Blog Archives

PPP Forgiveness for Loans $50,000 or Less

Recipients of Paycheck Protection Program (PPP) loans of $50,000 or less will be able to apply for forgiveness using a simplified application that was released Thursday by Treasury and the U.S. Small Business Administration (SBA). The new application form, SBA

Posted in IRS, Taxes

Payroll Protection Program Loan Forgiveness Changed as Senate passes House bill

The U.S. Senate passed the House version of Paycheck Protection Program (PPP) legislation Wednesday night, tripling the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans.  The Senate

Posted in IRS, Taxes, Tips

CARES (Coronavirus Aid, Relief, and Economic Security) Act

* subject to change Best/accurate info at sba.com or treasury.gov Phase 3, March 27, 2020 $2 Trillion Support loans and loan guarantees for large businesses and governments Small business loans & grants Unemployment insurance expansion Issue one time checks (tax

Posted in IRS, Taxes, Tips

Survive and Thrive COS

Survive & Thrive COS provides funding in the form of low-interest loans of up to $25,000, to support resiliency and continue building healthy businesses and nonprofits.   There are no stipulations for what the money can be used. ELIGIBILITY For profit

Posted in Colorado, Tips

IRS Accepting Email & Digital Signatures

The IRS is now accepting email and digital signatures on tax documents to make it easier for tax professionals and taxpayers to communicate with the agency during the coronavirus pandemic.

Posted in IRS, Taxes

Colorado Income Tax Deadline

Colorado extended the income tax payment deadline for Colorado taxpayers until July 15, 2020 without penalty or interest. It applies to any income tax payment, regardless of the amount.  The state is not imposing any caps on the amount of

Posted in Colorado, Taxes

President Trump moves tax day to July 15

President Trump has moved Tax Day to July 15 giving taxpayers more time to file their taxes in the midst of the coronavirus epidemic.

Posted in IRS, Taxes

New FLSA Requirements Suspended

The new FLSA overtime regulations which were set to increase the exempt salary threshold to $47,476 on December 1, 2016, have been temporarily suspended by Judge Amos L. Mazzant, III. Their implementation has been suspended until their legality can be

Posted in Tips

New FLSA Requirements

New overtime regulations under FLSA will go into effect on December 1, 2016.   The salary floor for FLSA exemptions will be raised to $913 per week or $47,476 annually.  In order to still be considered exempt, employees will need to

Posted in Tips

Wrapping Up A Client Meeting

Posted in Uncategorized