The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be opportunities for some businesses to file amended tax returns. If you hold an interest…
Business charitable contribution rules have changed under the CARES Act
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.…
New Info Published Last Night on the SBA Loan Program
Please be advised that additional provisions and clarifications were published last night regarding the Paycheck Protection Program that I thought you may have an interest in.
PAYROLL PROTECTION PROGRAM – The time to act is NOW!
Paycheck Protection Program Application & Information On Friday, March 27, 2020, the President signed the Cares Act into law. As a part of the act, it included funding of $349 billion of partially forgivable small business loans. Yesterday afternoon, March…
COVID-19 BUSINESS PROVISIONS
COVID-19 BUSINESS PROVISIONS IRS Extends Filing and Payment Deadline The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Federal income taxes on April 15, 2020, are automatically extended until July 15, 2020. This…