To help businesses retain employees and keep them employed during the COVID-19 crisis, Congress has provided a refundable employer retention credit available to all qualifying employers regardless of size, including tax-exempt organizations.
Among the hardest hit during the coronavirus epidemic are the small businesses that have lost their revenue sources and do not have the financial resources to weather the storm. In this case, the federal government’s SBA (Small Business Administration) Economic Injury Disaster Loan (EIDL) can help a business make it through these trying times.
CDC Guidelines Practice social distancing – keep a minimum of 6 feet a part Wash hands often, with soap – for 20 seconds minimum Use hand sanitizer only if soap and water are not available Don’t touch your face Say home if you are sick or if a family member is sick Cover mouth and […]
To our valued clients and friends, Things are changing by the day as governments continue grappling with ways to provide relief during the Coronavirus Pandemic. Please see below for updates on various taxing jurisdictions: State of Oregon Except as specifically stated in this order, this order does not change any other payment, filing or other […]
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. Here are the questions you may be asking and what you need to know.
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
To our valued clients and friends, In IRS Notice 2020-18, the IRS granted additional relief to individuals impacted by the Covid-19 virus Pandemic. This Notice supersedes Notice 2020-17 by removing the tax payment limits and automatically moves the tax filing date from April 15 to July 15, 2020.
Dear Clients and Friends: We hope that you are keeping yourself, your loved ones, and your community safe from COVID‐19 (commonly referred to as the Coronavirus). Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping with the Coronavirus fallout. Below is summary […]
The “Coronavirus Aid, Relief, and Economic Security Act” (Cares Act) includes many tax and financial breaks for both individuals and businesses. We broke down many of the essential elements and how they can assist you and your business during this troubling time.
To our valued clients and friends: The Secretary of Treasury appears to be moving the tax due date to July 15th: “We are moving Tax Day from April 15 to July 15,” Secretary Steven Mnuchin tweeted. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.” He […]