Second Draw Loans

PPP Second Draw Loans

Loan applications through the Payroll Protection Program will soon be available to all small businesses. If you or your business received a PPP Loan during the first round and could use additional aid, you may qualify for a second round of funding. Abedian + Totlian has received guidelines from our bank on PPP Second Draw…

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New Year, New Stimulus

After months of partisan haggling and threats of a presidential veto, a new $900 billion Covid-19 relief package has been passed to help bring much-needed aid to American families and small businesses.   The new stimulus bill includes: -Payments up to $600 (potentially $2,000 pending a vote in the senate) per person for individuals earning…

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Handling COVID-19 From a Financial Point of View (Video)

Emil Abedian speaks with Gudrun Giddings, President of SACC-LA, about how to handle the COVID-19 pandemic from a financial point of view. Learn about how tax regulations have shifted and new loans that have been issued to ease this economically stressed situation. Also, how the new regulations will affect you and how to benefit from…

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Coronavirus Sick Leave Requirements

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…

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IRS Confirms July 15 Tax Deadline

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,…

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Tax Filing Deadlines Postponed

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…

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COVID-19 & Your Taxes

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…

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Does AB5 Affect Your Business?

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…

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