Employee Retention Credit

  Another program that was part of the $2 trillion CARES act is the Employee Retention Credit for Employers Subject to Closure due to COVID-19 Crisis.  This program is designed for small employers, but is not available to businesses who have received a Paycheck...

Paycheck Protection Program

As you probably know, the Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed on March 27, 2020.  The $2 trillion package includes $349 billion for a loan program called the Paycheck Protection Program (PPP). This is an unprecedented program both in...

Who needs a 1099?

Let’s start by explaining what it is. A 1099 is an informational return that is used to tell the IRS who paid whom, and how much they were paid. If XYZ Corporation hires Joe the Independent Landscaper to mow the company golf course, then the IRS wants to know...