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Blog Month: March 2021

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Important “to do” item before filing Q1 Form 941

Businesses and organizations that have suffered a decline in gross receipts may qualify for an employee retention credit (ERC). Recent legislation has extended the ERC through Q4 2021. For 2021,
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Important PPP, EIDL, and SVOG Updates

PPP Extension Passed in the Senate This afternoon, the Senate passed the bill to extend the time to apply for a PPP first or second draw loan to May 31st.
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New law March 2021: Parents and other eligible Americans to receive direct payments

The American Rescue Plan Act, signed into law on March 11, 2021, hopes to provide a variety of tax and financial relief to Americans to help mitigate the effects of
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Estimated tax payments: When you are required to make them

Normally April 15 is the deadline for filing your individual tax return  (except for 2020 taxes that are now due on May 15, 2021), it’s also the deadline for the
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Are you retiring soon? Recent law changes may have an impact on your retirement savings!

Are you approaching retirement? If you are, then you will probably want to ensure that the money you have saved in retirement plans lasts for as long as it possibly
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SBA Provides Preliminary Application Checklist for Shuttered Venue Operator Grant (SVOG) Program

On March 5th, the SBA released a Preliminary Application Checklist that walks through documents needed once the application portal opens.  This list is a working document and may change as
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How to Apply for the Employee Retention Credit and get a Refund for Your Business

Did you have payroll expenses last year? Will you have payroll expenses first or second quarter of 2021? Was your company struggling during the pandemic and is it continuing to
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Employee Retention Credit

The IRS recently came out with Notice 2021-20 providing guidance on the employee retention credit. This guidance is specific to 2020, but the concepts can also be applied to 2021.
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Shuttered Venue Operator Grants – Important Considerations

The Shuttered Venue Operator Grant (SVOG) program was established as part of the Economic Aid Act signed into law on December 27th, 2020.  The program was allocated $15 billion in
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PPP Updates and Considerations

On February 22nd, the Biden administration announced that PPP loans would be made exclusively available to employers with less than 20 employees beginning February 24th through Tuesday, March 9th.  This