

Business Year-End Planning

Each business should consider the unique challenges and possible opportunities that this year presents. Please see below a list of potential strategies and provisions that you may be able to utilize and should keep in mind as we approach year end. Deferring Income and...

Tennessee SERG Program

Dear Valued Clients and Friends of Burkhart & Company, 2020 has certainly been a year to remember. As challenges related to COVID-19 continue, it is important to stay informed as new relief measures are released. Even as Congress continues to work on a new round...

COVID-19 Relief Provisions

Dear Valued Clients and Friends of Burkhart & Company, The COVID-19 crisis has given rise to unprecedented economic relief legislation. It is important that every business owner and individual, whether employed or not, come to understand what provisions apply to...

Paycheck Protection Program

A major component of the CARES Act is the Paycheck Protection Program.  It is aimed at keeping workers employed during this pandemic and economic decline.  The initiative provides for 100% federally guaranteed loans to small businesses.  If borrowers maintain their...