Here is a quick rundown of the top 3 individual and business tax provisions in the COVID-Related Tax Relief Act of 2020 (part of the Consolidated Appropriations Act, 2021). Individual Provisions Economic Impact Payments – You may have already received a pending notification regarding your “second stimulus.” Please note, currently the law only allows $600 per taxpayer, spouse, and…
Category: Funding
Is The Third Time The Charm?
Things in Congress have been relatively quiet of late, thank goodness. After the flurry of activity in March and April, May was a nice reprieve. However, May also brought with it an entire new set of questions to be answered. We received the Payroll Protection Program Loan Forgiveness Application from the Small Business Association and the Final Interim Rules from…
Let’s Talk Forgiveness
The Payroll Protection Program money is finally flowing into the small businesses who need it, but with the money comes an impending sense of dread and confusion. What expenses can be forgiven? What if I don’t spend all the money? What if the forgiveness calculation doesn’t equal the total loan? What about the employees who refuse to come back to…
Overwhelming Chaos
Slow Down! Avoid ending up in a worse financial situation when this is all over.