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Coronavirus Aid, Relief and Economic Security (CARES) Act

VetCPA

The Coronavirus Aid, Relief and Economic Security Act (CARES Act or Act), which includes cash payments to taxpayers, expanded unemployment insurance, increased funding for healthcare providers, small business loans, and tax relief to businesses. The Act is the third bill from Congress in response to the COVID-19 pandemic.

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Coronavirus Aid Relief and Economic Security (CARES) Act for Dentists

DentalAccounting

The Coronavirus Aid, Relief and Economic Security Act (CARES Act or Act), which includes cash payments to taxpayers, expanded unemployment insurance, increased funding for healthcare providers, small business loans, and tax relief to businesses. The Act is the third bill from Congress in response to the COVID-19 pandemic.

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If You’re Hiring Independent Contractors, Make Sure They’re Properly Handled

RogerRossmeisl

The question of whether a worker is an independent contractor or an employee for federal income and employment tax purposes is a complex one. If a worker is an employee, your company must withhold federal income and payroll taxes and pay the employer’s share of FICA taxes on the wages, plus FUTA tax.

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Tax Preparers Rejoice! Here’s How To Prepare SECURE 2.0 Form 8881 Retirement Tax Credit If You Use Gusto & Guideline

Nancy McClelland, LLC

Photo by coco tafoya on Unsplash As my readers and colleagues know, I’m a huge proponent of leveraging technology to remove the drudgery from our jobs and those of our small business clients. Honestly, I randomly stumbled on it when I went into my own Gusto account to run weekly payroll.) We all have enough on our plates already!

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SBA Releases Interim Final Rules Regarding PPP Second Draw Loans

RogerRossmeisl

BACKGROUND CARES Act The CARES Act provided the original legislation authorizing the Small Business Administration (SBA) to make loans to qualified businesses under certain circumstances.

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SBA Re-Opening PPP for All Lenders by 1/19/2021

RogerRossmeisl

Containing extensions and expansions of the PPP, it provides additional funding for what has been a popular provision with many small businesses included in the Coronavirus Aid, Relief and Economic Security (CARES) Act. allowing eligible employers to obtain forgivable loans for certain payroll and non-payroll purposes.

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PPP Loan Tax Consequences

RogerRossmeisl

Taxpayers could apply to have the loans forgiven to the extent their proceeds were used to maintain payroll during the COVID-19 pandemic and to cover certain other expenses. The post PPP Loan Tax Consequences appeared first on Roger Rossmeisl, CPA.

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