PPP2 Application Details
We have had a lot of calls and questions coming in from clients asking to help with the latest PPP 2 application process.So, we thought we would throw out a few important details for those of…
Relief Bill Offers Provisions for Families and Children
The second stimulus package (Consolidated Appropriations Act, 2021) includes $10 billion to provide immediate assistance to child-care providers and $250 million for the Head Start program. Who is in line for this aid? There are multiple…
Hidden Tax Break: Meal Deductions Get a Boost
The recently passed relief bill, officially called the Consolidated Appropriations Act, 2021, contained a provision designed to give a boost to the restaurant industry: upgrading what had been a 50% meal deduction to 100% for "food…
Proposition 19 and Your Property Taxes
Last November, California voters passed Proposition 19, making two major changes to the state’s property tax laws. The first change impacts the property tax on transfers of property between parents and children, and the second impacts…
What the New PPP Means for Your Business
Enacted at the end of 2020, the Consolidated Appropriations Act, 2021, allocates $325 billion to small businesses, nonprofits and venues hit hard by the COVID-19 pandemic. Of that amount, approximately $284 billion goes toward the Paycheck…
DO YOU HAVE A “WEIRD” BUSINESS STRATEGY? IF NOT, NOW IS THE TIME TO GET ONE!
I’ve written about this before in bits and pieces, but today, I decided to sit down and organize my thoughts on “weirdness.” I think that one of the best strategies for building a future for your company…
Tax Law Changes and Other Congress Updates – As of December 21, 2020
On Monday, Congress approved the second longest piece of legislation ever written. This is our hot-of-the-presses summary but bear in mind that it might be two or three weeks before we really understand all of the…
Tax Planning – Quarterly Estimated Tax Payments
One of the most important parts of tax planning is quarterly estimated tax payments. Estimates are required to be paid by certain individuals, trusts, and businesses. These payments are made by taxpayers to avoid what…
Tax Comparisons
With Election Day just around the corner, we wanted to help you sift through the rhetoric by providing you with a comparison of Trump and Biden’s tax proposals. Of course, it bears noting that these proposals often…
Relief for Businesses with PPP Loans of $50,000 or Less
In its October 8 interim rules, the Treasury Department and Small Business Administration offered some relief for businesses with PPP loans of $50,000 or less. In short, most borrowers with loans of $50,000 or less may…
A Game Changing Book
The Four-Word Question That Changed My Life Confession: For most of my life, I went about solving problems and accomplishing goals in a manner that limited my potential. I ruminated on the how. How do I…
Payroll Tax Deferral Highlights
Just a few of the important key points of the new Payroll Tax Deferral plan President Trump has released.
Payroll Tax Deferral Program – UPDATE
SEPT 3 UPDATE - The IRS released a little more clarification. The decision to participate in this payroll deferral program does remain in the employer's court. However, we are still unclear whether or not, if the…
Borrowers Beware!
For those of you who received PPP loans of over $150,000, be aware that the government has published your name, address, the range of your PPP loan amount, as well as the number of employees…
News Flash … for Those Who Really Care About PPP
One flash for everyone is this: The Treasury has decided to NOT extend the deadline for filing tax returns for 2019 beyond July 15. Sorry everyone, but you can still file for an extension. The next…
You might fall asleep (like I did…)
You might be tired of sorting through all the fine details of PPP, but we do have some important updates. That said, our disclaimer still stands: Seek counsel with your advisors to help you with your…
Thanks to the Heroes at RSJ!
The intensity is extraordinary. In fact, when an accountancy firm represents a seller during an m&a transaction, the intensity is even more extraordinary than it is during tax season. “Unlike tax season, there is…
NEWS! NEWS! NEWS! Some bad, some good …
This afternoon, the Senate passed HR7010, which we discussed in last week’s update. This is what we understand to be true, though it is not exhaustive. The so-called covered period has been extended from 8 weeks…
BLAST-WORTHY NEWS
It’s been a week or so since our last blast, so some of this might be old news. That said, the devil is in the detail, and we have done our best to make sense of…
Even Banks Are Getting It Wrong
If we were to pick one word that described this time in history, I think we can all agree that “uncertainty” tops the list. That said, we are here to answer your questions and clear up…