Posts Tagged ‘Jennifer Eubanks’
For Individuals: New COVID-19 Federal Assistance – CARES Act
Summary of Keypoints Overview of the CARES Act for individuals: The CARES Act, enacted on March 27, 2020, provides economic relief aimed at helping individuals and families manage the financial effects of the COVID-19 pandemic, with provisions summarized as guidance available at the time. Retirement plan relief: Individuals may take coronavirus-related retirement plan distributions of…
Read MoreFor Small Businesses: New COVID-19 Federal Assistance – CARES Act
Summary of Keypoints Overview of CARES Act relief for small businesses: The CARES Act, enacted March 27, 2020, provides payroll, rent, and cash-flow relief for small businesses, including loan forgiveness for eligible expenses and the option to defer employer Social Security tax payments over two years. Paycheck Protection Program (PPP) and loan forgiveness: The Act…
Read MoreFairfax County Help For Businesses due to Covid-19
Summary of Keypoints Overview of Fairfax County business assistance: Fairfax County provides COVID-19-related relief measures aimed at supporting local businesses impacted by the pandemic. Tax deadline extensions: Fairfax County extended deadlines for certain local taxes, including car (business personal property) taxes and real estate taxes, to help ease short-term cash flow pressures for businesses. Purpose…
Read MoreBusiness Tax provisions
Summary of Keypoints Employee Retention payroll tax credit: Employers may claim a refundable payroll tax credit equal to 50% of qualified wages, up to $10,000 per employee, if business operations were disrupted by COVID-19 shutdowns or gross receipts declined by at least 50% compared to the same quarter in the prior year, with different wage…
Read MoreLatino Economic Development Corp – Tax Planning and Reporting for Small Business
Summary of Keypoints Event overview: A tax planning and reporting presentation for small businesses hosted by the Latino Economic Development Corp on March 19, 2020. Presenters: The session was led by Jennifer Eubanks, with participation from Rod Johnson of the U.S. Small Business Administration. Primary focus: The presentation addressed tax planning and reporting considerations relevant…
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