by Sheri Hart | Aug 26, 2020 | Business Strategy, Financial Planning, Payroll, Small Business, Tax
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and Economic Security (CARES) Act,...
by Sheri Hart | Jun 5, 2020 | Business Strategy, Financial Planning, Non-Profit, Payroll, Small Business, Tax
In some welcome news, the Senate passed the House Bill to provide enhanced and, in many cases, more lenient guidelines for PPP loan forgiveness. As soon as the President signs The Paycheck Protection Flexibility Act, borrowers will be able to adjust their plans and...
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 | May 6, 2020 | Business Strategy, Financial Planning, Non-Profit, Payroll, Small Business
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...
by Sheri Hart | Oct 2, 2019 | Business Strategy, Financial Planning, Small Business, Tax
Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient, since it’s taxable to you to the extent of your corporation’s “earnings and...