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/
The Man That Helps People Live their Financial Dreams with Comedy – Charlie Epstein, Host of Yield of Dreams
Introduction (yield of dreams) In this interview, Alan Olsen, CPA, MBA discusses using comedy to help people reach their financial goals with Charlie Epstein, author and principal of Epstein Financial Group, LLC and Epstein Financial Services, a Registered Investment Advisory firm. Transcript: Charlie Epstein My ministry in life is to ease people’s pain and suffering about…
Finding Infinite Freedom with Eric Francom
Introduction (Eric Francom discusses finding infinite freedom) In this interview, Alan Olsen, CPA, MBA discusses teaching business success with Dr. Eric Francom. Dr. Eric Francom is an Angel Investor, wealth mentor, speaker, podcaster, and author. Transcript: Eric Francom A lot of people invest in stocks and bonds and retail products, but they don’t get into the part of…
The Man Bulks Up Owner Managers For Exits – Pete Worrell, Co-CEO & Managing Director of Bigelow LLC
Introduction (helping Owner Managers before an exit) In this interview, Alan Olsen, CPA, MBA discusses what owners can do pre exit with Pete Worrell. Mr. Worrell is Co-CEO & Managing Director of Bigelow LLC. Transcript: Pete Worrell My interest was all about how, owner managers flourish and thrive. And I’ll just give you a teensy bit of…
Journey of a Tech Entrepreneur with Jack Liang, Founder of Coral Global
Introduction (Jack Liang, tech entrepreneur journey) In this interview, Alan Olsen, CPA, MBA discusses the journey of a tech entrepreneur with Jack Liang. Mr. Liang is the, Founder of Coral Global and a renown activist. Transcript: Jack Liang I was running ads since college and one of my ads for my restaurants have like, over 100,000…