Category: Tax

Tax

Which COVID-19-Related Payroll Tax Credits Is My Business Eligible to Receive? by Cherry Laufenberg, CPA


Posted on July 02, 2020 by Cherry Laufenberg

In the wake of the COVID-19 pandemic, the U.S. enacted laws providing a variety of financial-relief measures to support businesses struggling to maintain operations and payroll through the crisis period. Key among those provisions are tax credits for businesses that retain employees despite full or partial suspensions of their operations and that continue to pay […]

Avoid Elevated Risks of Fraud and Other Financial Scams Related to COVID-19 by Rick D. Bazzani, CPA


Posted on June 26, 2020 by Rick Bazzani

The COVID-19 pandemic has not slowed the pace of financial crimes targeting taxpayers. In fact, the IRS Criminal Investigation division (CI) has noted an increase in coronavirus-related scams seeking to steal taxpayers’ money and personal information. Reducing your risks of falling victim to these schemes requires you to take precautionary measures to secure your data […]

PPP Loan Recipients Receive New Guidance, Applications for Loan Forgiveness by Andrew Leonard, CPA


Posted on June 18, 2020 by Andrew Leonard

The SBA this week released another round of guidance relating to the Paycheck Protection Program, including two new applications borrowers must use when seeking forgiveness of loan amounts. These updates reflect borrower-friendly changes contained in the recently enacted PPP Flexibility Act of 2020. New Applications for Loan Forgiveness In addition to issuing a revised, long-form […]

SBA Reopens Economic Injury Disaster Loans to Small Businesses, Independent Contractors and Gig Workers by Judd Appel, ABV


Posted on June 16, 2020

On June 15, 2020, the Small Business Administration (SBA) announced the reopening of its Economic Injury Disaster Loan (EIDL) program, which includes forgivable advances of up to $10,000, to help small businesses and nonprofits ease cash flow challenges resulting from the COVID-19 pandemic. The program, first introduced on March 27, had been suspended temporarily to […]

UPDATED JUNE 4, 2020- Small Businesses Receive More Relief under SBA Paycheck Protection Program by Joseph Leuchter, CPA


Posted on June 04, 2020 by Joseph Leuchter

The Paycheck Protection Program and Health Care Enhancement Act, signed into law on April 24, earmarks an additional $320 billion for the Small Business Administration’s (SBA’s) highly sought-after PPP, which exhausted all its initial $349 billion in funding in less than two weeks. One reason for the program’s popularity is that it enables borrowers to […]

Individuals, Businesses Receive More Incentives to Make Charitable Donations in 2020 by Jack Winter, CPA


Posted on June 02, 2020 by Jack Winter

The financial impact of the COVID-19 health crisis will leave a lasting impression on individuals and businesses throughout the world. For nonprofit organizations that rely on public donations to fund research and services for those in need, the pandemic can be devastating. In response, the CARES Act offers U.S. individuals and businesses greater incentives to […]

How Should Single, Unmarried Property Owners Title Florida Homestead? by Jeffrey M. Mutnik, CPA/PFS


Posted on May 29, 2020 by Jeffrey Mutnik

Deciding how to title Florida homestead can be a vexing issue, especially for single property owners, including individuals who become unmarried due to death or divorce. In Florida, homestead designation provides state residents with incredible benefits, including the ability to protect a primary residence from creditors as well as a Save our Homes assessment cap […]