There’s no doubt about it—2020 was a weird year. And between the fallout of the pandemic and a new administration, we have plenty to update you on. Here’s what’s going on. Skip Ahead:
New PPP Updates, California’s Small Business Grant & More
Today we’re covering a topic that is top of mind for most small business owners: the new stimulus bill signed into law last week. We’re going to discuss what it means for you and your business and cover important deadlines to meet for grants and loan forgiveness. Let’s dive in. You can skip ahead: […]
Prepare For California Tax Changes in 2021
With an incoming Administration in the White House and new Congress taking place soon – tax changes are inevitable. Here is our quick guide to help prepare for the changes to come in early 2021. You can skip ahead: New California Hiring Tax Credit What is CalSavers? PPP Tax Deductions Update How Proposition 19 Will […]
Assembly Bill No. 5 & Why You Should Care
What is AB-5? On September 18, 2019, California Governor, Gavin Newsom, signed Assembly Bill No. 5 (AB-5), which went into effect as of January 1, 2020, setting a new standard for determining whether workers should be classified as employees or as independent contractors. AB-5 has caused a lot of confusion and disruption to the small […]
Issues with Stimulus Payments – What You Need to Know
On April 15, 2020, the IRS opened a Direct Deposit Portal on their website to provide status updates on the Economic Stimulus Payment for taxpayers. By clicking here, you will be able to: Enter your bank information for direct deposit if you have not previously requested direct deposit on a return. Confirm the payment type: […]
Which One Should I Apply For- PPP or EIDL?
In an effort to combat the negative impact COVID-19 has on small businesses, the CARES Act is offering low interest rate loan programs for working capital, two of which are very popular. The first one is the Paycheck Protection Program (PPP). The second one is the Economic Injury Disastrous Loan (EIDL). Let us unpack these […]