by Dana Borys | May 7, 2020 | tax
The IRS announced Notice 2020-32 and clarifies that no deduction is allowed for an expense that is otherwise deductible if the payment of the expense results in forgiveness of a PPP loan pursuant to the CARES Act. The income associated with the forgiveness of the PPP... 
by Dana Borys | Apr 23, 2020 | tax
The California Employment Training Panel (ETP) founded in 1982, provides funding for businesses who enhance the skills of their workforce through employee training. The ETP program is funded by a special payroll tax under the California Unemployment Insurance (UI)... 
by Dana Borys | Apr 13, 2020 | tax
On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law to provide financial and emergency relief to the U.S. economy. The CARES Act contains major changes to the tax code for businesses that should be reviewed and... 
by Dana Borys | Apr 7, 2020 | tax
On March 31, 2020, California Governor Gavin Newsom announced additional relief efforts targeting small businesses by extending a 3-month automatic extension to file returns and pay taxes administered by the California Department of Tax and Fee Administration... 
by Dana Borys | Apr 6, 2020 | tax
On April 3, 2020, California Governor Gavin Newsom announced the ability for small businesses to defer up to $50,000 of Sales and Use Tax liability for up to 12 months without incurring penalties or interest. The announcement provides immediate relief to California...