This H2R CPA webinar was presented live on May 8, 2020. The webinar recording can be accessed here. A PDF of the webinar presentation can be accessed here. Webinar Summary As a business owner, you may have already started the process of selling your business or you may have considered taking your company to market in … Read more
This H2R CPA webinar was presented live on May 7, 2020. The webinar recording can be accessed here. A PDF of the webinar presentation can be accessed here. Webinar Summary The clock is ticking for those businesses lucky enough to have received a Paycheck Protection Program (PPP) loan. You have 8 weeks to use 75% of … Read more
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 employees, it can be an expensive mistake. The question of whether a worker is an … Read more
Congress and the Trump administration have struck a deal on another piece of legislation, the latest in a series of federal measures intended to provide relief in response to the novel coronavirus (COVID-19) pandemic. The $484 billion legislation, which is being referred to as the Interim Stimulus Plan, amends the Coronavirus Aid, Relief and Economic … Read more
Many people’s estates typically include IRAs. Be aware that two major laws passed into law recently, the Setting Every Community Up for Retirement Enhancement (SECURE) Act and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, have had a direct effect on IRAs. In a nutshell, the CARES Act waives required minimum distribution (RMD) rules … Read more
“The Federal Reserve has announced that it is establishing a Main Street Lending Program (Program) to support lending to small and medium-sized businesses that were in good financial standing before the onset of the COVID-19 pandemic.” Read More
The novel coronavirus (COVID-19) pandemic and the resulting economic fallout is dealing a crushing blow to charitable organizations. Indeed, during a time when food banks, disaster relief and other nonprofit services are needed most by the public, their funding is suffering due to cancelled fundraising events and other factors. If philanthropy is an important part … Read more
The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for many improvements to interior parts of nonresidential buildings. This is referred to as qualified improvement property (QIP). You may recall that under the Tax Cuts and Jobs Act (TCJA), any QIP placed in service after December … Read more
“You can now apply for PUA, expanded eligibility for individuals who have traditionally been ineligible for unemployment benefits (e.g. self-employed workers, independent contractors, gig workers).” Read More
Generally, it’s recommended that you review your estate plan at year’s end. It’s a good time to check whether any life events have taken place in the past 12 months or so that affect your plan. However, with a life shock as monumental as the coronavirus (COVID-19) pandemic, now is a good time to review … Read more