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Home|Victor Garrido, CPA, EA

About Victor Garrido, CPA, EA

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So far Victor Garrido, CPA, EA has created 313 blog entries.
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Update to Final Interim Rule PPP – More changes expected

On May 22, 2020, the SBA released an update on the Final Interim rule with additional changes, with some limitations on the owner compensation to around $15,400 or 8/52 of the 2019 compensation as well as changes to other items. SBA final Interim - https://www.sba.gov/sites/default/files/2020-05/IFR%20Forgivenss%20FINAL.pdf Forbes article - https://www.forbes.com/sites/alangassman/2020/05/23/may-22-ppp-final-interim-rules-provide-further-guidance-and-some-surprises/#7c60df343f12 Note that this week, there might be a

By |2025-01-12T17:21:50+00:00May 26th, 2020|Categories: Business|Tags: , , , , |
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Everything about PPP loan forgiveness – Presentation SBDC NJCU

On Monday 5/11/2020, Victor Garrido, CPA, EA, had a presentation about PPP forgiveness with Christian Pichardo, NJSBDCA Marketing Director and Ryan Silvestre, NJSBDC Business Consultant thanks to SBDC and NJCU. You can find the presentation and draft Excel PPP forgiveness calculation so you can learn about this topic and maximize the PPP forgiveness. Also, you

By |2025-01-07T12:30:59+00:00May 12th, 2020|Categories: Business|Tags: , , , , |
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Second Round of Coronavirus relief and Employee Retention Credit

Second Round of Coronavirus relief The second round of Coronavirus relief funding was approved last Friday, so apply as soon as possible through your preferred financial institution. As you might know, the first round of funding lasted less than two weeks and some of the banks had a relatively small allocation running out of funds in a matter

By |2025-01-12T08:00:53+00:00April 29th, 2020|Categories: Individuals|Tags: , , , , , , |
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Employee Retention Credit (Option if you do not get or apply for the PPP)

If you are not approved for the PPP or not applying for it, the Employee Retention Credit might be a great option for your business if you continue to have payroll costs. Employers, including tax-exempt organizations, are eligible for the credit if they operate a trade or business during calendar year 2020 and experience either:

By |2021-01-05T11:39:31+00:00April 26th, 2020|Categories: Financial Education|Tags: , , |
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PPP for sole proprietors, independent contractors, and self-employed person

The Payroll Protection Program is available to sole proprietors, independent contractors, and self-employed persons, among other entities. There has been some confusion on this topic  and the clarification guidance was released around the same time the first round of PPP money ran out (April 15, 2020). Last Friday (April 23, 2020), there was signed a

By |2021-01-05T11:41:09+00:00April 26th, 2020|Categories: Financial Education|Tags: , , , |
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NJDOL step by step document – Filing for unemployment for the self-employed (State of NJ)

Please, find attached a New Jersey Department of Labor (NJDOL ) step by step document - Filing for unemployment for the self-employed (State of NJ) UI_process_selfemployed final

By |2021-01-05T11:41:18+00:00April 26th, 2020|Categories: Financial Education|Tags: , |
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Second Relief Package – More Funding for PPP

Late April 23, Congress passed a second coronavirus relief package; this $484 billion package includes $310 billion to replenish the Paycheck Protection Program (PPP). You can refer to the initial post in our website for information about the PPP - https://ggcpaservices.com/blog/paycheck-protection-program-ppp-form-information-sheet-payroll-schedule-and-other-relevant-info/ Note that the Guidance on PPP is constantly updated in the SBA site -  Lender

By |2025-01-12T08:02:56+00:00April 26th, 2020|Categories: Business|Tags: , , , |
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Federal Unemployment – Pandemic Unemployment Compensation (PUC)

The PUA/ PUC are applicable to independent contractors, self employed, employees that would not qualify for regular state unemployment, etc. They have to file with the State Unemployment and they will get rejected. They will need to keep the document of this rejection in other to apply to the PUA, PUC or similar program once

By |2025-01-09T07:08:48+00:00April 11th, 2020|Categories: Individuals|Tags: , , , |
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Hispanic Entrepreneurship Training Program (HETP) from the Statewide Hispanic Chamber of Commerce of New Jersey (SHCCNJ) #TBT

The Hispanic Entrepreneurship Training Program (HETP) from the Statewide Hispanic Chamber of Commerce of New Jersey (SHCCNJ) has a simple mission, to provide culturally and linguistically appropriate business education and mentorship services for free to Hispanic small business owners. ​Their classes are instructed by bilingual subject-matter experts with real world experience and successful track records in

By |2025-01-09T07:37:24+00:00April 10th, 2020|Categories: Financial Education|Tags: , , , , , , |
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NJEDA Announces Application for Loan Program for Small Businesses (Launch Date April 13, 2020)

The New Jersey Economic Development Authority (NJEDA) will launch the application for its Small Business Emergency Assistance Loan Program on Monday, April 13, 2020 at 9:00 am.  A link to the program application will be posted on the State’s COVID-19 Business Information Hub. To provide business owners the opportunity to prepare to apply for the loan,

By |2025-01-10T07:10:54+00:00April 9th, 2020|Categories: Business|Tags: , , , , |
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