Newsletters


Small Business Grant Program

To small business and family-owned farm clients: Missouri has established a new grant program in response to the Covid-19 outbreak.  The grant will focus on retail, accommodation, food service, farm and health care industries.  Attached please find a …   Read More >>
 

Opportunities for Business Owners With No Employees

You’ve likely been receiving our email blasts in relation to the new tax credits and SBA loans available as a result of the Covid-19 virus outbreak and its related impact on the economy.  While many of you business owners with employees have begun to t …   Read More >>
 

Utilizing Covid-19 Credits and SBA loans

Dear Clients, We at Westbrook & Co., PC have shifted our focus from income tax return preparation to determining the effect on our clients from the various government tax credits and loans related to Covid-19.  To date, we’ve sent out four email …   Read More >>
 

Cares Act (PPP) Loan Information

Please find the attached application and information regarding the Cares Act (PPP) loan we mentioned in our last email summary of the new CARES Act.  Submission starts April 3, 2020.  The PPP loan provides funds to assist with payment of payroll, rent, …   Read More >>
 

COVID-19 Related Payroll Tax Credits – QuickBooks Desktop Wages and Payroll Taxes

INFORMATION FOR USERS OF QUICKBOOKS DESKTOP PAYROLL As we continue to monitor changes due to COVID-19, we are providing instructions for accounting in response to recent changes that will impact employers and employees.  QuickBooks ha …   Read More >>
 

CARES Act – topics effecting you and your business

Dear Client:

We hope that you are keeping yourself, your loved ones, and your community safe from …   Read More >>

 

COVID 19 – Families First Coronavirus Response Act (FFCRA)

As we continue to monitor changes due to COVID-19, we are providing an update to recent changes that will impact taxpayers, employers and employees.  The Families First Coronavirus Response Act (FFCRA) was signed into law on March 18, 2020.  Currently, …   Read More >>
 

COVID-19

As we all find ourselves in unknown territory, changes are rapidly being made that affect taxpayers, employers and employees due to COVID-19. On March 13, 2020, an emergency declaration was issued in response to the ongoing Coronavirus Disease 2019 (CO …   Read More >>
 

Current COVID-19 Update

As the Coronavirus crisis poses a real and serious threat, we feel it is our responsibility to do everything we can to help curb the severity of this problem.  In response to recent events, Westbrook & Co., PC is taking the necessary steps to protect …   Read More >>
 

MISSOURI MINIMUM WAGE – changing effective January 1, 2020

The minimum wage rate in Missouri will increase 85 cents each year through the year 2023.  The increases apply to all private, non-exempt businesses.  As a result, the new minimum wage rate will be $9.45 (up from $8.60) for all hours worked on or after …   Read More >>
 

NEW OVERTIME RULE – Effective January 1, 2020

The Fair Labor Standards Act (FLSA) provides basic workplace protections to most workers.  The federal labor law requires the federal minimum wage for every hour worked.  It also requires overtime at one and one-half times the regular rate of pay for ho …   Read More >>
 

What businesses should know about General Business Credits

The general business tax credit is not a single separate credit but a combination of specific tax credits that promote certain business activities, such as research, oil recovery, reforestation or starting a pension plan. Detailed information on how certa …   Read More >>
 

Tax Credit for Employers Providing Paid Family and Medical Leave

We would like to remind you that eligible employers who provide paid family and medical leave to their employees during tax years 2018 and 2019 might qualify for the new business tax credit. To claim the credit, eligible employers must have a writte …   Read More >>
 

Sales Tax Compliance Issues that May Affect Your Business

History In Brief
  • For years, the US Supreme Court’s Quill decision has limited states’ ability to require out-of-state companies to collect and remit sales tax on sales made to customers in their state.
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ESTATE PLANNING CONSIDERATIONS

  As you may be aware, the law has changed dramatically for estate and gift taxes in recent years. In 2011, the estate tax exemption increased to $5 million and there have been subsequent increases under the Tax Cuts and Jobs Act (TCJA). For 2019, …   Read More >>