President Trump has signed bipartisan legislation to modify the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP). The Paycheck Protection Program Flexibility Act of 2020 includes several significant updates affecting both borrowers and lenders participating in the program. Key Changes Availability of Loans • The Flexibility Act extends the deadline to apply for a...
Wealthy Americans and Corporations may be unaware of another benefit of Tax Reform’s sharp cut in the tax rate: IRS Audits are down sharply due to less funding. Don’t breathe easy just yet. States are seeking to fill revenue gaps and recover tax revenue losses due to Tax Reform, so while one type of tax...
Moving to Escape State Tax? Could You Pass the “Teddy Bear” Test? Are you a Northerner looking to flee to Florida to soak up sunshine and beat state income tax? Tax reform in the New York tri-state area hit high-earning residents with a new $10,000 cap on the federal tax deduction for state and local...
PLEASE NOTE CHANGES HAVE BEEN MADE DUE TO SUBSEQUENT LEGISLATION! The Employee Retention Credit, or ERC, is designed to help businesses keep employees on the payroll. It's not a loan, but it is a refundable tax credit - which means that you can get money even if you don't owe. The refundable tax credit is...
