Phase 2 of the Paycheck Protection Program: Forgiveness

Phase 2 of the Paycheck Protection Program: Forgiveness

The Paycheck Protection Program begins phase 2: forgiveness! On Friday evening, May 15, the SBA released the PPP Forgiveness Application, with a notable absence of guidance from the treasury. The form and instructions offer borrowers details on how to apply for...
Updated IRS tax guidelines business owners need to know

Updated IRS tax guidelines business owners need to know

We communicated earlier this week initial updated tax guidelines from the IRS regarding emergency relief for individuals and small business owners. Well, the IRS has released updated guidance on tax deadlines which supersedes previous guidance: The deadline for making...

Should your finances shelter in place?

We are expecting more volatility as daily corona-virus updates are communicated globally. We’re collectively aware of the uncertainty this situation has presented for us all. I think we can also agree this is a situation unlike any other we’ve ever...

Do you know how COVID-19 affects your taxes 100%?

Last week, President Trump signed the Families First Coronavirus Response Act. Congress is also working on an even newer Coronavirus relief bill. Federal income-tax payments can be deferred to July 15th.   What is already determined? 1.Taxpayers do NOT have to...