by hoodlawkc | Tax Planning, Business Law, Business Planning, Tax Law
Almost no one would argue that American families are struggling to make ends meet during the COVID-19 pandemic. Nevertheless, the White House and its allies have repeatedly pointed to rallying stock prices as evidence of a “V” shaped economic recovery, a rally which...
by hoodlawkc | Business Planning, Business Law, Tax Law, Tax Planning
Loan Forgiveness Generally When the Coronavirus Aid, Relief, and Economic Stimulus (“CARES”) Act was signed into law on March 27, 2020, it created the Paycheck Protection Program (“PPP”). The PPP provided loans to businesses that were facing financial uncertainty due...
by hoodlawkc | Tax Planning, Business Planning
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law March 27, 2020 provides for sweeping relief to families and businesses affected by the Global COVID-19 pandemic. Among its many provisions are modifications and expansions to the...
by hoodlawkc | Tax Planning, Business Planning
Coronavirus Relief Bill Provides Loans to Help Your Small Business Pay its Employees and Keep the Lights On, and You May Not Have to Pay it Back On Wednesday, March 25th the United States Senate voted 96-0 to pass the 880-page Coronavirus Aid, Relief, and Economic...
by hoodlawkc | Tax Planning, Business Planning
Tax deductions are a matter of legislative grace, and failure to comply with substantiation requirements can have dire consequences. One family in El Paso discovered this harsh reality after an audit of their 2012 and 2013 taxes. Mrs. Baca is a W-2 employee of a bank...
by hoodlawkc | Business Planning, Tax Planning
Earlier this month we outlined the new Section 199A of the Tax Cut and Jobs Act, which provides a 20% deduction to certain pass-through businesses. Today we take a closer look at the asset and wage limitations that restrict the deduction for high-earners. While “high...
