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News2020-06-08T08:24:38-05:00

Family Business Trends in a Post-COVID-19 World

This article discusses how the coronavirus pandemic has impacted the national economy, and in particular, family enterprises. However, being educated on emerging trends such as the rise of small cities, an increase in digitalization, and a slowdown in globalization can help your family business get back on the right track. To view this article, click HERE to access the original content.

September 17th, 2020|

Opportunity Zone Tax Incentive Benefits

This article discusses a rare opportunity that the Tax Cuts and Jobs Act have produced for investors in the United States. Long story short, this act is incentivizing investors to invest in distressed communities in order to receive tax benefits in the hopes of “spur[ing] economic development and job creation” in those regions. Be sure to check out this article for more details surrounding the opportunity zones qualifications needed! To view this article, click HERE [Read More]

September 3rd, 2020|

IRS Issues Guidance Regarding Payroll Tax Deferral

On Friday, August 28, the Internal Revenue Service (IRS) released Notice 2020-65, which offers guidance regarding the implementation of the Presidential Memorandum on the deferment of some payroll taxes. The memorandum, which was released by the President on August 8th, called for a deferral of the employee share of social security tax (or the railroad retirement tax equivalent) due between September 1, 2020, and the end of the year. The deferral applies to employees who [Read More]

August 31st, 2020|

SBA and Treasury Release Additional PPP Guidance

On August 24, the Small Business Administration and Treasury made available a new set of guidance regarding Paycheck Protection Program (PPP) forgiveness issues. The new interim final rule covers two areas: owner-employee compensation and the eligibility of non-payroll costs. A recent article from the Journal of Accountancy offers a concise summation of the new regulations. Owner-employee compensation – For the purposes of calculating loan forgiveness, C-corporation and S-corporation owners who hold less than a 5% stake [Read More]

August 28th, 2020|

How COVID-19 Has Changed Business Forever

This article discusses how the coronavirus pandemic is impacting a number of industries in multiple ways. Some of the trends include working from home, hiring based on technology skill set, and restaurants teaming up with delivery services permanently. No matter your industry, being aware of these trends and how they will impact businesses on a day-to-day basis will provide a competitive edge during this unstable time. To view this article, click HERE to access the [Read More]

August 20th, 2020|

11 Small Business Accounting Tips to Save Your Business Time and Money

This article discusses some accounting tips that your small business should consider following in order to become more efficient. There are many details business owners must consider, managing your accounting practices early on will allow you to focus on the work of growing your business. Whether it is as simple as separating your personal and business expenses or eventually making things automated, getting back to basics can go a long way to saving you time [Read More]

August 14th, 2020|

4 Tips to Stabilize Your Small Business

In this time of uncertainty, knowing about and implementing some best practices within the industry can go along way in the health of your business. This article discusses four tips that you can take advantage of, such as keeping your customers up-to-date, shifting to an online focus, and managing expenses. To view this article, click HERE to access the original content.

August 6th, 2020|

SBA Issues 23 New PPP FAQs

On August 4th, the U.S. Small Business Administration (SBA) released additional guidance regarding forgiveness of Paycheck Protection Program (PPP) loans. In consultation with the U.S. Department of the Treasury, the SBA added 23 new questions to their PPP FAQ page. The SBA sorts the new loan forgiveness FAQs into the following four categories: General Guidance - The first three FAQs cover broad subjects: which forgiveness application should be used by sole proprietors, independent contractors, and [Read More]

August 5th, 2020|

Main Street Lending Program Provides Working Capital for Small Businesses

The Main Street Lending Program is designed to help credit flow to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic. Loans originated under the program have several features that will help businesses and nonprofits facing challenges, and loan sizes start at [Read More]

July 30th, 2020|

Unique IRA Opportunities for 2020

As bad as it has been financially for many individuals, 2020 does provide some unique tax opportunities for those who have traditional IRA accounts. These range from converting traditional IRAs to Roth IRAs, retirees making larger-than-normal IRA withdrawals, and the decision whether to take advantage of the required minimum distribution suspension for 2020. Let's look at these prospective tax strategies to see if they might apply to you. CONVERSION OF A TRADITIONAL IRA TO A [Read More]

July 28th, 2020|
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