Last week, the Small Business Administration (SBA) announced a new round of Economic Injury Disaster Loan (EIDL) assistance, known as “Supplemental Targeted Advances”. This will make $5 billion in additional grants available to small businesses hit hardest by the COVID-19 pandemic. New Grant Details The new program offers an extra $5,000 that doesn’t need to…
Latest SBA Grant Program Aimed at Helping Small Businesses Read More
Small business owners who aren’t sure if they have time to apply for a PPP loan – should. With the extension of the Paycheck Protection Program (PPP) through the end of May, some small biz owners may be concerned if there’s enough time to do so. Another concern is if there’s enough money in the
Why Now is a Good Time for Small Biz Owners to Apply for a PPP Loan? Read More
By definition, payroll is the function of a business paying its employees. Payroll includes the distribution of currency in the form of checks and/or direct deposits into an employee’s bank account. A vital aspect of payroll also includes keeping records of these payments and paying taxes on behalf of those employees as per the guidelines
What is Payroll and How Does it Work? Read More
As of March 31st, and after years of failed attempts, Governor Cuomo has signed legislation making marijuana legal in New York. It is now legal for adults 21 and over to possess up to three ounces of cannabis for personal use in New York. Adult New Yorkers may smoke or vape cannabis wherever smoking tobacco
How NY’s New Legal Marijuana Law Affects The Workplace Read More
Small businesses now have an additional two months to apply for the Paycheck Protection Program. The March 31st deadline has been pushed to May 31, thanks to the Senate on passing the PPP Extension Act of 2021. Passage of the PPP extension came nearly one week after the House approved the bill. In addition to
PPP Loan Deadline Extended to May 31 Read More
Ask someone what the difference between an accountant and a bookkeeper is, and they may find it difficult to answer. Some would say they’re the same – but that would be incorrect. While bookkeepers and accountants share common tasks and functions, they support businesses in different stages of the financial cycle. Here’s an explanation of
What’s the Difference Between an Accountant and a Bookkeeper? Read More
For the second year in a row, the IRS has decided to postpone the April 15th tax filing deadline. The new date is May 17. Details are forthcoming but the decision to delay the date was called for by many. The agency agreed with The American Institute of CPAs, the National Association of Tax Professionals,
IRS Pushes Tax Deadline Back One Month to May 17 Read More
Since we’re officially in tax season, we thought it would be a good time to cover some of the basics. One of the more common, basic questions is the differences between Gross & Net Pay. Gross Pay Gross pay is a term used to describe your total earned salary before any taxes and other withholdings
Differences Between Gross & Net Pay Read More
The $1.9 trillion stimulus plan called the American Rescue Plan is just one signature away from becoming law –And here’s what you need to know about it. While most Americans were focused on the $1,400 stimulus checks, it’s the extension of the child tax credit in the relief legislation that many are calling a radical
$1.9 Trillion “American Rescue Plan” Passed Read More
Now that the House and Senate officially passed the $1.9 trillion stimulus bill, you may be wondering when will the $1,400 stimulus checks go out. The House plans to pass the amended COVID-19 relief bill Tuesday, with President Biden signing it into law before March 14. After that, the IRS can speed up the process
When Will The Third Round of Stimulus Checks Arrive? Read More
