Changes to the Paycheck Protection Program (PPP) were signed into law June 5th.  Included among these were the following: The original covered period for using the funds was expanded from eight weeks to 24 weeks, and the percentage of funds used for payroll costs was reduced from 75% to 60%. This was great news for…

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by Megan Hicks and Christopher Shaker for RSM The Coronavirus Aid, Relief and Economic Security (CARES) Act signed into law on Friday provides various options for small and midsize businesses facing liquidity challenges from the COVID-19 crisis. Three options are available: Option one The Coronavirus Preparedness and Response Supplemental Appropriations Act enacted on March 6…

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New Tax Legislation

Last week, congress passed new tax legislation. Among the important provisions, some of the taxpayers effected by this legislation include: those who itemize for medical and dental expenses, or mortgage insurance premiums; have tuition & fees deductions; investors in empowerment zones; solar, business and non-business energy efficient property purchasers; employers providing Family and Medical Leave;…

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