In the July issue of Word to the Wise, we provide an important alert: you may owe a tax payment this month. Specific situations include paychecks that are under-withheld, unemployment compensation paychecks are under-withheld, self-employed workers, retirees, if you recently sold a major asset or if you receive alimony. To read the entire issue, please: […]
For the past few months, most business loan conversations focused on the Paycheck Protection Program established due to the COVID-19 pandemic. On Monday, the Federal Reserve Bank of Boston opened lender registration for the Main Street Lending Program. While there are similarities between the programs, Main Street was created to help credit flow to medium-sized […]
Last night, the Senate passed the Paycheck Protection Program Flexibility Act of 2020 which is designed to loosen the restrictions placed on the original Paycheck Protection Program (PPP). This added legislation provides two major changes. The first relates to extending the original eight-week period of the PPP to 24 weeks that business owners have to […]
In the June issue of Word to the Wise, we include tips on how to be prepared for pandemic tax surprises. Some items to be alert for included a tax bill for unemployment benefits or reporting emergency distributions from a retirement account. Speaking of retirement accounts, think twice before you use your 401K as an […]
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We are ending the week on a better note than last. The House passed the Paycheck Protection Program and Health Care Enhancement Act, and President Trump signed the bill earlier today which will add $484B to help small businesses, hospitals and first responders, as well as increase nationwide testing for coronavirus. With news that States are reopening businesses, and […]
There is a lot of information and misinformation on social media and other outlets regarding loan forgiveness within the CARES Act. There still are many questions that need answers. The President signed H.R.748, The CARES Act, on March 27th. As stated in §1106 Loan Forgiveness, Item (k) Regulations.—Not later than 30 days after the date […]
Good news for the construction industry in Pennsylvania. All public and private residential and non-residential construction projects throughout the state may resume beginning May 8, 2020. Construction will be permitted as authorized by the Governor’s and Secretary of Health’s April 20, 2020, amendments to their business closure orders. Strict compliance orders with impending guidance are […]
News, ideas, and advice to keep you informed and ahead of the curve.
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