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$1.9 Trillion American Rescue Plan Act Signed into Law

$1.9 Trillion American Rescue Plan Act Signed into Law

  On Thursday afternoon, President Biden signed the American Rescue Plan Act of 2021, making it into law. The Act includes extensions of enhanced unemployment relief, increased funding for COVID-19 testing and vaccination programs, aid to state and local governments, and assistance to schools to help get students back into classrooms. Several tax provisions are […]

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PPP adjusted to prioritize very small businesses

PPP adjusted to prioritize very small businesses

When the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) last year, the program’s stated objective was “to provide a direct incentive for small businesses to keep their workers on the payroll.” However, according to federal officials, the recently issued second round of funding has distributed only a small percentage of the $15 billion […]

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ECONOMIC AID ACT REBOOTED

Economic Aid Act Rebooted (PPP Loan 2)

The U.S. Small Business Administration (SBA) and Treasury issued guidance late Wednesday night for the reconstituted Paycheck Protection Program (PPP). The guidance came in the form of two interim final rules (IFRs): The IFR “Business Loan Program Temporary Changes; Paycheck Protection Program as Amended”, which consolidates the rules for PPP forgivable loans for first-time borrowers and […]

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How COVID-19 could impact year-end inventory counts

How COVID-19 could impact year-end inventory counts

Many businesses are closed or are limiting third-party access as COVID-19 surges across the United States. These restrictions could still be in place at year-end — a time when external auditors traditionally observe physical inventory counts for calendar-year entities. Here is how you can identify and overcome the challenges associated with inventory counts during the […]

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Taking distributions from a traditional IRA

Taking distributions from a traditional IRA

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it is even more critical that you plan for withdrawals from these tax-deferred retirement vehicles. There are three areas where knowing the fine points of the IRA distribution rules can make a big difference […]

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