New Updates: PPP Loan Forgiveness, Part 2
To Our Valued Clients and Friends: Welcome to Part II of our updates on Paycheck Protection Program (PPP) loan forgiveness. Last week, we discussed changes made to which expenses were designated “eligible covered expenses,” both for businesses generally and for self-employed business proprietors who file Schedule C with their individual income tax returns. This week, […]
New Updates: PPP Loan Forgiveness, Part 1
To Our Valued Clients and Friends: Over the past year, we’ve talked a lot about loans from the U.S. Small Business Administration (SBA) under the Paycheck Protection Program (PPP), enacted as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES), signed into law on March 26, 2020. These loans have been and are […]
Remote Life
To Our Valued Clients and Friends: One significant change for all of us this past year has been the explosion of remote work. Some of you may have already been doing this, even if just part-time, but I’d bet many of us have done a great deal more during the pandemic. And I think that, […]
New SBA Guidance Changes PPP Rules for Schedule C Filers
To Our Valued Clients and Friends: On Wednesday, March 3, 2021, the United States Small Business Administration (SBA) released a new Interim Final Rule (IFR) governing Paycheck Protection Program (PPP) loans for self-employed persons who file a Schedule C with their individual income tax returns. Such self-employed individuals now may use gross income, from either […]
SBA to Administer New Grant Program for Shuttered Venue Operators
Many businesses suffered significant losses due to the COVID-19 pandemic; some have been unable to generate revenue at all. As of December 27, 2020, the U.S. Small Business Administration (SBA) established a grant program designed to help small businesses either stay in business or return to operations. This program has allocated $15 billion in grants […]
Learn Better – the Feynman Way
As most of you know, I am committed to a philosophy of life-long learning. It’s exercise for the brain – learning keeps the mind active, supple, and growing, and the benefits spread throughout all aspects of life. A friend recommended I check out The Feynman Learning Technique; first, I checked out Feynman – was he […]
IRS Extends 2020 Filing, Tax Payment Deadline to May 17, 2021
On Wednesday, March 17, 2021, the Internal Revenue Service (IRS) announced they would extend the deadline to file an individual income tax return and pay any taxes owed from April 15 to May 17 of this year. This announcement followed calls from legislators and accountants for a delay, as taxpayers struggle with the effects of […]
2021 – Why You Should Plan for Your Estate This Year
Today, we are talking estate planning. When your labors have borne abundant fruit, it’s natural to want to hold on to it as long as you can. It’s equally natural to want to provide for your family. The two impulses, sometimes in conflict, can lead to a reluctance to take the steps to plan ahead. […]
Anger: Don’t Run Your Motor on Bad Fuel
Seneca wrote, “There is no more stupefying thing than anger, nothing more bent on its own strength. If successful, none more arrogant, if foiled, none more insane—since it’s not driven back by weariness even in defeat, when fortune removes its adversary it turns its teeth on itself.” As a person of Irish descent, I know […]
Progress on COVID-19 Relief
The U.S. Senate is expected to begin deliberations on the version of The American Rescue Plan Act of 2021 which was passed by the U.S. House of Representatives last Saturday, February 17, 2021, as early as today, Wednesday, March 3, 2021. Up to 20 hours of debate and votes on significant amendments are expected (the […]