Americans are on a stimulus check spending spree! This comes from data by The Bureau of Economic Analysis, which reported on Friday that personal spending rose 5.6% in June. This followed a surge of 8.5% in May. According to data from the Census Bureau people have predominantly been buying clothing and footwear. So essentially, this means we’re…
How Long Can The U.S. Spending Spree Last? Read More »
Congress returned to Washington after a two-week break. Now, ten days remain before the end of the month and key provisions of the CARES Act set to expire. Furthermore, only three weeks are left before Congress takes its next recess in August. So, if anything gets done, it’ll need to get done fast! 2nd Stimulus
Show Me The Money: The State of a Second Stimulus Check Read More »
In a blog post from earlier this month, we reported a possible second stimulus check. And on Monday, President Trump promised one is indeed, on the way. Forbes reports Trump confirmed a second round of direct payments to Americans that will be included in Congress’ next coronavirus relief package. “We will be doing another stimulus package. It’ll be
A “Generous”, Second Stimulus Check On The Way? Read More »
It’s unlikely that we’d see a second stimulus bill, let alone another stimulus check on the same level or scale of the CARES Act. A Republican-led Senate doesn’t seem keen to approve measures pushed by the Democrat-controlled House to do so. Part of the reason why is that strong showings in economic numbers from May
Another Stimulus Check Coming? Read More »
Thanks to relief provided by the IRS, your corporation’s 2019 federal income tax return (Form 1120) deadline has been extended to 7/15. With that, here are some important tax planning options to consider between now and then. Claim 100% First-Year Bonus Depreciation – or not Businesses can claim 100% of first-year bonus depreciation for qualifying
Why Small Biz Owners May Want to Extend the July 15 Tax Deadline Read More »
If you’re one of the many small business owners who applied for the Paycheck Protection Program, known as the (PPP), you’ll want to know how getting that loan forgiven actually works. In short, borrowers will have their loans forgiven if they use the money for designated expenses. Total payments for payroll over the 6 months after the
How PPP Loan Forgiveness Works & How To Apply Read More »
The Small Business Administration (SBA) issued new guidelines today, making it less likely for the larger companies to access the next round of funding for the small business relief program. The SBA also increased pressure for public companies to give back any money they received. This comes after public outcry of unfair practices that saw
Large Companies Access $365M in Loans Intended for Small Business Read More »
A data breach at the agency tasked to provide financial assistance to small businesses during the COVID-19 pandemic has exposed sensitive data of approximately 8,000 small businesses. As a result, a delay in payouts is expected. The Small Business Administration (SBA), which oversees the Economic Injury Disaster Loan (EIDL) program, has notified applicants of the potential
Small Business Info Exposed in SBA Data Breach Read More »
The White House and Congress have reached a deal for additional funding to replenish the exhausted small business loan program. Since the program launched, small businesses have feverishly applied for the SBA and Paycheck Protection Program (PPP) loans. The details of the package are forthcoming. However, it’s anticipated to include up to $310 billion for
Deal Reached to Replenish Small Biz Loan Program Read More »
Still, waiting on your IRS stimulus check? Well, if you’re getting a payment status “Not Available” error, we have the answer! The task of sending out checks to so many millions of people is a herculean task. One that comes with an unimaginable amount of paperwork! So processing all that data takes and hiccups are
Getting a Payment Status “Not Available Error” Message? Read More »
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