Federal

Can your business benefit from the Employee Retention Tax Credit?

COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit, which was extended and enhanced in the latest law. Background on Employee Retention Tax Credit  The CARES Act, enacted in March of 2020, created the Employee Retention […]

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New CAA provides favorable tax breaks for businesses

The COVID-19 relief bill, known as the Consolidated Appropriations Act of 2021 (CAA), signed into law on December 27, 2020, contains numerous favorable tax breaks for businesses. Here are some highlights of the new law, which also includes several other provisions. Business meal deduction increased  The CAA includes a provision that removes the 50% limit […]

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PPP2 Details and Application Process

    The new $900 billion stimulus bill, the Consolidated Appropriations Act, provides a variety of financial stimulus measures, including $284 billion for a second round of Paycheck Protection Program loans (PPP2) to an expanded group of businesses facing difficulties during COVID-19. Here are details about who qualifies for PPP2 and the application process as […]

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Deadline to expend Ohio CRF Extended and Other Stimulus Bill News

Some good news as we approach the end of 2020.  President Trump signed the $900 billion pandemic relief bill into law on December 27, 2020.   Following is a summary of the healthcare provisions affecting our clients. Deadline to expend Ohio CRF Extended The stimulus bill gives providers an additional year to expend Ohio Coronavirus Funds […]

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Congress Passes $900 Billion COVID Relief Bill

The U.S. Senate and House of Representatives passed a $900 billion COVID-19 relief bill 12/21, that provides $600 stimulus payments to individuals, adds $300 to extended weekly unemployment benefits, and provides more than $300 billion in aid for small businesses. The bill now goes to President Trump, who is expected to sign it into law. The […]

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