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Business charitable contribution rules h...

In light of the novel coronavirus (COVID-19) pandemic, many businesses are interested in donating to charity. In order to incentivize charitable giving, the Coronavirus Aid, Relief and Economic Security (CARES) Act made some liberalizations to the rules governing charitable deductions. Here are two changes that affect businesses: The limit on charitable deductions for corporations has…

Payroll Protection Program (PPP) Loan Up...

Because the regulatory requirements surrounding the Payroll Protection Program (PPP) Loans are continuing to change, we feel it is crucial to update you on some recent developments:   Employers looking to rehire employees that have been receiving unemployment must make a good faith, written offer to rehire them. An employee who rejects that offer must…

Coronavirus (COVID-19): Tax relief for s...

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 income tax payments due on April 15, 2020, until July 15, 2020, without penalties or…