Articles
Required Minimum Distributions for 2020
Episode 71 - One overlooked provision of the CARES Act, passed in late March, is the elimination of Required Minimum Distributions for 2020. But what if you already took your distribution earlier this year? There may be a way to fix the problem.
Coronavirus Stimulus Package – New Funding for Paycheck Protection Program Loans
Small-business owners who tried to apply for the Paycheck Protection Program (“PPP”) but were shut out when initial funding from the CARES Act dried up, need to submit their applications now, if they haven’t already. The PPP received new funding today when President...
Coronavirus Stimulus Package – Paycheck Protection Program Loans Revisited
If you’re a business owner and you were shut out from applying for or receiving a loan from the Paycheck Protection Program (“PPP”), complete your application now and have it ready to file. In fact, check with your lender to see if they are accepting applications in...
Coronavirus Stimulus Package – Related Tax Credits for Required Paid Leave
On Friday, April 17, the IRS released guidance in the form of frequently asked questions with regard to refundable tax credits, authorized by the Families First Coronavirus Response Act enacted on March 18, 2020. The credits provide funds to small- to medium-sized...
Getting Through the Crisis—Social Security and Voluntary Suspension
Episode 68 - With all this talk about COVID-19, have you thought about Social Security? If you’re faced with a sudden need to find money to pay your bills, Social Security can provide a valuable lifeline. All you need to do is become familiar with...
Coronavirus Stimulus Package – Paycheck Protection Loans Available Now
April 3 is the opening day for small businesses to apply for the Paycheck Protection Loans (“PPLs”), authorized by the CARES Act, through authorized Small Business Administration (“SBA”) lenders. Remember, that these are loans that may be forgiven if certain...
IRS Guidance on Employee Retention Credits
Many of our small business owners, as well as their employees, have been adversely impacted by COVID-19. The CARES Act promises incentives and relief for keeping workers on the payroll during these tough times. The IRS recently issued guidance in the form of questions...
Coronavirus Stimulus Package – IRS Information on Economic Impact Payments
Much of America is anxiously awaiting the assistance promised by the CARES Act, in particular the individual rebate payments (officially called the economic impact payments). The IRS recently issued guidance in the form of questions and answers about these payments,...
COVID-19 Legislative Action – Part 2
Episode 67 – As a result of the economic impact that the novel coronavirus has had on this country, on March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (“CARES”) Act. This far-reaching legislation stands as the largest emergency aid package in U.S. history. Here’s a summary of the CARES Act provisions. Continue Reading COVID-19 Legislative Action – Part 2
COVID-19 Legislative Action – Part 1
Episode 66 – To help the American public during the COVID-19 pandemic, the federal government has instituted some legislative measures. In this podcast, we summarize those measures, as well as provide another reminder of the CDC recommendations to help mitigate and prevent the spread of illness in our community. Continue Reading COVID-19 Legislative Action – Part 1
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