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

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 »

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

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)

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)

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 »

Scroll to Top