Do you accept credit cards? Then read this.
You may have already heard about the multi-billion-dollar legal settlement if you accepted credit cards from 2004-2019. Here’s the warning: you do NOT need a lawyer to claim your part of this settlement. But there are lawyers now advertising to do it all for you, for 20% of any recovery. All of the information you […]
Cash is King…Especially Now
Cash flow has always been the lifeblood of any business. With COVID cases raging in some states and creeping upwards in our region, it is clear the pandemic will be with us for the foreseeable future. Whether your business remains on life support or has been on the road to recovery, managing cash flow is […]
Will PPP Loans and EIDL Advance be Taxable?
PPP Loans The IRS has clarified that if your loan money is forgiven, it won’t be considered taxable income. BUT, nor will it be eligible for tax deductions, even though you likely used it for expenses that normally would be tax deductible. This will leave you with a tax liability. For example, if you received […]
PPP Loan Forgiveness Applications Due Dec. 31, 2020 – But Please Don’t Wait Until the Last Minute!
While the deadline gives everyone some breathing room, there are several different permutations that will be calculated to determine the best way for you to file for forgiveness. And there will be a flood of applicants at the end of the year. For your sake (and your tax professional’s), don’t wait until the holidays to […]
More PPP Guidance Released by the SBA
Every Small Business Owner Needs a CFO – Especially Now
As a small business owner, you may not feel you can justify the expense of a full time CFO. But there are times you absolutely need someone with a trained financial mind to help you make big decisions, plan for the future – and ensure you are properly tracking your finances. Here are just […]
SBA Clarifies Last Week’s PPP Legislation
When the latest PPP legislation passed last week, it eased a number of restrictions, making far easier for businesses to qualify for loan forgiveness. While the 75% requirement for payroll had been reduced to 60%, the original wording implied that this 60% level would be a “cliff,” below which no forgiveness at all would be […]
PPP Restrictions Eased – New PPP loan Legislation Just Passed
GREAT news if you have a PPP loan or are still considering applying for one. Congress moved quickly this week, and the president JUST signed it into law. We share the highlights of the new PPP loan legislation below. Please contact us with any specific questions – the loan forgiveness calculations are still complex, and you […]
Valerie McLaughlin’s “Real World” Personal Strategy Note The Good News!
First … some good news for the young (particularly those with student loans): The new CARES Act indicates that you do NOT need to pay interest or ANY payments on eligible student loans for six months. Through 9/30/20, borrowers will have no interest accrued and NO payments due. Even better, the adjustment will be automatic; […]
Some Good News Regarding the July 15th Tax Filing Deadline
It feels to me that we’re all in need of some good news. I have some great news for the young (ish) and the old (ish), but before I get there, I’d like to encourage EVERY person who is reading this to: Keep your head in the game! Yes — we can […]