UPDATE REGARDING THE PAYCHECK PROTECTION PROGRAM ROUND 2 (PPP2) (DECEMBER 26, 2020)

News, Tax Legislation / By /

December 26, 2020 Congress finally passed the new Covid-19 relief bill earlier this week.  Although the President has not signed it, the Payroll Protection Program (“PPP”) provisions of the bill are not expected to change.   It includes a new round of Payroll loans (PPP), or PPP2 as it’s being called.  PPP2 contains many similarities to the …

UPDATE REGARDING THE PAYCHECK PROTECTION PROGRAM ROUND 2 (PPP2) (DECEMBER 26, 2020) Read More »

NEVADA PANDEMIC EMERGENCY TECHNICAL SUPPORT (PETS) GRANT APPLICATIONS START OCTOBER 19

News / By /

October 13, 2020 FYI – The state is offering another Covid business grant program–up to $10,000 – called the Pandemic Emergency Technical Support (PETS) Grant (link below).  Applications start Oct 19: “The PETS grant is intended to assist businesses and organizations during the COVID-19 health crisis – especially those establishments such as bars, pubs, taverns, …

NEVADA PANDEMIC EMERGENCY TECHNICAL SUPPORT (PETS) GRANT APPLICATIONS START OCTOBER 19 Read More »

LAS VEGAS COMMERICAL RENTAL ASSISTANCE PROGRAM -EXTENDED THRU 9/8/20

News, Tax Legislation / By /

FYI – the state extended the application deadline through Sept 8 for up to 10k of rental assistance to small businesses (less than 50 employees) who can verify a loss of at least 30% in revenue since the previous year (see the link below for details).  They removed the requirement that you couldn’t have received …

LAS VEGAS COMMERICAL RENTAL ASSISTANCE PROGRAM -EXTENDED THRU 9/8/20 Read More »

TRUMP EXECUTIVE ACTION-PAYROLL TAX DEFERRALS (AUG. 31, 2020)

News, Tax Legislation / By /

Dear Clients and Friends, The President’s recent executive action called for a payroll tax deferral for employees effective Sept 1 through year end.  Employers would stop withholding the 6.2% FICA (aka social security) portion on employee paychecks.  To get the deferral, employees must earn less than $4,000 every two weeks (equates to $104,000 annual salary). …

TRUMP EXECUTIVE ACTION-PAYROLL TAX DEFERRALS (AUG. 31, 2020) Read More »

NEW PAYROLL TAX DEFERRAL & PPP LOAN FORGIVENESS UPDATE (AUGUST 15, 2020)

News, Tax Legislation / By /

Dear Clients and Friends, I’d like to keep you informed about a few hot-topic tax developments that have occurred in the past week:    New Employee Payroll Tax Deferral Scheme On August 8, 2020, President Trump signed an executive order deferring payroll tax obligations of employees.  But what the heck does it really mean?  Like many …

NEW PAYROLL TAX DEFERRAL & PPP LOAN FORGIVENESS UPDATE (AUGUST 15, 2020) Read More »

SBA EIDL (ECONOMIC INJURY DISASTER LOANS) ARE BAAAACK!! A SMALL BUSINESS LIFELINE (JUNE 18, 2020)

News / By /

Dear Clients and Friends, FYI – SBA (Small Business Administration) has resumed accepting new EIDL (Economic Injury Disaster Loan) applications on a first-come, first-served basis.  SBA had halted new submissions on April 15 due to high demand.  On Monday, June 15, SBA began begin accepting new EIDL loan and EIDL Advance applications from qualified small businesses.  …

SBA EIDL (ECONOMIC INJURY DISASTER LOANS) ARE BAAAACK!! A SMALL BUSINESS LIFELINE (JUNE 18, 2020) Read More »

UPDATE: UNEMPLOYMENT BENEFITS FOR SELF EMPLOYED & CARES ACT RELIEF (May 15, 2020)

News / By /

May 15, 2020 Dear Clients and Friends, The new $3 trillion coronavirus relief bill titled The Heroes Act is expected to pass the House of Representatives today.  However, it’s fate will be determined in the Senate.  The Act is expected to ultimately pass but with significant modifications.  It includes funding for additional economic Impact/stimulus payments, …

UPDATE: UNEMPLOYMENT BENEFITS FOR SELF EMPLOYED & CARES ACT RELIEF (May 15, 2020) Read More »

UPDATE: SMALL BUSINESS PPP & SBA EIDL (April 22, 2020)

News / By /

April 22, 2020 Dear Clients and Friends, The Senate on Tuesday approved additional funding of $310 billion to replenish the Paycheck Protection Program (PPP), which provides forgivable loans to certain types of businesses struggling as a result of the pandemic. It is expected to be passed by the House Thursday and signed by the President.  …

UPDATE: SMALL BUSINESS PPP & SBA EIDL (April 22, 2020) Read More »

Scroll to Top