by Doug Kook | May 28, 2020 | Business Strategy, Financial Planning, Non-Profit, Payroll, Small Business
With the release of the PPP Loan Forgiveness Application and related guidance, we now have some needed clarification – and yet are left with many unanswered questions. The rules continue to evolve as the 8-week coverage period approaches the finish line for...
by Sheri Hart | Apr 15, 2020 | Business Strategy, Financial Planning, Payroll, Quickbooks & Bookeeping, Small Business, Tax
The IRS has issued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under two laws passed in response to the coronavirus (COVID-19) pandemic. The two laws are the Families...
by Sheri Hart | Mar 31, 2020 | Community, Financial Planning, Payroll, Small Business, Tax
On March 27, another coronavirus (COVID-19) bill was signed into law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Employee retention...
by Sheri Hart | Mar 23, 2020 | Business Strategy, Community, Financial Planning, Non-Profit, Payroll, Small Business, Tax, Uncategorized
Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief. In a separate development, the IRS has issued guidance allowing taxpayers to defer any amount of federal...
by Sheri Hart | Jun 10, 2019 | Financial Planning, Payroll, Small Business, Tax, Uncategorized
If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty can be imposed. To make matters worse, the penalty can be assessed personally against a “responsible...