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/
David Reiling on Redefining Social Responsibility In The Financial Industry
Recently, on Alan Olsen’s American Dreams show, David and Alan talked about redefining social responsibility in the financial industry. See David’s Recent Interview with Alan Olsen: https://www.youtube.com/watch?v=ztdtPfH9RAk&t=2s David’s background David Reiling is an accomplished social entrepreneur and innovator in the field of community development finance and financial inclusion. He has been the Chief Executive Officer…
Banking Reimagined As A Social Entrepreneur
Introduction, in this interview, Alan Olsen, CPA, MBA discusses banking as a social entrepreneur with David Reiling, CEO, Sunrise Banks. Transcript (software generated) Alan Olsen Welcome to American Dreams. My guest this week is David Reiling. David, welcome to today’s show. David Reiling Thanks, Alan. Great to be here. Alan Olsen So David,…
NBA All-Star Weekend Economic Influence
Written by Ryan Hickman. If you have walked around downtown Salt Lake City recently, you’d come across ginormous signs advertising the NBA. But not just advertisements for the local Utah Jazz, but for the annual pinnacle of NBA events: the 2023 All-Star Game. This annual event envelopes whichever city hosts the events, which include a…
Richard Rossi, Founder of daVinci50: The Man Behind The Amazing Age Reversal Revolution
Watch Richard Rossi’s recent interview with Alan Olsen about age reversal at: https://groco.com/featured-guests/mastering-age-reversal/ Richard Rossi is a revolutionary figure in the field of age reversal, with his company daVinci50 leading the way in exploring new treatments to combat aging. His research into stem cells and gene therapy has opened up exciting possibilities for reversing the…