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/
Is Philanthropy Good for Capitalism?
Is Philanthropy good for capitalism? In 2013 Zoltan J. Acs wrote the book Why Philanthropy matters. It explores the benefits of Philanthropy on the US economy; “…philanthropy as an underappreciated force in capitalism, measures its critical influence on the free-market system, and demonstrates how American philanthropy could serve as a model for the productive reinvestment…
George McGherin of The McGehrin Group
Transcript of George McGherin, of the McGherin Group, interview by Alan Olsen for the American Dreams Show: Alan Olsen: Welcome to today’s show I have with me, George. McGehrin George, welcome, George McGherin: Alan, it’s good to be here. It’s good to catch up with you. Alan Olsen: So, George, you’re a founder of the…
The Flip Transaction: Bringing Your Foreign Startup into the US Investment Market
By Roger Royse, Partner, Haynes Boone, LLP in Palo Alto, CA. The flip transaction, bringing your foreign startup into the US investment market. Non-US startups often arrive at the point where they wish to seek funding from a US venture capital firm or establish a presence in the US. Sophisticated investors tend to prefer to…
Derek Lobo of SVN Rock Advisors
Derek Lobo of SVN Rock Advisors interview transcript, by Alan Olsen for the American Dreams Show: Alan Olsen: Can you give us your background of how you got to where you are today and start with your educational experience and the entrepreneurial model that that you built here? Derek Lobo: Well, you know, I guess…