President Trump is expected to sign into law today the legislation to fund the government for the remainder of the fiscal year which includes the long awaited Covid relief package. The highlights we believe are most important for small businesses:…
The CARES Act granted several valuable federal tax breaks for individuals and businesses. But most will expire at the end of 2020 or at the end of tax years that begin in 2020. Here's a roundup of tax breaks scheduled to…
On September 11, the U.S. Department of Labor issued revisions that impact the paid sick leave and expanded leave provisions under The Families First Coronavirus Response Act (FFCRA or Act). These revisions are intended to help to clarify employers’ responsibilities and…
COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations. 1. Working from home. Many employees have been told not to come into their workplaces due…
Scammers are once again taking advantage of a bad situation and have hatched up several new schemes during the coronavirus pandemic. Recently a group of online thieves collected millions of dollars in unemployment insurance benefits from COVID-19 economic relief efforts.…
Finding resources for COVID-19 relief programs can be overwhelming. Many states provide information on their websites about programs they have made available for their resident businesses. If you operate a business in Kansas or Missouri, you’ll find the latest information…
Over the weekend, President Trump made several announcements relating to additional government assistance in the wake of the coronavirus pandemic. Likely the most notable for business owners is his call to halt payroll taxes for employees earning less than $4,000…
The second half of 2020 has begun. What steps can small business owners take today to lower taxes for the current tax year? Alternatively, would it make more sense to maximize taxable income this year if you expect higher income…
The U.S. Senate has voted to extend the deadline for businesses to apply for coronavirus aid under the Paycheck Protection Program (PPP). Previously set to expire on June 30, the Senate has paved the way to extend the application deadline…
The IRS and the U.S. Treasury had disbursed 160.4 million Economic Impact Payments (EIPs) as of May 31, 2020, according to a new report. These are the payments being sent to eligible individuals in response to the economic threats caused…