News & Updates
Employee Retention Credit Could Help Your Business
Employee Retention Credit Could Help Your Business Businesses that have been impacted financially by COVID-19 may be able to take advantage of a new, refundable tax credit called the Employee Retention Credit. The credit is designed to encourage businesses to keep...
Job Loss Could Affect Your Tax Situation
Job Loss Could Affect Your Tax Situation If you've lost your job you may have questions about how it could affect your tax situation. Here are some answers: Q: I lost my job. How does this affect my tax situation? A: The loss of a job may create new tax issues. For...
Relief for Businesses with Net Operating Losses
Relief for Businesses with Net Operating Losses Taxpayers with net operating losses (NOLs) form a business are provided tax relief under the CARES Act. Tax relief for partnerships filing amended returns is provided as well. Let's take a look at three key points: 1....
The Tax-Smart Way to Loan Money to Friends & Family
The Tax-Smart Way to Loan Money to Friends & Family Offering to lend money to cash-strapped friends or family members during tough economic times is a kind and generous offer, but before you hand over the cash, you need to plan ahead to avoid tax complications for...
Tax Breaks Help Small and Medium-sized Employers
Tax Breaks Help Small and Medium-sized Employers Small and medium-sized employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing coronavirus-related...
CARES Act: Information for Individual Taxpayers
CARES Act: Information for Individual Taxpayers The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the stimulus bill that was signed into law on March 27, 2020, contains legislation to stabilize the economy during the coronavirus pandemic. These measures...
Tax Returns & Estimated Taxes Now Due July 15
[vc_row][vc_column][vc_column_text] Tax Returns & Estimated Taxes Now Due July 15 Due to the coronavirus pandemic, the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax...
Paycheck Protection Program (PPP) Information Sheet: Borrowers
Paycheck Protection Program (PPP) Information Sheet: Borrowers The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for...
SBA Business Loans Side by Side
President Trump Signs Into Law CARES Act
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The CARES Act is the third round of federal government aid related to...