Don't Miss Your PPP Loan Forgiveness Deadline!

Posted by MKW, LLC on August 30, 2021

Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration (SBA) approved nearly 12 million PPP loans, averaging $67,000.

The PPP program stopped accepting loan applications on May 31, 2021. However, you still may need to complete the requisite forms to ensure that your loan will be forgiven. You can't afford to miss the deadlines for filing this paperwork.

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Tags: Accounting, PPP, CPA, Deadline, PPP Forgiveness

11 Steps to Reduce Your Chances of Cyber Attacks

Posted by Craig Wilson on August 23, 2021

A man registers online for a fantasy football league, unaware of a shock ahead.

The site requires him to create a user ID and password, so he uses the one he always uses: his email address for his user ID and his birth date followed by his initials (lower-case) for his password. After registering, he logs in, pays the registration fee with a credit card, and starts playing.

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Tags: Book review, Accounting, Cyber Attacks, CPA, Cyber Attack, Internet, Internet Security, Cyber Security

Consider Using Advance CTC Payments to Start a College Fund

Posted by Collene Torres on August 16, 2021

If you're eligible for advance child tax credit (CTC) payments provided by the American Rescue Plan Act, you might wonder if you should spend the extra cash. Some families are incurring extra child-care costs so the parents can return to work. But others don't have any imminent child-care-related expenditures to cover.

Rather than spend the money on a trip to Disneyland or new smartphones, you might want to invest in your child's future by starting or contributing to a tax-favored Section 529 college savings plan. Here's what you should know:

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Tags: Accounting, COVID, CTC, Section 529, College Fund, American Rescue Plan Act

California AB-150: Small Business Relief Act

Posted by Rex Ours on August 09, 2021

On July 16, 2021, California’s governor signed Assembly Bill 150 (AB 150). Among other things, this bill includes the “Small Business Relief Act”, which allows taxpayers to receive a credit for their share of state and local tax (SALT) deducted from the net income on their federal returns for their qualified business(es). This elective tax payment will be available from January 1, 2021 through January 1, 2026.

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Tags: Accounting, COVID, IRS, California State Tax, Small business relief act, federal tax, Income tax

Want Information About Child Tax Credit Payments?

Posted by George Chahinian on August 04, 2021

About the Child Tax Credit (CTC) and advance payments

Taxpayers are allowed a CTC for each qualifying child. The credit was temporarily expanded and made refundable for 2021 by the American Rescue Plan Act (ARPA). It phases out for taxpayers with adjusted gross incomes (AGIs) over certain thresholds.

Eligible families will receive up to $300 per month for each child under age 6 and up to $250 per month for each child age 6 and older.

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Tags: Accounting, COVID, Child Tax Credit, CTC, IRS

The Federal Employee Retention Credit (ERC) & How it Can Help Bring You Out of a Cash Flow Slump

Posted by George Chahinian on July 12, 2021

Has the Government-mandated Covid shutdown brought your cash flow to a halt? Have you been able to operate, but still haven’t been able to get your revenues up to the level they were at before all the lockdown madness of 2020?  Here's a brief overview of how the federal Employee Retention Credit (ERC) can get you up to $33,000 (per employee) in refundable federal tax credits through the end of 2021.

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Tags: Accounting, COVID, Employment Tax, business, cash flow, Employee Retention Credit, payroll, ERC

Hit the Ground Running: 7 Steps for New Business Owners

Posted by Robert Hicks on April 01, 2021

Running a new business can be a daunting endeavor. As soon as you form a business, you'll face many important decisions, ranging from mundane to critical. While much of what you must learn comes through trial and error, other lessons can be learned by observing what other business owners have experienced. Here are seven tips to help you hit the ground running.


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Tags: Accounting, cloud accounting, business, cash flow

2020 - 1099 Forms: What You Need to Know

Posted by George Chahinian on January 26, 2021

Did you know that there have been changes to the 1099 Forms starting in 2020? Fortunately, these are changes that shouldn’t be difficult to deal with.


Starting for the 2020 filing year, the IRS has introduced the 1099-NEC Form, which is to be used to report Non-Employee compensation, previously recorded on line 7 of the 1099-MISC Form. Currently, the definition of non-employee compensation refers to payments to individuals not on payroll, but rather on a contract basis to complete a project or assignment.

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Tags: Employment Tax, 1099-Misc, 1099, Taxes, 1099-NEC, IRS Form, 2020 IRS Form 1099

Award Year-End Bonuses the Right Way

Posted by Robert Hicks on December 17, 2020

This has been a rough year for many businesses in a broad range of industries - perhaps including your company.  As the New Year beckons, you might want to reward employees who rose to 2020's considerable challenges and outperformed.  One approach is to reward loyal workers with year-end bonuses.

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Tags: employee benefit program, year-end bonuses, employee incentives, reward employees, bonuses, morale-building

Make Sales Support Organization-Wide

Posted by Rex Ours on November 19, 2020

For a robust bottom line, teach all staff members in your company how and why customers make purchases. The better your employees work with customers, the brighter your profit picture will likely be. This article shows you four key areas to include in a training program. Part of this process means having veteran sales people work with newcomers to help them learn.

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Tags: staff training, cross training, sales, sales support, training, productivity, sales opportunities