As you file your 2020 taxes, you will find that COVID-19 has had some major impacts on the process, as it has on most things over the past year. In fact, the IRS has delayed the start and deadline of tax filing season this year. There are multiple considerations for businesses and individuals alike for…
COVID-19
2021 Tax Strategies: Part 1
The reverberations of the COVID-19 pandemic continue to be felt in most areas of life. These impacts will certainly influence how you file your 2021 taxes. Whether you’re a business owner trying to maximize the credits you receive for keeping employees on the payroll or an individual wondering how working from home over the past…
Balancing ERC and PPP Loan Forgiveness
As the pandemic continues to impact businesses, expanded Employee Retention Credit (ERC) and Paycheck Protection Program (PPP) loan forgiveness options were passed in December 2020 as part of the Consolidated Appropriations Act. This new provision applies retroactively to the pandemic-impacted quarters of 2020 to allow PPP loan recipients to claim ERC for those periods. Further,…
Is Your Business Eligible for the Employee Retention Credit?
It is difficult to overstate how severely COVID-19 has disrupted business. Many business owners navigated complex systems to tap into financial assistance from the federal government, such as PPP loans, in order to keep their employees on the payroll. If you fought hard to protect your employees and continued to pay them even while your…
Video Walkthrough: Understanding How the PPP Loan Works
As a small business owner, it’s a good idea to make yourself aware of your options for financial assistance during the COVID-19 crisis. One of the most important options available to you is the Paycheck Protection Program (PPP) loan. What is the PPC Loan? This program is designed to help business owners continue to pay…
Video Walkthrough: Applying for the EIDL Loan
If you’re a small business owner, then it’s likely that you’ve been looking at recent news with no small degree of concern. The spread of COVID-19 and the economic repercussions that have accompanied it have had a significant effect on small businesses around the country. However, help is available in the form of the Economic…