Amber Goering, Partner, Author at GG Advisors LLC

Small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA). Knowing what to expect before starting the loan process will help prevent unnecessary errors and rework. Completing the application process quickly and accurately will be key as there will be high demand and processing times will likely increase. We’ve put together the following summary of what business owners can expect when applying for an SBA loan.

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One of the many key provisions in the CARES Act is the Employee Retention Credit. This credit is geared toward employers subject to partial or full COVID-19-related closures. This credit impacts compensation, furlough and layoff strategies. If you are considering making workforce reductions, it is important to understand your options under the CARES Act.

On March 27 President Trump signed the latest COVID-19 relief bill: Coronavirus Aid, Relief, and Economic Security (CARES) Act. For funding dedicated to taxpayers and businesses, the bill currently includes provisions related to taxes, unemployment, small business loans, and a large business lending program.

In an effort to help consolidate the various pieces of legislation and important information from the Department of Labor (DOL), we’ve created a list of the most frequently asked questions regarding unemployment insurance benefits, the Family and Medical Leave Act (FMLA), and the changes made by the FFCRA and the Fair Labor Standards Act (FLSA).

It was announced on March 20 that Tax Day would be postponed from April 15 to July 15 to coincide with the delayed tax payment deadline at the direction of President Trump. Treasury Secretary Steven Mnuchin announced the postponement via Twitter, stating that all taxpayers and businesses will have until July 15 to file and make payments without interest or penalties. We know you have lots of questions. Below is a summary of the 10 most common questions and the IRS’s response.

Congress passed and President Trump signed the Families First Coronavirus Response Act (FCCRA) on March 18, 2020; it will become law 15 days after the signing. The bill provides paid sick leave, free coronavirus testing, expansion of food assistance and unemployment benefits, and requires employers to provide additional protections for health care workers.

This guide serves as a checklist to help ensure your business meets your compliance responsibilities for 2019.

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This guide offers several opportunities for tax savings for businesses before year-end 2019.

This year brought numerous changes to the tax preparation and planning process for both individuals and businesses. Consider the following before filing your 2019 taxes:

Recent tax reform requires you to make changes to your company’s accounting. The Tax Cuts and Jobs Act (TCJA) that was passed in December 2017 and takes effect this year has created more headlines that you can count. You’ve probably heard about reduced tax rates, an increase in the standard deduction and possibly even a qualified business income deduction for pass-through entities.

Amber Goering, Partner, Author at GG Advisors LLC - Page 10 of 10

Tips and considerations for small businesses applying for an SBA disaster loan

Summary of the Employee Retention Tax Credit Provision of the CARES Act

CARES Act Overview: The impact to taxpayers and businesses

Employer COVID-19 Resource Guide: What you need to know about changes to FMLA, unemployment, layoffs and paid leave

The Top 10 Questions about the Tax Deadline Extension

President Trump signs Families First Coronavirus Response Act

2019 Business Reporting Reminders Guide

2019 Business Tax Planning Guide

Five Things You Need to Know About Taxes in 2019

Separate Meal and Entertainment Expenses in Your Business Records