The COVID-19 pandemic has changed the world and had an enormous financial impact, on both small and large businesses across the U.S. Financial experts agree, year-end tax planning is especially critical this year, as the disruption of the virus has led to a number of important issues with tax implications. There are a number of[…]
Relief may be available for those struggling to pay monthly bills
By diamondcpas Personal Taxes Aug 19, 2020
Millions of Americans are still struggling to meet their monthly bills, as the COVID-19 pandemic continues to wreak havoc on the economy. While the CARES Act, signed in March, provided some relief, many of its provisions have expired. Although it’s unclear whether some of the law’s supports, such as eviction protection, forbidding utility shutoffs and[…]
PPP Flexibility Act – Congress Passes Changes to PPP Loan Forgiveness
By diamondcpas Business Accounting Jun 04, 2020
The PPP Flexibility Act passed both the House and the Senate Wednesday and is expected to be signed by the President Thursday. The Act provides additional relief to business that may not have qualified for full forgiveness under the current law. Here is a summary of the changes to PPP loan forgiveness. Extension of 2-year repayment period to 5 years. PPP loans[…]