You have probably seen a lot of information on the CARES Act. This short post is only meant to summarize the most important aspects of the Paycheck Protection Program Loans (PPPL) and the Economic Injury Disaster Loan (EIDL) programs. Both loans feature the possibility of forgiveness. Paycheck Protection Program Loans (PPPL) Employee Count: 500 or […]
Are you accounting in the cloud?
Is your accounting system in the cloud? Operating in today’s uncertain environment would be much easier if your accounting was cloud-based. There are a number of secure options to allow your company to operate efficiently and allow your staff to work remotely and maintain productivity. Here are a few examples of cloud-based applications that you […]
Synopsis of COVID-19 Tax Relief and H.R. 6201
As of Saturday morning, 21 March 2020, this is a synopsis of where we are with certain tax issues as they related to COVID-19 as well as some specifics of the Emergency Paid Sick Leave Act. This is not meant to be a comprehensive discussion of the nuances of each government action. If you have […]
2019 Tax Payments Delayed and Comfort Offered
2019 Tax Payments Delayed U.S. Treasury Secretary Steven Mnuchin held a press conference yesterday, 17 March 2020, and announced that individuals and corporations can delay tax payments due with their 2019 tax returns for 90 days to infuse cash into the economy during these challenging times. Individuals can defer up to $1 million, corporations can […]
Why Business Structure Matters
This information is pretty elementary, but it is a good introduction to some of the similarities and differences in legal entities used in business. If you’re thinking of going into business or changing your structure, please contact Woodford Financial for help. When you start a business, there are endless decisions to make. Among the most […]
Contractor or Employee? The Rules for Classifying Workers
Contractor or employee? The difference matters – a lot. Be sure you’re using the correct classifications for your staff. Employees. Contractors. They both create and support products or provide services for your customers. They’re your company’s most valuable assets. But the IRS looks at each very differently. And when you hire people and start dealing […]