COVID – 19 Relief Status Update 04.06.20
‘Phase 4’ stimulus wish lists floated
https://newsletters.usdbriefs.com/2020/Tax/TNV/200403_2.html?elqTrackId=6e9dc0831e234fbb852445add1ad3b21&elq=f288114b18834cf9b76e2880f0d7df36&elqaid=69563&elqat=1&elqCampaignId=13246
Two-year suspension of SALT deduction cap clears House
https://newsletters.usdbriefs.com/2019/Tax/TNV/191220_1.html
Governor Newsom Signs Executive Order Providing Relief to California Small Businesses https://www.gov.ca.gov/2020/03/30/governor-newsom-signs-executive-order-providing-relief-to-california-small-businesses/
“Mark Koziel, CPA, CGMA, the AICPA’s executive vice president of firm services, added, “Based upon statements from members of Congress, it appears that the intent of the PPP was to base the salary calculation on gross wages with no adjustment for federal taxes. This ensures that payroll tax expenses are not passed on to the small businesses in need. In a program of this magnitude, it’s expected that guidance will evolve and terms will be clarified.”
https://www.aicpa.org/content/aicpa/press/pressreleases/2020/aicpa-coalition-recommends-ppp-applicants-use-gross-payroll-approach-in-calculations.html?j=269729&sfmc_sub=124900764&l=2078_HTML&u=8847730&mid=7306387&jb=612&utm_medium=email&SubscriberID=124900764&utm_source=NewsUp_A20Mar225&Site=aicpa&LinkID=8847730&utm_campaign=Newsupdate&cid=email:NewsUp_A20Mar225:Newsupdate:o+discuss+the+appropriate+method+for+calculating+Average+Monthly+Salary:aicpa&SendID=269729&utm_content=Special
Dave Ramsey, well-known author and radio financial advisor https://www.daveramsey.com/ (whom I am not endorsing, but I like his “no debt” approach) had a very strong message to listeners:
Paraphrasing: “Don’t take these loans. Don’t believe the government. They will change the rules later.” That seems harsh, but I wanted to pass that thought along.
April 5, 2020: Excellent Forbes article about the confusion in computing the amount of PPP loans:
https://www.forbes.com/sites/anthonynitti/2020/04/05/paycheck-protection-program-loans-three-things-the-sba-and-banks-need-to-agree-on-now/
5 Rules of Building Successful Connections
5 Rules of Building Successful Connections Author: Will Corrente Updated: 6/10/2013 For me, connecting with people and connecting with entrepreneurs is one of the most enjoyable aspects of business and entrepreneurship. As a “Connection Optimizer”, I love brainstorming, making introductions, and pointing out potential synergies between friends, colleagues and fellow entrepreneurs. Like all social…
How To Become Employed With 9.8% Unemployment
How To Become Employed With 9.8% Unemployment 9.8% unemployment is the national average. For many states, it is even higher than 9.8%. I live in California and the number has hit double digits. This is true for many other states as well. Regardless of the rate, anyone actively in a job search knows these are…
Salaries of American Cities To Be Considered Wealthy
What are the salaries required within most American cities to be considered wealthy? We spend a lot of time on this website discussing the nation’s wealthiest individuals. Of course, most people in the United States know who the nation’s top earners are. Names like Warren Buffet, Bill Gates, Paul Allen, and Mark Zuckerberg are very…
The Top 10 Inventions in 2016
The Top 10 Inventions in 2016 Wireless Headphones $159 Wireless headphones have been around for years, but Apple’s new Airpods offer some unique features that make them stand out. You can listen to music, but they also come with microphones so you can control your phone with your voice and they can even detect when…