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/
Seven Qualities of a Good Leader
Seven Qualities of a Good Leader By Barbara White How often have you heard the comment, “He or she is a born leader?” There are certain characteristics found in some people that seem to naturally put them in a position where they’re looked up to as a leader. Whether in fact a person is born…
How Leaders Can Take Charge of Change
By Jennifer J. Salopek It’s easy to just say people “resist change.” The reality is that you can create an environment where a change initiative won’t encounter harsh skepticism. TechnologyOur firm may be introducing Web-based training, a knowledge-management system. Whatever the flavor of the month, new technology can create real resistance in your workforce —…
Making Changes the Right Way
Making Changes the Right Way By Randa A. Wilbur Is Your Organization Ready? Here are some questions to determine if your company or non-profit is ready for a large-scale change initiative: Have the folks at the top bought off on it? Are senior managers willing to continually convey the change message? Are they willing to…
10 Tips to Enhancing Your Leadership Skills
10 Tips to Enhancing Your Leadership Skills Have you ever heard someone say, “Actually, I have to admit that I think I am really bad at managing other people. My staff all hate me and I’m incapable of doing my job”. The answer is no, of course. No one says this either because they don’t…