Category Archives: Business
Do You Know What the Paycheck Protection Program is?
The Paycheck Protection Program was enacted as a part of the CARES ACT which was signed into law almost simultaneously as the US (and the world in general) came to a screeching halt in March 2020. The program provides loans … Continue reading
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The Economic Injury Disaster Loans (EIDL) and Loan Advances have received a limited amount of additional funding.
Today President Trump signed into law the PPP and Health Care Enhancement Act. This same Act allocated limited funds to the EIDL advance and loan program. For those who applied during round 1 the EIDL emergency advance was the program … Continue reading
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PPP loan applications starting on Monday, April 27 at 10:30 AM
Statement from SBA and Treasury: “The Small Business Administration will resume accepting PPP loan applications on Monday, April 27 at 10:30AM EDT from approved lenders on behalf of any eligible borrower. This will ensure that SBA has properly coded the … Continue reading
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5 DECISIONS TO MAKE WHEN STARTING A BUSINESS
Have a Business Plan a) Business plans are used for financing. b) They provide a yardstick against which future performance will be measured. c) They provide a framework for decision making and coordination of business. d) They define the business … Continue reading
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Supreme Court Decision and Sales Tax
In June 2018 Supreme Court effectively reversed a previous ruling (Quill v. North Dakota, 1992) which prohibited states from requiring on-line retailers, with no physical presence in the state, from collecting and remitting sales tax. The decision in South Dakota … Continue reading
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Wayfair decision could impact your business
Nexus describes the amount and degree of a taxpayer’s connection with a state before the taxpayer becomes subject to the state’s taxing jurisdiction. If a taxpayer has established sales and use tax nexus, the state will require the taxpayer to register, collect and remit sales and use taxes on sales made to purchasers in that state. Continue reading
2019 New Mileage Rates
It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses, except members of the Armed Forces … Continue reading
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401(k) contribution limit increases to $19,000 for 2019; IRA limit increases to $6,000
The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000. The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute … Continue reading
Small Business and the Burden of Health Insurance Costs
Feeling the pain of health insurance costs as a small business owner. Link below is an article I was quoted in recently about the burden health insurance costs have had on small business. Of course the entire interview was much … Continue reading
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Top 3 Reasons Small Businesses are prone to Cyber Security and Employee Theft and why any small business should care.
Many small businesses do not think they are vulnerable to cyber crime and employee theft (sometimes the 2 go hand in hand). Below are some of the reasons for compliancy and the attitude “it can’t happen to me”: My business … Continue reading
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