Blog Posts
Topics & tips about accounting, taxes, business, personal finance, and more!
Application for Paycheck Protection Program Loans Extended
The deadline to apply was extended from June 30 to August 8. If you are a small business and still need financial assistance during these challenging circumstances,you now have more time to do so. On July 4, President Trump signed a bill that extends the application date for PPP loans to August 8. Key Points:
Yes, You Must Pay Taxes on Unemployment Benefits
As of now, the enhanced unemployment benefits put into place under the CARES Act are set to end before July 31. This means the $600 additional federal unemployment per week that millions of Americans have been receiving as aid during the coronavirus pandemic will come to an end. Qualified recipients will be eligible for state
How the Paycheck Protection Program Flexibility (FLEX) Act can help your business through COVID-19
The Senate unanimously passed the Paycheck Protection Program Flexibility Act of 2020 (PPFA) late in the day Wednesday, June 3, 2020. After the House passed the bill last week 417 to 1, the Senate reconvened this week and the bill now advances to President Trump to be signed into law. He is expected to sign
2020 Tax extensions you should know about
The coronavirus pandemic has led the IRS to extend important tax deadlines in 2020. This is the first time in my recent memory that the IRS has extended the filing date, so it’s important to plan accordingly and take advantage of it! Here is what you need to know: July 15 is the new April 15 The
How will the IRS treat your Venmo payments to and from your business?
The convenience of Venmo and payment-to-payment apps like Zelle, Chase QuickPay, and Cash App have many businesses, both large and small, using the application to make and receive payments for services and or products. What is Venmo? Venmo is a mobile payment app that allows you to send money from your phone directly to recipients.
Stimulus money: When are stimulus checks being sent out? Find out if you qualify
You’ve probably heard that the IRS will be making millions of “economic impact payments” (also known as “recovery rebates”) in the coming months to help people stay afloat during this time of economic uncertainty related to the COVID-19 pandemic. Here’s what you need to know about this program. Amount of Payment: The IRS will soon
