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SBA Defers EIDL Payments Until 2022

Small businesses that received a COVID-19 Economic Injury Disaster Loan (EIDL) won’t have to start making payments on the loan until 2022. The SBA announced extended deferment periods for all of its disaster loans, including the COVID-19 EIDL loans. The

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Restaurant Revitalization Fund Closed

The U.S. Small Business Administration (SBA) announced the closure of the Restaurant Revitalization Fund (RRF) after awarding the program to more than 100,000 restaurants, bars, and other businesses that provide on-site food and drink. Demand for the funds far outstripped

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Cash Basis of Accounting

The cash method is the simplest and most common  for small businesses to use. With the method, the business reports income in the tax year is is actually received and deducts expenses in the tax year that they are actually paid

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Vacation, Holiday, and Overtime Pay

Holidays This may come as a surprise, but federal law does not require employers to pay employees extra, or above normal pay, for working on a holiday.  The holidays are typically considered regular workdays and employees receive their normal pay

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Wrapping Up A Client Meeting

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