If you were one of the businesses that were fortunate enough to get approved for and receive funds through the Paycheck Protection Program, or are hoping to apply in the future, how much of your loan is forgiven is based on a number of factors. While we expect further guidance on PPP loan forgiveness, here…
Business owners are rapidly adjusting to the changing economic climate and navigating new operational challenges in response to the coronavirus. With so much happening so quickly, it’s hard to look forward and see what things will look like when we come out of this. Now is the time to safeguard your business and discover where…
The Paycheck Protection Program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provides relief for small business and their employees who are affected by the coronavirus. The Paycheck Protection Program is administered by the Small Business Administration (SBA) under its lending program, to provide small business loans on favorable terms…
The federal government signed the Families First Coronavirus Response Act (FFCRA) into law Mar. 18, 2020, which includes paid sick leave for employees that need to take time off to limit the spread of the coronavirus. Under this law, employees will qualify for paid sick leave if they have the virus, if they are caring for a…
The Internal Revenue Service has confirmed that the federal income tax filing deadline is automatically extended from April 15, 2020 to July 15, 2020. Taxpayers can also defer federal income tax payments due April 15, 2020 to July 15, 2020 without interest or penalties, regardless of the amount owed. This deferment applies to all taxpayers,…
FTB Deadlines The California Franchise Tax Board (FTB) is postponing the tax filing deadline to July 15, 2020. This includes: 2019 tax returns 2019 tax return payments 2020 1st and 2nd quarter estimated payments 2020 LLC taxes and fees 2020 Non-wage withholding payments FTB is extending this relief to all California taxpayers, there is no…
It’s easy to get caught up in the enormity of Covid-19, but take a breath and remember that we will get through this. With so many businesses feeling unsettled about the coming months, we have compiled some helps to get you and your business through this difficult time. IRS Extension The IRS and Treasury Department…
Preparations we’ve made to keep you and our staff safe during tax season and the coronavirus COVID-19 spread We sincerely hope that you and your family are healthy and happy and will not be directly impacted by the highly contagious coronavirus during this flu season. In our office, we have taken serious precautions to fight…
As many have heard, on September 18, 2019, Governor Newsom signed AB5, effective January 1, 2020. The new law codifies the “ABC test” from the California Supreme Court decision in Dynamex Operations West, Inc. v. Superior Court of Los Angeles, 4 Cal. 5th 903 (2018). Under the ABC test, any person providing labor or services…
The difficulty of getting year-end business tasks done will depend on how organized you’ve been throughout the year. Whether you’re a DIY business owner and handling things yourself, or if you have a bookkeeper/accountant, there are some tasks you’ll need to get done to button up 2019. While the government requires much of the work,…
