President Biden has released his proposed budget for the federal government for the 2024 fiscal year. The budget, which aims to cut the deficit by nearly $3 trillion over 10 years, includes numerous
117th Congress Rushes to Pass a $1.7 Trillion Omnibus Spending Package before it ends January 3, 2023: What’s Included?
Just before funding for the federal government was set to expire on December 23, 2022, Congress passed—and President Biden is poised to sign—the Consolidated Appropriations Act of 2023. The nearly
State Taxes Impact Business Sales, Too
For a business owner to successfully negotiate the sale of a business, it is critical to understand the tax implications. Armed with this knowledge, you can assess the impact of
Worker Classification is Still Important
Over the last year, many companies have experienced “workforce fluctuations.” If your business has engaged independent contractors to address staffing needs, be careful that these workers are properly classified for
New Law Extends Opportunity for Businesses to Claim Employee Retention Credit
The Consolidated Appropriations Act of 2021, signed into law in December 2020, modified some of the CARES Act provisions, including expanding Employee Retention Tax Credit (ERTC) eligibility and extending the
PPP Loan Audits: What You Need to Know
Many small business owners received forgivable loans as part of the CARES Act Paycheck Protection Program (PPP). If you received a PPP loan, you may be audited by the SBA
Tax Alert: Payroll Tax Deferral Began Sept 1
The U.S. Department of Treasury and Internal Revenue Service (IRS) issued official guidance for taxpayers on the “payroll tax holiday” ordered by President Donald Trump in early August as part
Payroll Tax Deferral Starts Today – Employer Can Elect In or Out
On August 28, 2020, the Department of Treasury and Internal Revenue Service (IRS) issued official guidance for taxpayers on the payroll tax deferral ordered by President Donald Trump on August
PPP Loan Flexibility & Maximizing Forgiveness
The Paycheck Protection Program Flexibility Act recently became law to provide additional flexibility on the use of Paycheck Protection Program (PPP) funds and make it easier for businesses to qualify
Paycheck Protection Program Analysis Tool
RJI CPAs has developed a tool to simplify the application process when applying for a Paycheck Protection Program loan. The tool includes the total amount for which you qualify and
The CARES Act and What it Means to You
The $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on Friday, March 27, 2020. The Act aims to provide economic relief through a multitude
SBA Offers Low-Interest Loans to CA Businesses Impacted by COVID-19
The U.S. Small Business Administration announced on March 16th that they are offering low-interest federal disaster loans for working capital to California small businesses suffering substantial economic injury as a
