- Businesses Score Big Tax Benefits with the CARES Act
- As part of the stimulus package to help offset the financial damage inflicted on businesses as a result of the COVID-19 crisis, Congress restored the ability of businesses that suffer a loss to carry those losses back and recover taxes paid in prior years. The limitation on business interest deductions has also been relaxed, as has the business loss limitation for larger businesses. The legislative package also made a long-awaited beneficial retroactive correction to treatment of qualified improvement property. These changes allow affected taxpayers to recover taxes paid in earlier years, thus providing badly needed cash during these trying times.
- Don't Fall Prey to This New Scam Targeting CFOs and Bookkeepers
- CEO fraud is becoming more and more common, and poor processes could make you a victim. Learn how to protect your business here.
- The IRS Provides Online Tools for Recovery Rebates
- The IRS has a free, and easy-to-use online tool that enables those who don’t normally file a tax return (non-filers), or have too little income to file, to register for Economic Impact Payments (aka recovery rebates or stimulus payments) so they can receive their payments faster.
- Video: A Paycheck Protection Loan Might be a Good COVID-19 Emergency Funding Option
- If you have 500 or fewer employees, you may qualify for an SBA Paycheck Protection Loan.
- 'Main Street' Loan Program to Support Small to Medium-Sized Businesses
- The Federal Reserve is starting a Main Street Lending Program to support SMBs through the COVID-19 pandemic.
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