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Employee Retention credit still available – Up to $26k per employee

The Employee Retention Credit (ERC) is a fully refundable credit that targets businesses with employees (w2s) in 2020 and 2021. These businesses must have been impacted by the pandemic, mainly either 1) reduction of sales (50% reduction in 2020 quarter versus 2019 quarter or 20% reduction in 2021 quarter versus 2019 quarter) or 2) partial

By |2022-06-03T15:47:29+00:00June 1st, 2022|Categories: Business, Financial Education|Tags: , , , , , , , , , |

Relevant sources to be informed in tax and accounting matters

Our partners and team members review daily articles, posts, etc. from  different sources (this is not a comprehensive list) and communications from other CPAs, EAs, accountants, and tax professionals. We have noted a faster pace of changes in the tax and accounting professional industry, with many examples in the recent years. Example 1 - Tax

By |2021-01-22T17:27:52+00:00January 23rd, 2021|Categories: Financial Education|Tags: , , , , , , |

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: , , |

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: , , , |

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: , |

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 |2021-01-05T11:45:06+00:00April 10th, 2020|Categories: Financial Education|Tags: , , , , |
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