Paycheck protection flexibility act
The Senate just approved the Paycheck Protection Program Flexibility Act. The Bill, which was passed by the House on May 28th, will ease many of the restrictions on how businesses must use PPP funds in order to have their loan forgiven. In addition to extending the deadline to apply for a PPP loan from June 30th […]
Deductibility of business expenses paid for with PPP funds
Congress created the Paycheck Protection Program (PPP), to provide liquidity to small businesses dealing with the effects of the economic shutdown. It was clear from the language in the CARES Act that loans used for covered expenses would not be included in a business’ gross income. However, the Bill was silent on the deductibility of […]
Assessing market volatility
In the last quarter of 2018, the market was down 20% from previous highs and we had many clients reaching out concerned about declines and high volatility. But when we examined the market’s movements, we found the volatility to be higher than normal but far from extraordinary. Recently, we have gotten similar questions from clients […]
Rebalancing – why buy stocks now?
Rebalancing the allocation among risky assets in your investment portfolio is an important discipline. It provides a structured way to maintain consistent risk exposure over time and forces us to “buy low and sell high” when it is not always the comfortable thing to do. This quarter is a good example, in the midst of […]
CARES Act overview
With much of the country in self-isolation, perhaps you’ve got time to read the entire H.R. 748 Coronavirus Aid, Relief, and Economic Security Act, or CARES Act. If you’d prefer, here is a summary of many of the key provisions we expect to be discussing with you in person (virtually), depending on which ones apply […]
CARES Act – paycheck protection program
The CARES Act establishes a new loan program through the Small Business Association (SBA), to aide small businesses who have had to lay off employees, and or, suspend their operations. To be eligible for a loan under this section an entity must have less than 500 employees, which includes full time and part-time workers. Eligible […]
CARES Act – SBA overview
In response to the COVID-19 pandemic, Congress has passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This legislation is the third round of federal funding aimed at providing economic support for individuals and businesses. Below are some of the key provisions relating to small businesses and companies. Paycheck Protection Program (PPP) – […]
CARES Act – individuals (detailed)
Recovery Rebates for Individuals: One the most talked about provisions of the CARES Act is the Recovery Rebates for Individuals. The Act creates a refundable tax credit (called the Recovery Rebate) for eligible taxpayers against income on your 2020 tax return. The refundable credit will be paid in the coming weeks, and eligibility will be […]
CARES Act – individuals
In response to the COVID-19 pandemic, Congress has passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This legislation is the third round of federal funding aimed at providing economic support for individuals and businesses. Below are some of the key provisions relating to individuals. Recovery Rebate for Individuals – This widely anticipated […]
Important tax updates – 2019/2020
Federal IRS Tax Payments: On March 20th, in response to the ongoing COVID-19 pandemic, the IRS released Notice 2020-18, which postpones the Federal filing and payment deadline from April 15, 2020, to July 15, 2020. This relief applies to all individual returns, trusts, and corporations. This relief is automatic, taxpayers do not need to file […]
