Nothing is yet set in stone, but we want to alert clients to “expect the unexpected” when it comes to potentially significant tax and regulatory policy changes in 2021. The first hint of things to come may be hidden in President Joe Biden’s American Rescue Plan. The $1.9 Trillion COVID-19 relief package represents the Biden administration’s
Crunch Time for Crypto Taxation
Bitcoin rose above $52,000 on February 17th and has gained over 400% in 12 months. If you were lucky and bought bitcoin when it was worth less, you are sitting on big gains, which is why it is important to understand that the IRS views bitcoin and other cryptocurrencies as assets. Not currency and not
New PPP Access Window for Small Businesses Opens February 24th
President Joe Biden just announced there will be a 2-week period starting on Wednesday, February 24, 2021, during which only businesses with less than 20 employees will be able to apply for a Paycheck Protection Program (PPP) loan. The White House is hoping to further target the PPP Loan to the smallest businesses. The administration
Patience Needed for The PPP & ERC
“Patience is not the ability to wait, but the ability to keep a good attitude while waiting.” Patience is a virtue when it comes to PPP loans and forgiveness applications, it needs to be done right and that takes time. Matters have been complicated by changing guidance and regulations that continue to be published weekly,
