Author Archives: Cordasco
CARES ACT changes retirement plan and charitable contribution rules
As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of a tax law passed on March … Continue reading
Coronavirus (COVID-19): Tax relief for small businesses
Businesses across the country are being affected by the coronavirus (COVID-19). Fortunately, Congress recently passed a law that provides at least some relief. In a separate development, the IRS has issued guidance allowing taxpayers to defer any amount of federal … Continue reading
The new COVID-19 law provides businesses with more relief
On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Employee retention … Continue reading
Answers to questions about the CARES Act employee retention tax credit
The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to employers, … Continue reading
COVID-19 Update for the Week Ended April 11, 2020
5 Things You Should Know from the Week Ended April 11, 2020 The tax and financial impacts of COVID-19 continue to unfold rapidly. To help keep you up to date on these rapidly evolving changes, we have put together the 5 most important … Continue reading
Look closely at your company’s concentration risks
The word “concentration” is usually associated with a strong ability to pay attention. Business owners are urged to concentrate when attempting to resolve the many challenges facing them. But the word has an alternate meaning in a business context as … Continue reading
Strategies for navigating the COVID-19 finance options and other stimulus provisions
On the night of Thursday, April 2, 2020, just hours before applications were supposed to be received, the Treasury issued regulations on the Paycheck Protection Program (PPP). Ironically titled “interim final rules” which has created significant confusion and left lenders … Continue reading
COVID-19 Resource Center
As the events of the COVID-19 pandemic evolve, we are continuing to adapt to the changing tax landscape and world events. We are continually evolving to ensure that we do what is in the best interest of our clients, staff … Continue reading
Paycheck Protection Program Update
The following is an update of recent developments of the Paycheck Protection Program (PPP) offered through SBA approved lenders. As you are aware, Congress laid out the framework of the new PPP under the CARES Act on March 27, 2020. … Continue reading
Payroll Protection Program & Loan Forgiveness Provisions
The Paycheck Protection Program authorized by the CARES Act makes loans of up to $10 million available to certain qualified small businesses. These loans are intended to be forgivable if the borrower maintains employees and otherwise complies with the CARES Act. Congress … Continue reading