President Trump has signed a $900 billion COVID relief bill with wide ranging implications. The stimulus package, which includes $166 billion earmarked for direct checks to individuals, also includes $325 billion reserved for small business relief. For severely hindered businesses, a second round of PPP loans is the focal point
An Individual Retirement Account (or IRA) is an “individual retirement plan” that is funded through personal contributions. IRAs are a great addition to traditional 401(k)s and allow individuals to save for retirement with tax-free growth or on a tax-deferred basis, depending on the type of IRA. Basic Definitions There are
On December 22, 2020, the Office of Management and Budget approved and posted the Compliance Supplement Addendum for COVID-19 programs administered in 2020. This addendum is effective for audits beginning after June 30, 2019. The reason for the addendum is to provide guidance for entities with COVID-19 program expenditures that
On December 15, 2020, Congress introduced two bipartisan COVID-19 relief bills: the COVID-19 Emergency Relief Act of 2020 ($748 billion) and the State and Local Support and Small Business Protection Act of 2020 ($160 billion), that contain payroll-related provisions. Additional benefits to small businesses are included in the COVID-related Tax
The U.S. Congress is scheduled to vote this morning on a $900 billion stimulus package to provide immediate aid to individuals and small businesses continuing to be impacted by the coronavirus pandemic. President Trump is expected to sign the bill today. PPP Forgiven Loans The looming question on whether or
With the holiday season upon us, there’s no better time to express our thanks and sincere appreciation for the client relationships we’ve built and the amazing dedication our team has demonstrated. This year might’ve not been easy, but we look forward to the brighter days ahead with the opportunity to