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HOLDING ON: Joseph A. Mansour Jr. is the president of Marcovich, Mansour & Capobianco LLC in Lincoln, an accounting firm that represents about 400 businesses that received Paycheck Protection Program loans. Mansour said he’s advising those clients to keep some of that money, if possible, in case they have to pay taxes on the funds in April 2021. / PBN PHOTO/MICHAEL SALERNO

Tax questions over PPP loans remain unresolved

Accountants who helped shepherd businesses through the process of obtaining federal Paycheck Protection Program loans this year are now cautioning them to not assume...
TAX GUIDES: Anthony Scorpio speaks with Judith Giannini at Mullen Scorpio & Cerilli in Providence. The certified public accountants help small businesses apply new tax laws, such as the Qualified Income Business Deduction. / PBN PHOTO/MIKE SKORSKI

Deductions, depreciation are adding up for some small-business owners

Small-business owners in Rhode Island are taking advantage of tax credits and cuts first made available in 2018 but which are becoming more commonly...
MASS OF CONFUSION: Steven Ursillo, managing director of West Warwick-based Sparrow, Johnson & Ursillo Inc., certified public accountants, business and technology consultants, describes the GOP tax-reform plan as a “mass of confusion.” He said people tried to predict what would happen with the last tax overhaul in 1986, only to see things pulled and added at the last minute. / PBN PHOTO/MICHAEL SALERNO

Congress to finally debate tax reform

President Donald Trump’s tax plan pledges to reduce the complexity of the federal tax code, to benefit small businesses, corporations and middle-class Americans. But how...
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