To help businesses retain employees and keep them employed during the COVID-19 crisis, Congress has provided a refundable employer retention credit available to all qualifying employers regardless of size, including tax-exempt organizations. Do you quality for the credit? To qualify for the credit, employers must fall into one of two categories: Business Operations Curtailed: Eligible employers …
COVID-19
Self-Employed and Independent Contractors Now Qualify for Unemployment Benefits
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27th by President Trump, includes an unemployment assistance program for individuals who under normal circumstances would not qualify for unemployment benefits, which traditionally have only applied to employees. Under the CARES Act, unemployment benefits are now available for self-employed individuals, independent …
Self-Employed and Independent Contractors Now Qualify for Unemployment BenefitsRead More
How Can I File for Unemployment in Washington state or Oregon?
Need to know how to file for unemployment in Washington state or Oregon state? We’ve listed contact information and details about unemployment insurance below. In these times of uncertainty, governments all over the world are taking unprecedented action to support people who have been adversely affected by the COVID-19 pandemic. On March 12th, the U.S. …
How Can I File for Unemployment in Washington state or Oregon?Read More
Running Low on Money? Congress Has Made It Easier for You to Access Your Retirement Savings
If you are struggling financially due to the COVID-19 epidemic, you will be happy to know Congress, as part of the CARES Act enacted on March 27, has made it easier for you to access your retirement savings during this emergency. Normally, withdrawals from traditional IRAs and qualified plans such as 401(k)s, self-employed pension plans (SEPs), tax …
Running Low on Money? Congress Has Made It Easier for You to Access Your Retirement SavingsRead More
Working from Home During The COVID-19 Outbreak? It Probably Won’t Save You Much on Your Taxes
Even if you always hire a tax preparer to do your taxes for you, you probably know that the most effective way of reducing your tax liability is through deductions and tax credits. Since one of the biggest deductions available is the one taken for home office space, in this strange and disorienting period of …
Stimulus Legislation Includes SBA Loan Forgiveness
Among the hardest hit during the coronavirus epidemic are the small businesses that have lost their revenue sources and do not have the financial resources to weather the storm. In this case, the federal government’s SBA (Small Business Administration) Economic Injury Disaster Loan (EIDL) can help a business make it through these trying times with …
What Does The Cares Act Stimulus Package Mean for You?
The “Coronavirus Aid, Relief, and Economic Security Act” (Cares Act) includes many tax and financial breaks for both individuals and businesses. We broke down many of the essential elements and how they can assist you and your business during this troubling time. Cares Act Recovery Rebate The most talked about provision is the “recovery rebates” …
What Does The Cares Act Stimulus Package Mean for You?Read More
Live Updates: The Latest COVID-19 News for Taxpayers and Small Business Owners
As the whole world grapples with the personal, professional, and economic fallout of the COVID-19 outbreak, we wanted to help our tax and small business clients stay up to date on the latest news affecting them each day. Keep checking back for the top headlines to stay informed. Here is some of the important news …
Live Updates: The Latest COVID-19 News for Taxpayers and Small Business OwnersRead More
Congress Provides Sick Leave Benefits and Child Care Leave Benefits for Employees
The COVID-19 epidemic has created situations where employees are not able to work because they tested positive for the virus or have been quarantined after coming in contact with someone who has tested positive. It has also caused parents to miss work because their children’s school has closed due to the outbreak and there is …
Congress Provides Sick Leave Benefits and Child Care Leave Benefits for EmployeesRead More
