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Biden Signed the COVID-19 Relief
Today March 11, 2021 President Joe Biden signed the $1.9 Trillion Stimulus Bill that will provide the Payment Protection Program (PPP) an additional $7.25 billion and the Economic Injury Disaster Loan (EIDL) an additional $15 billion to fund shortfalls for the $10k grant.
President Joe Biden signed the bill a day earlier than we expected. Essential components of the Bill include:
Newly eligible entities may receive PPP Second Draw, if they have suffered at least a 25% revenue loss and employ only 300 employees or fewer; also expands the eligibility to additional non-profits organizations listed in Section 501(c).
Questions about the COVID-19 Relief Stimulus Bill? Our Financial Experts are online and ready to assist you, schedule a time here:
Is your CPA saving you money in tax payments this year?
Hiring a CFO will bring more benefits than a CPA. Almost all the clients we helped already have a bookkeeper, accountant, or CPA.
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End of Year Small Business Checklist
The end of the year is a great time to review your small business financial checklist and make sure that you are ready for the upcoming year.
Santa’s Tax Savings Success Business Model
Today’s business owners are facing serious challenges that allow their business to grow. Learn from Santa’s Tax Savings Success Business.
High Interest Rate on Commercial Loans
Commercial loans are great because you can fund your business; be on the lookout for high interest rates when you apply for a commercial loan.
How Rising Inflation May Lead to Higher Tax Bills
Inflation has been rising over the past year. Taxes haven’t increased as quickly as inflation, but now it’s possible to pay more in taxes than you used to; this is because the IRS calculates taxes based on income and inflation.
2021 Tax Law Proposals Timeline
The Biden administration has introduced a series of tax proposals as part of the Build Back Better initiative to pay for new government programs such as education and infrastructure.
Bipartisan Infrastructure Bill
House has agreed to a motion to concur in the amendments made by the Senate to the Bipartisan Infrastructure Bill.
Senate Democrats Float “Billionaires Tax”
A billionaires tax on unrealized appreciation has floated to make up for the billions of dollars in new revenue that would be raised by tax increase.
Build Back Better Act (Draft Released)
Build Back Better Act has been launched includes approximately 1.75 trillion dollars to combat climate change, extend health care and ease child poverty.
Capital Gains, a Retroactive Timeline
With the new tax hikes proposal developed this week in Washington, there are notable changes coming to your capital gains and dividend income taxing.