Vendor Communication Best Practices
The COVID-19 situation might affect your ability to pay rent, bank loans, insurance premiums, utilities, or vendors on a timely basis. If you are unable to pay these items, open...
13 April, 2020
Uncategorized
Coronavirus and Taxes: Frequently Asked Questions (FAQ)
The COVID-19 outbreak is affecting every facet of our lives – including our taxes. Check here for all your tax related FAQ to see how you may be impacted. Q1: Since...
13 April, 2020
3 Steps to Understanding Paycheck Protection Program (PPP) Loans
If you are a small to mid-size business owner with under 500 employees, it probably did not escape your attention that Friday April 3rd was the start date for applications...
09 April, 2020
Five-Year Carryback for Net Operating Losses Now Available
The December 2017 tax act (TCJA) eliminated NOL Carrybacks, and limited NOL Carryforwards to 80% of taxable income. The 2020 CARES Act temporarily eliminated these provisions and increased the previous...
09 April, 2020
COVID-19 Retirement Plan Changes
The last four months have been a tumultuous time for retirement plan distribution rules and in particular Required Minimum Distribution (RMD) rules. SECURE ACT CHANGES In late December 2019, long before Coronavirus...
09 April, 2020
CARES Act: Enhanced Unemployment Benefits, Self-Employed Now Qualify
The Coronavirus Aid, Relief, and Economic Security (CARES) Act enhanced standard Unemployment Benefits for those affected by COVID-19. It also created Unemployment opportunities for many who were traditionally not be...
08 April, 2020
Tax-Free Disaster Relief Payments for Employees
A Little Used IRS Code Section Applicable Now for Businesses! Internal Revenue Code Section 139 was initially created as a result of the 9/11 attacks. The intent was to allow employers...
07 April, 2020
Avoid COVID-19 Tax Scams
IR-2020-64, April 2, 2020 The Internal Revenue provided the following advice to taxpayers on April 2, 2020: Be on the lookout for a surge of calls and email phishing attempts about...
02 April, 2020