Tax Warrior Chronicles

PPP Update #8 – What if I Can’t Rehire My Employees? Should I Keep My PPP Money? Can I Get More PPP Money?

Posted on Thu, May 14, 2020

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: Updates#1, #2#3#4#5#6#7,#8,#9,#10, #11, #12,#13,#14, #15

 

What if I Can’t Hire My Employees Back?

Given the generous unemployment provisions of the CARES Act, many businesses that obtained PPP loans are having difficulty rehiring employees that may now be collecting more on unemployment than their normal wages.  This puts PPP loan recipients in a precarious position, as a business must maintain its workforce through the eight-week, post-loan period to receive full PPP forgiveness.

 

Fortunately, FAQ #40

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Need Liquidity? The Paycheck Protection Program Loan Under the CARES Act Can Help

Posted on Tue, Mar 31, 2020

As guidance in this area is being released regularly, we recommend you read all of our blogs on this subject.  All the blogs in the Paycheck Protection Program series are here: Updates#1, #2#3#4#5#6#7,#8,#9,#10, #11, #12,#13,#14, #15

 

To assist small businesses through the coronavirus-related economic slowdown, the recently enacted Coronavirus Aid, Relief and Economic Security Act (CARES Act) provides emergency assistance through a significant expansion of the Small Business Administration Section 7(a) loan program.  The program is structured to incentivize employers to retain and pay their employees.  We will refer to these loans as Paycheck Protection Loans (PPL).  As you will

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Good News for Small Businesses Under ObamaCare

Posted on Wed, Mar 08, 2017

By: Michael Donahue, CPA, MT, CFP

 

The Affordable Care Act (“the ACA”) has been operational for some time now.  During its life, the ACA has been subjected to praise and criticism in addition to numerous legislative calls for repeal.

 

At its core, the ACA requires individuals to obtain health insurance, claim an exemption or pay a penalty.  Additionally, applicable large employers (employers employing at least 50 employees) are required to provide affordable health insurance with minimal essential benefits to its employees.  The pillar of the ACA has been the healthcare exchange which provides health insurance to individuals with premium subsidy support from the federal government.

 

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Who's Footing the Bill for the 2013 Tax Law Changes? It Could Be You!

Posted on Thu, May 09, 2013

 

If you have been following our postings, you are well aware of the American Taxpayer Relief Act of 2012. In our previous blog, 2012 American Taxpayer Relief Act – Individual Income Tax Highlights, we identified many tax changes affecting individuals.

 

In this post, we will examine how these changes will impact salaried employees in 2013. Our 2012 and 2013 analysis will show exactly what is driving your tax increases in 2013 and how severe the cash flow crunch may be next April 15th.

 

For individual wage earners there will be four key changes increasing their taxes in 2013:

 

  1. The maximum individual tax rate on taxable incomes over $450,000 for joint filers and surviving spouses;
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