The US government recently passed the Paycheck Protection Program Flexibility Act of 2020 (PPPFA), which makes it easier for businesses to get forgiveness for their Paycheck Protection Program (PPP) loans and offers additional sources of relief. Recently, the Small Business Administration (SBA) released additional guidelines to clarify the original policy.
With the Paycheck Protection Program Flexibility Act of 2020, the United States government has made it easier for businesses to get their Paycheck Protection Program (PPP) loans forgiven. The act also offers relief to businesses that receive PPP loan forgiveness.
The US government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide support to businesses and individuals during the coronavirus (COVID-19) pandemic. Part of the CARES Act gives stimulus payments directly to families to help them financially during the crisis. Most Americans are eligible for stimulus payments, and there may be an additional stimulus check issued in the future.
As the US starts to consider life after the coronavirus (COVID-19) pandemic, many businesses face a long, arduous path to recovery. In this article, we address some of the most important aspects of your business recovery journey, like workplace safety, Small Business Administration (SBA) loans, immigration changes, and safeguarding your confidential information
Many charities are seeing a shortfall of income during the coronavirus (COVID-19) pandemic. To help make up this gap, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) has increased the amount of cash donations to public charities that both individuals and businesses can deduct on their 2020 income taxes.
The Main Street Lending Program (MSLP) is designed to help small and medium-sized businesses maintain payroll and operations during the coronavirus (COVID-19) pandemic. It complements other US government loan programs like the Payroll Protection Program (PPP) for smaller businesses and the Primary Market Corporate Credit Facility (PMCCF) for larger businesses.
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Paycheck Protection Program (PPP) loans can be forgiven even if your laid-off employee(s) refuse to return to work at the same hours and pay, according to an announcement by the US Treasury Department. Companies in this position will not be penalized with a reduced loan forgiveness amount.
Khushbu Doshi’s favorite part of her job is that she gets to constantly face new challenges in various areas of her work. Whether she is helping a client develop solutions for their business, or navigating changes to tax and audit laws, Khushbu relishes being able to deliver results that exceed client expectations. One of Khushbu’s recent wins was helping a client save almost $400,000 in taxes.
To help manage to the impact of the coronavirus (COVID-19) pandemic, many employers who operated a business during 2020 can claim the refundable Employee Retention Credit (ERC) payroll tax credit under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The credit is equivalent to 50% of wages paid during the COVID-19 crisis.