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/
Heeten Doshi – The New Age of Investing
What is it like to start a business from scratch. Heeten Doshi describes his experience with learning the ins and outs of business as he started his Hedge Fund. Listen as he tells how the market works and how hedge funds play into it. Interview Transcript, Heeten Doshi – The New Age of Investing: …
Elliot Omanson – Deploying Success
Have you ever been confused with what career path you should take? Elliot Omanson know exactly what that was like. From one career to another until he became the CEO of OWLFI (a financial advisory institution). Listen as he describes his success path. Interview Transcript, Elliot Omanson – Deploying Success: Alan Olsen: Welcome to today’s…
Three Ways to Avoid Tax Audits, Expanded
Top three (of 10) ways to avoid a tax audit. From our series of the top 10 ways to avoid a tax audit, we thought we would go into greater detail about the first three tips. More to follow… We’ll explain how our list was created and expand upon each suggestion. The list was created…
Tino Go on how Baru is Disrupting Manufacturing
The Amazon for manufacturing has finally arrived! Tino Go, the CEO and Founder of Baru, tells his story and vision of creating AI machines which can execute the designs of your imagination. The Sky is no longer the limit anymore! Listen to how he has created a world class team and is changing the manufacturing…