UPDATE – Saturday, April 25th, 2020 After several weeks of intense debate, the newest coronavirus bill – the 4th one to pass to date – passed both the Senate and House in landslide votes. The new bill provides $484 billion of additional funding to support businesses and essential services that are quickly running out of […]
Passed nearly two weeks ago, the CARES Act will provide many employees, individuals, and small business owners economic relief. Most of the money in the $2.2 trillion bill is projected to fund hospitals’ nationwide efforts to mitigate COVID-19 pandemic. However, $350 billion of the CARES Act was allocated specifically for small business owners. This will […]
The novel coronavirus pandemic has changed everything. Conditions are changing from day to day, and business owners don’t know if they’ll have customers or if they’ll even be allowed to operate from one week to the next. In this time of uncertainty, many businesses are at risk of having to fold or let employees go. […]
The CARES Act is intended to provide critical support to the many small businesses that form the core of our economy and employ so many individuals. This ambitious package includes so many different measures that it can be frustrating trying to determine what in the new coronavirus legislation is most important for you and your business. […]
As the crisis around the novel coronavirus upturns everyday life across the United States, the federal government has responded. In addition to the ongoing stream of economic relief packages like the CARES Act, IRS is delaying the regular April 15th income tax deadline for another three months. The filing and payment deadline has been extended […]
After days of tense Congressional debate, several alternative versions, and a contested vote over a previous package, Congress has agreed on and passed an enormous new emergency economic relief bill. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on Friday, March 27. The bill includes over two trillion dollars in […]
The Families First Coronavirus Response Act is one of several acts passed in response to the COVID-19 crisis but the first bill to directly address the economic crisis and the challenges faced by individual taxpayers and businesses. While the first legislative response focused on emergency preparation and measures in response to the coronavirus, the new […]
While hiding one’s head in the sand can feel better than actually dealing with the problem of tax debt, it needs to be dealt with sooner rather than later. Especially if a taxpayer has plans to travel, needs to travel for work, or would like to be able to travel internationally at will. A serious […]
With the Tax Cuts and Jobs Act of 2017, President Trump revamped the tax code in major ways, creating attractive tax cuts for virtually all businesses and for many American taxpayers. But if recent history is any indication, Joe Biden might know a thing or two of his own about how to save on taxes. […]
If you’re an Uber or Lyft driver, you may know that your taxes are changing in some pretty dramatic ways. The Tax Cuts and Jobs Act of 2017 ushered in a number of tax savings, as well as a few limitations that aren’t so beneficial to your tax situation. You should consider these changes when […]
