Accounting & Finance Articles

Welcome to our Resources section, where you will find articles on accounting and finance for businesses and individuals, as well as resources to aid in business financial planning across a variety of industries we serve. Please contact us for personalized advice in accounting and finance. Maxwell Locke & Ritter is here to offer trusted guidance.



Maxwell Locke & Ritter is pleased to announce that Doris Ayala has been promoted to Partner. Doris joined Maxwell Locke & Ritter in 2012 and provides tax compliance and consulting services to business entities and their owners.

As the end of the year approaches, we review a few 2020 year-end tax planning topics for business owners.

On November 18, 2020, the IRS released new guidance clarifying its current position on whether and when taxpayers may deduct expenses that were paid for with PPP loans that are expected to be forgiven. This guidance should be taken into consideration for tax planning and estimates.


Getting a divorce can be distressing. You don’t want to make matters worse by making decisions that will cost you more in taxes. Here are four issues to consider if you’re in the midst of getting a divorce.

The TCJA, which went into effect in 2018, roughly doubled the standard deduction. This has led to fewer people claiming itemized deductions and has increased the importance of planning the timing of certain itemized deductions for some taxpayers. Depending on your situation, you may want to accelerate, or possibly defer, deductible expenses in 2020 as discussed in this article.

We want to review some of the important 2020 tax changes and how it affects investors and estate/gift planning with you.

Paycheck Protection Program (PPP) loans of $2 million and higher are subject to additional requirements to certify in good faith that the loan was needed.


Employees pay Social Security tax on their wages up to the current tax year’s “wage base.” The Social Security Administration just announced the base amount for 2021.

Entrepreneurs: Don’t ignore saving for retirement. Here are the basics of tax-favored plans to help build your nest egg.


Besides helping a worthy cause, your donations may qualify for a festive write-off on your 2020 tax return if you qualify. Here are five ways to boost your deduction for charitable contributions if you itemize.

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