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COVID-19

Stories tagged as "COVID-19"

Understanding Deferring Employee Payroll Taxes

Jan 21, 2021, 11:00 AM

The IRS recently released new guidance about how employers who deferred payroll for their employees can withhold and pay those taxes throughout 2021, instead of within the first four months of the year.

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More PPP Guidance Released

Jan 20, 2021, 3:37 AM

There’s more government guidance for businesses considering applying for their first or second round of Paycheck Protection Program loans.

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For Farmers and Ranchers, New PPP Loan Calculations

Jan 18, 2021, 5:23 AM

The new Economic Aid Act changes how Payroll Protection Program loans are calculated for farmers and ranchers. Previously, the government calculated PPP loan amounts using net farm income. Under the new law, ag producers should use gross farm income.

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SBA Issues Guidance on the Second Round of PPP

Jan 11, 2021, 6:35 AM

The Small Business Administration’s interim final rules regarding the latest round of the Paycheck Protection Program answered some key questions. For businesses that want to apply for their first or second PPP loan, the application process is now open.

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New Changes to the Families First Coronavirus Response Act

Jan 8, 2021, 4:04 AM

The recently passed Consolidated Appropriations Act made some changes to the Families First Coronavirus Response Act. The new act doesn’t require businesses to provide pay leave, and it didn’t extend the paid leave maximums.

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What’s New in the Second Round of PPP

Dec 30, 2020, 12:43 PM

The latest round of COVID-19 relief funding provides $284 billion for another round of the Paycheck Protection Program — often referred to as PPP2. The SBA is expected to issue new guidance within 10 days of the enactment of the new act. In the meantime, here are some differences between PPP and PPP2.

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Is a Donor-Advised Fund Right for Your Charitable Investing Goals?

Dec 28, 2020, 6:37 AM

With a donor-advised fund, you’ve got a tool that you can solely use to support the charities and nonprofits that matter the most to you. DAFs make you eligible for an immediate tax deduction if you donate cash, stocks, or non-publicly traded assets — like private business interests, cryptocurrency, and private company stock.

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What the Latest Round of COVID-19 Federal Relief Funding Means for You and Your Business

Dec 22, 2020, 5:12 AM

Business owners can now write off expenses they used forgiven PPP loans to pay for. There's also more money for PPP2 and EIDL grants, in addition to another round of stimulus payments.

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PPP: While Congress Tries to Reach an Agreement, New Data Causing Concerns

Dec 18, 2020, 9:27 AM

If PPP2 passes, it'll be aimed at borrowers who exhausted the first round of funding. It also expands expenses that can be forgiven. Borrowers may need to be ready to move quickly if the bill passes.

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‘Qualified Disaster Relief Payments’ a Good Gift for Employees Affected by COVID-19

Dec 15, 2020, 6:08 AM

With the holidays fast approaching, many employers want to help their employees who’ve been hit hardest by COVID-19. And there might be a tax-free option for them to do so.

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