KEY PROVISIONS OF THE CARES ACT AIMED AT INDIVIDUALS

The Coronavirus Aid, Relief, and Economic Security (CARES) Act introduced a variety of assistance to businesses, industries and individuals. Perhaps the most talked about assistance was the establishment of the Paycheck Protection Program and the Payroll Protection Loans offered through that program. Here we will focus on provisions of the CARES Act aimed at providing […]

PPP Loan Update: Payroll Protection Program Flexibility Act

On June 8, 2020, President Trump signed The Payroll Protection Program Flexibility Act into law, which allows the following changes to the PPP loan program. The SBA, in consultation with Treasury, will issue rules and guidance, a modified borrower application form, and a modified loan forgiveness application implementing the amendments to the PPP made in the new […]

Paycheck Protection Program – Loan Forgiveness Summary

Clients are beginning to receive funding from their Paycheck Protection Program loans and there are things you need to know to ensure forgiveness of these loans. Once the Paycheck Protection Program proceeds are received, the eight week period begins and a business must document how the proceeds were used and provide a computation of the number of equivalent full time employees […]

COVID-19 Update

We are continuing to monitor closely the ongoing Coronavirus outbreak. Our priority is to protect the health of our personnel, their families and their communities, while continuing to provide exceptional client service with limited disruption. In light of the recommendations to reduce exposure wherever possible, we will eliminate both non-essential third-party access to our office […]

Kiddie tax: New hazards, new opportunities

Despite its name, the “kiddie tax” is far from child’s play. And a change made by the Tax Cuts and Jobs Act (TCJA) puts some adult teeth into the tax. Now, children with unearned income may find themselves in a tax bracket higher than that of their parents. At the same time, the TCJA creates […]