by Jay Javier | Mar 16, 2021 | COVID-19 Resource Center, Silver Advantage Alerts
President Biden signed the $1.9 trillion American Rescue Plan Act of 2021 (ARP) on March 11, 2021. The ARP provides relief funding to families and individuals, state and local governments, businesses, and tax-exempt organizations. Many of its key tax provisions will...
by Jay Javier | Jan 8, 2021 | COVID-19 Resource Center, Kaplan, Silver Advantage Alerts
On December 27, 2020, the President signed the Consolidated Appropriation Act (Act), which includes legislation offering $900 Billion in COVID-19 Relief. Many of the Act’s provisions were designed to help business owners who are struggling with the effect of the...
by Jay Javier | Dec 23, 2020 | COVID-19 Resource Center, Silver Advantage Alerts
GREAT NEWS! As part of the federal stimulus act that was passed in Congress last night, eligible business expenses paid with forgiven PPP loans are tax-deductible. As we previously discussed, the Treasury guidance had indicated the opposite. This latest legislation...
by Jay Javier | Dec 10, 2020 | COVID-19 Resource Center, Silver Advantage Alerts
By Janell Wilson, CPA – Partner December 10, 2020 On December 9, 2020, legislators released a Framework Summary of the Bipartisan COVID Relief Act of 2020. The framework calls for an additional $300 billion to be released to the Small Business Administration,...
by Jay Javier | Nov 30, 2020 | COVID-19 Resource Center, Hsiao, Silver Advantage Alerts, Tax Planning and Consulting
By John Hsiao, CPA – Partner November 30, 2020 On Novemhhttps://michaelsilver.com/john-hsiao/ttps://michaelsilver.com/john-hsiao/ber 18, 2020, the Internal Revenue Service doubled down on its position that businesses receiving PPP loan forgiveness cannot deduct the...
by Jay Javier | Nov 16, 2020 | COVID-19 Resource Center, https://michaelsilver.com/joshua-prince/, Joshua Prince, Silver Advantage Alerts
By Joshua Prince, CPA, MST – Manager November 16, 2020 The Paycheck Protection Program (PPP), a program that provided small-sized businesses with funds to pay up to 24 weeks of payroll and other nonpayroll business costs, officially closed to new loan...
