The Paycheck Protection Program (PPP) is moving into the forgiveness stage for most business owners. While there still aren’t any hard and fast rules on applying for PPP forgiveness, there are a few areas where we can offer some insight. Here’s an overview of some of the guidance and advice I’ve been giving my clients on how to navigate the PPP loan forgiveness process.
If you’re a business owner with more than $500,000 of excess business losses, the recently-passed Coronavirus Aid, Relief, and Economic Security Act (CARES) Act includes an unexpected tax giveaway you’ll want to know about.
Subscribe to our blog, and we'll send articles straight to your inbox when they're published.
Given how so much in the world has changed in the last few months, we’ve been producing a lot of content for business owners that answers the question “What’s next for my business?” We know that the top can be a lonely place, and many business owners crave insights from other owners on how they deal with the same difficult challenges. In the spirit of sharing, this article is for business owners who are curious to know how other leaders are dealing with the pandemic. I decided to chat with David Goldner, who just finished his tenure as Gross Mendelsohn’s managing partner, to hear first-hand what he has learned as a business owner as he navigates his way through the COVID-19 crisis.
Effective July 1, 2020, employees who work in the District of Columbia more than 50% of the time and whose wages are subject to DC unemployment tax are eligible for paid family leave.
The application period for the Paycheck Protection Program closed on August 8, 2020. Learn more about how to get your PPP loan forgiven here. The application period for the Paycheck Protection Program (PPP) has been extended until August 8, 2020. This gives businesses additional time to claim the remaining $130 billion in PPP loan funds that are still available.
If you took a required minimum distribution (RMD) from your retirement account in 2020, you now have until August 31, 2020 to return the money without incurring any tax consequences. This new guidance was issued by the IRS on June 23 and corrects previous legislation that excluded retirees who took RMDs prior to the passing of the CARES Act in March.