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 – Proposition 15 Raises Property Taxes!
Amid an unprecedented economic crisis, special interests are pushing Prop 15 on the November 2020 statewide ballot to begin the process of eroding Propositions 13’s property tax protections. This is
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
You Have Received Your PPP Loan, Now What?
More than 4 million small businesses have applied for and received their Paycheck Protection Program (PPP) loan. The next logical question is: How do you account for it? There has
What does the Executive Action Deferring Payroll Taxes Mean for Employers and Employees?
On August 8, 2020, President Trump signed an executive memorandum that defers an employee’s portion of Social Security and Medicare taxes from September 1 through December 31, 2020. At this
Retroactive California Tax Hike Proposed by Legislature
Democrats in the California state legislature have proposed a significant tax hike on taxable income of $1 million and higher. Legislators say the tax hike would raise more than $6
PPP Loan Extension Gives Small Businesses 5 More Weeks
President Trump signed a bill into law on July 4, 2020 that extends the Paycheck Protection Program (PPP) deadline for five more weeks until August 8. The original deadline to
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
