As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as…
If you have a life insurance policy, you probably want to make sure that the life insurance benefits your family will receive after your death won’t be included in your estate. That way, the benefits won’t be subject to the…
President Trump has signed the latest relief bill totaling $484 billion into law. The intent of the bill is to replenish two depleted small business-relief programs, offer additional assistance to hospitals and fund an expansion of testing capacity nationwide. The…
At long last, Congress passed legislation to correct a drafting error related to real estate qualified improvement property (QIP). The correction is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law on March 27,…
Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.…
With many businesses transitioning their employees to working remotely, it’s more important than ever to ensure your organization has the proper security measures in place and that you train your employees on recognizing security threats. Here are some tips to…
You aren’t alone. Many questions still exist surrounding the regulations and required calculations of the Families First Coronavirus Response Act (FFCRA) which was signed into law by President Trump on March 18, 2020. The IRS recently released a lengthy FAQ…
The $349 billion in funding available in the initial Paycheck Protection Program was exhausted after just 14 days. So what's next? If you submitted your application but haven't received approval or have yet to submit, we advise you to: Continue…
The coronavirus (COVID-19) pandemic has shut down many sectors of the U.S. economy, causing widespread job losses. Over 10 million Americans applied for unemployment benefits in March, according to the U.S. Department of Labor. And far more claims are expected in…
As you may have seen in the news headlines today, the funds available to employers through the Economic Injury Disaster and Paycheck Protection loan programs have been depleted. The Small Business Administration (SBA) has posted the following notice on its…