The young have always taught their older counterparts, and it’s no different in the business world, where start-ups have much to offer more senior companies. Today’s most successful companies are growing nearly three times faster than in the past. In order to succeed at this rate, both employees and business leaders have to be adaptable[…]
FMLA Update – IRS announces expansion and extension of family/sick leave credits
By diamondcpas Personal Taxes Jun 23, 2021
Rather than create a new mandate for paid sick and family leave, the American Rescue Plan Act of 2021 expanded the availability of payroll tax credits for covered employers who voluntarily choose to continue offering the Families First Coronavirus Response Act (FFCRA) – style paid sick and paid family leave. Paid family and sick leave[…]
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[…]
The global COVID-19 pandemic has not only killed hundreds of thousands of individuals and sickened countless others, it has also spawned a host of scams, with criminals hoping to capitalize on people’s fears and the uncertain economic times. The Internal Revenue Service is cautioning taxpayers to be alert to fraud attempts and other financial scams[…]
As business owners prepare for reopening amid ongoing concerns about COVID-19, a careful consideration of risks is critical, as are prevention practices. Among the many factors business leaders must examine to protect their employees, colleagues, and, in some cases, the public, is following the Centers for Disease Control and Prevention guidelines. Experts in the field[…]
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[…]
The $2 trillion federal stimulus package is intended to help American families and businesses, both large and small, as they struggle to survive economically during the COVID-19 pandemic that has already killed tens of thousands around the world. The legislation is the largest economic rescue in modern American history and will impact millions of people[…]