Covering Your Assets: Should I kick the can on filing my tax return?

Let’s start with the good news: The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.

Individual taxpayers can postpone federal income tax payments for the 2020 tax year due on April 15, 2021 to May 17, 2021, without penalties and interest, regardless of the amount owed.

This postponement applies to individual taxpayers, including individuals who pay self-employment tax.

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NCET Member
NCET Biz Tips: Buying and Selling a Company During COVID

The COVID-19 pandemic disrupted many aspects of business in Nevada, including buying and selling companies. In the second quarter of 2020, deal activity in the U.S. – and Nevada – dropped by over 40% from an already record low first quarter of 2020 caused mainly by the uncertainties of COVID.

When COVID shut down a large part of the economy in March 2020, many deals already underway were abandoned altogether or put on hold. Doing deals in this current environment presents some unique challenges.

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NCET Member
NCET Biz Tips: Starting Your Nevada Business: Part 4 – Which Business Entity is Right for You?

When starting or operating a business, one of the most important decisions that you will make is what type of business entity you should choose. There are four main types of business entities—the sole proprietorship, a partnership, the limited liability company (LLC), and the corporation. Each type has advantages and disadvantages depending on the circumstances.

In Part 4 of our series, we take a look at some important points to consider when determining which business entity is right for you.

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NCET Member
One Year Later: Northern Nevada businesses reflect on industry shifts, lessons learned due to the pandemic

In March 2020, as the coronavirus pandemic shut down Nevada and the entire nation, we started bumping elbows instead of shaking hands.

One year later, the NNBW fielded responses from more than 20 business owners and executives in Northern Nevada to find out the biggest lessons they have learned since March 2020, and the biggest differences in how their industry now conducts business.

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NCET Member
NCET Biz Tips: The Importance of Planning for Business Crisis

Part of Jackie Shelton’s job is working with her team to help her clients identify what could potentially go wrong with their businesses. By doing this, she not only helps them anticipate and address issues ahead of time, but helps them plan for what to say if something does go awry.

And speaking of “things going awry,” we’re guessing 2020 gave you some reasons to consider doing the same thing.

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Dave Archer
Boston Dynamics’ New Robot Doesn’t Dance. It Has a Warehouse Job

It can’t do back flips like Atlas the humanoid robot, nor can it dance or open doors for its friends, like Spot the robotic dog can. Instead, Boston Dynamics’ new robot, named Stretch, is going straight to work in a warehouse. Rolling around on a wheeled base, it’s basically a large robotic arm that grabs boxes using vacuum power, and it’s designed for tasks like unloading trucks or stacking pallets.

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Dave Archer
‘SkillUp’ program helps workers pandemic-proof their skills

Some Northern Nevada workers, battered by a pandemic that has devastated the labor market and reshaped the workplace, are questioning whether to stick with their occupation or start an entirely new career. Many are strengthening existing skills or resetting priorities such as which industry they work in, where they work or their job title. Others are taking classes to add new expertise and reinvent themselves in completely different fields.

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Guest User
4 steps to writing a strong elevator pitch for your business, plus exact scripts to follow

When most people hear the term ‘elevator pitch,’ they think they have at least 30 seconds, maybe more, to showcase who they are and what they do. But they’re wrong. When I first started my business, Bridesmaid for Hire, I’d find myself gushing about what I do and all the services I offer. I even tossed in a few big accomplishments and business wins. But although what I do is unique and odd to some, even I couldn’t hold people’s attention after the first few sentences.

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Guest User
Ask NCET: Outsourced Human Resources and NFTs

In these uncertain times, having a reliable workforce solutions partner can be imperative to your company’s growth and success. Many companies during these times also utilize an outsourced human resources services company to make their lives easier when it comes to dealing with those important administrative duties. So how do you know if outsourcing these administrative duties is the right fit for your organization? Here are three ways that outsourcing HR, benefits, payroll, and workers compensation might make sense for your company.

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Guest User
New Employee Retention Credit and PPP Guidance Released

On March 1, the IRS released Notice 2021-20 providing guidance on the employee retention credit (ERC). While a significant portion of the Notice formalizes previously released frequently asked questions, the Notice also provides new guidance on several important areas, including the interaction of the ERC with the Paycheck Protection Program (PPP) and additional guidance on what constitutes a partial suspension of operations for ERC purposes.

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Guest User
What employers need to know about repayment of deferred payroll taxes

To give people a needed temporary financial boost, the Coronavirus, Aid, Relief and Economic Security Act allowed employers to defer payment of the employer’s share of Social Security tax. IRS Notice 2020-65 PDF allowed employers to defer withholding and payment of the employee’s Social Security taxes on certain wages paid in calendar year 2020. Employers must pay back these deferred taxes by their applicable dates.

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Guest User
What’s Next For Work: The Workplace Reimagined

It’s a story stranger than fiction. Overnight, the COVID-19 pandemic redefined what it means to “go to work.” Millions of workers around the world traded their conference room meetings and office commutes for video calls and a spot on the couch. Masks became the new uniform and hygiene hypervigilance the new mandate for those who needed to stay on the frontlines. For many, modified operations created new or additional job duties, some of which required learning new skills.

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Guest User
NCET Biz Tips: Five Key Human Resources Practices

As business owners and leaders within our organizations, we wear many hats. We have to be in so many places at once yet fully present in all. We have to provide answers, and ones that work for everyone. We have to bring joy, and bring hard truths. The list goes on and on. While it can seem almost impossible to add another thing to your plate, let me tell you about simple things you can do more often, that will bring balance to your business function and to the way you lead:

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Chris Ewing