Category: Finance

Debate continues in Congress over proposed tax changes

  Negotiations continue in Washington, D.C., over the future of President Biden’s agenda. Tax law changes may be ahead under two proposed laws, the Build Back Better Act (BBBA) and the Bipartisan Infrastructure Bill (BIB), also known as the Infrastructure Investment and Jobs Act. The final provisions remain to be seen, but the BBBA and,…
Read More

Disasters and your taxes: What you need to know

Weather-related disaster tax relief

Homeowners and businesses across the country have experienced weather-related disasters in recent months. From hurricanes, tornadoes and other severe storms to the wildfires again raging in the West, natural disasters have led to significant losses for a wide swath of taxpayers. If you’re among them, you may qualify for a federal income tax deduction, as…
Read More

IRS issues ERC guidance as Congress mulls early termination

The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19 pandemic. Notice 2021-49 addresses various issues, particularly those related to the extension of the credit through 2021 by the American Rescue Plan Act (ARPA). The…
Read More

SBA streamlines forgiveness for smaller PPP loans

PPP loan forgiveness 2021

  The Small Business Administration (SBA) has released new guidance intended to expedite the PPP loan forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less.  The SBA reports these loans account for 93% of outstanding PPP loans. The guidance comes at…
Read More

PPP loans: What businesses need to know now

PPP Loans

  A critical deadline is approaching for many of the businesses that have received loans under the Paycheck Protection Program (PPP), which was created in March 2020 by the CARES Act. If these borrowers don’t take action before the deadline expires, their loans will become standard loans. This could them to be responsible for repaying…
Read More

Page 1 Page 2 Page 3 Page 4