San Diego Certified Public Accounting Firm Since 1983
The American Rescue Plan Act of 2021, that was passed in March of 2021, allocated $28.6 Billion to the Restaurant Revitalization Fund, to be administered. . . READ MORE »
Below is a brief summary of the ERC rules for 2020 and 2021, which includes clarifications provided by IRS Notice 2021-23. For additional guidance on. . . READ MORE »
Program Summary Required to be paid back? Taxable for Federal/California Economic InjuryDisaster (EIDL)Advance Established by the Economic Aid to Hard-Hit Small Businesses.Administered by the SBA.. . . READ MORE »
The American Rescue Plan Act of 2021, that was passed in March of 2021, provided an enhanced child and dependent care credit (CDCC) for tax. . . READ MORE »
The Employee Retention Credit (ERC) was originally created as part of the CARES Act, passed in March of 2020. This was a refundable payroll tax. . . READ MORE »
On January 15, 2021, the IRS announced that it won’t be ready to start accepting and processing 2020 tax returns for individuals until February 12,. . . READ MORE »
On December 27, 2020 President Donald Trump signed into law the $900 billion Covid-19 relief bill passed by Congress on December 21, 2020. The largest. . . READ MORE »
On November 30, 2020 Governor Gavin Newsom announced the creation of a $500 million Covid-19 Relief Grant for small businesses that have been impacted by. . . READ MORE »
California has multiple resources for small businesses impacted by Covid-19 including the following: Extensions, Tax Relief, and Credits Extended filing Deadline The California Department of. . . READ MORE »
Under the CARES Act, the amount of Paycheck Protection Program (PPP) loan forgiven is excluded from gross income. On May 2, 2020 the Department of. . . READ MORE »