Category Archives for Taxation
PPP Forgiveness Update
PPP Forgiveness Update Webinar Join us Friday November 13th 2pm ESTPPP ForgivenessAs the early PPP covered periods come to an end the SBA and banks are preparing to process forgiveness applications.
Continue readingOhio Small Business Relief Grant
Ohio Small Business Relief GrantApplications open November 2, 2020 Dewine makes $125,000,00 available to businesseshttps://governor.ohio.gov/wps/portal/gov/governor/media/news-and-media/cares-act-funding-announcement-10232020 Visit
Continue readingDeductibility of expenses paid with PPP loan proceeds
SBA update on deductibility of expenses paid withPPP loan proceeds Click to Learn More
Continue readingSimplified PPP Forgiveness 10/09/2020
Simplified Forgiveness for PPP loansunder $50,000! Click to Learn More
Continue readingRMDs Suspended for 2020
The CARES Act signed into law earlier this year waives all required minimum distributions (RMDs) for 2020.What if you already took your annual RMD? The IRS has granted a rare tax time machine to un-do
Continue readingPPP forgiveness update
Mnuchin suggests forgiving smaller PPP loans without verification
Continue readingPPP Auto Forgiveness on the table.
The Paycheck Protection Small Business Forgiveness Act is currently in the Senate. The ACT would forgive PPP loans of $150,000 or less based on the borrower submitting a one page attestation to the
Continue readingEnd of PPP loan applications extended to August 8.
With only hours to spare on June 30th Congress extended the PPP application deadline to August 8. Both the House and Senate unanimously passed the legislation which will now go to the President of signature.Forbes
Continue readingThe IRS is on your side!
For once.In a stunning turn of events the IRS is allowing any RMD taken thus far in 2020 to be "rolled-over" into a qualified plan or IRA by August 31, 2020.The one rollover per year - suspendedRMDs suspended
Continue readingSenate passes Paycheck Protection Flexibility 06/03/2020
Senate passes keyPaycheck Protection Flexibility ActJune 3rd, 2020.With nearly unanimous support the Senate passed the Paycheck Protection Flexibility Act. The legislation will now go to the President
Continue readingPaycheck Protection Plan Webinar Series
PPP Webinar Series 10:30am WednesdaysHow to effectively track and monitor PPP loan proceeds for maximum forgiveness. Including Legislation and Regulation update.SBA PPP Loans have been and are being fundedAn
Continue readingWhat to do with erroneous stimulus payment
Receive an erroneous Economic Impact Stimulus Payment?The IRS has begun sending checks and making direct deposits of the economic impact stimulus payments authorized by Congress in April 2020.The problem
Continue readingTracking PPP Loan Proceeds
Track the use of your PPP Loan ProceedsThe PPP loan planning and tracking spreadsheet mentioned in last week's webinar is available. The registration page is located here: https://www.financialclaritygroup.com/ppptracking/If
Continue readingPaycheck Protection Plan Webinar Series
PPP Webinar Series begins:12:00pm EST April 22, 2020How to effectively track and monitor PPP loan proceeds, legislation and regulation update.SBA PPP Loans are being funded. How will you document
Continue readingMax Unemployment Benefits by state
Resource for determining the maximum amount of unemployment benefit to which you may be eligible.Ohio weekly max is $480 for an individual and up to $647 with dependents.Link to chart
Continue reading