Individual Stimulus Payments Recap; 2020 Required Reporting
There are now 3 separate legislations providing a Stimulus payment to individuals. See below recap. In addition, individual taxpayers...
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Records In Order
Apr 9, 20212 min
2021 Tax Estimates are DUE April 15 & June 15: 2020 tax postponed to May 17
Mini-extension for 2020 individual returns: Surely you know that the State and Feds extended the individual tax filing date to May 17 –...
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Records In Order
Jan 18, 20212 min
US Bank releases instructions re PPP Funding, including some doc requirements (final paragraph)
We expect that all banks will issue similar instructions, so we provide this to you as an alert of what to expect from your financial...
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Records In Order
Jan 18, 20212 min
Now 2 types of 1099s, due 1-31-21 -- Our deadline for assistance is 1-22-21
1099 filings for 2020 are due January 31, 2021 for 1099 required vendors; such as, independent contractors, non-employees, and landlords....
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Records In Order
Jan 18, 20213 min
2020 Business Tax Preparation
We hope your 2021 year is starting off well. We certainly hope for an improvement over 2020. It is once again time to think about sending...
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Records In Order
Nov 16, 20203 min
California Required Statement of Information
REMINDER: Your business tax return does NOT include, nor does it replace the requirement to file a Statement of Information/Officers with...
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Records In Order
Nov 13, 20201 min
So the PPP loan is taxable after all?
Yes, and no. As we’ve previously written, there is no hurry to file for forgiveness of the PPP loan. You have plenty of time, there...
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Jul 15, 20201 min
REMINDER - July 15 is Tax Day
Just a reminder of things to get done for Wednesday, July 15. See your email for instructions from our office, and contact us with any...
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May 27, 20203 min
How to Get PPP Forgiveness
Guidelines were given last week, and regulations were just released near the midnight hour Friday May 22nd. There seem to be a bazillion...
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May 22, 20202 min
Disaster Loans Are Funding FW: Status of Your EIDL Loan, and Bridge Loans
Here’s the latest update, since our email below on April 29, on Disaster Loans from the SBA: The EIDL disaster assistance has 2 parts –...
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May 11, 20204 min
My PPP loan got funded! - Now what?
Note: This is the current guidance we have. Many organizations, including the AICPA, have provided recommendations to the Feds. Further...
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May 1, 20201 min
REMINDER: Medicare FFS advance payment Terms and Conditions
The HHS advance that was deposited to the business checking accounts of Medicare FFS providers around mid-April, is money that doesn’t...
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Apr 29, 20202 min
Status of Your EIDL Loan, and Bridge Loans
EIDL Process: We have been informed by the SBA that your loan application goes through 5 stages: Your application is pulled from the...
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Apr 29, 20201 min
Grant Money Now Available -- ALERT !! Notice from the SBA
Notice: Additional Economic Injury Disaster Loan Funding With the additional funding provided by the new COVID-19 relief package, SBA...
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Apr 27, 20202 min
Update on PPP loans and EIDL assistance
We’ve had our heads down working hard the last two weeks to assist clients with the EIDL grant and the PPP loan application. The SBA...
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Records In Order
Apr 18, 20202 min
Your SBA Money Is Still On Its Way
Unless you’ve been under a rock, you’ve heard about Thursday’s SBA announcement that they stopped taking ^lender applications^ for the...
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Apr 17, 20204 min
The Forgivable PPP Loan for Schedule C Owners and Partnerships
The SBA issued an ‘interim final rule’ which requires a sole proprietor business or independent contractor (Schedule C filer) to use the...
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Records In Order
Apr 15, 20204 min
Is the Employee Retention Credit or the PPP better for your business?
Many businesses with employees other than the shareholder will be eligible for the Employee Retention Credit [ERC] of up to $5000 per...
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Records In Order
Apr 15, 20204 min
Tax credits to pay for COVID paid leave requirements
This post is a reminder of your COVID paid leave requirements for retained employees. I will also explain how you get the tax credit to...
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Records In Order
Apr 14, 20202 min
The PPP or the Credit for Employer Federal Payroll Taxes?
From my posts, you know a lot about the PPP (Paycheck Protection Program) and the COVID paid leave requirement for retained employees....
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