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ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, BY A CLIENT OR ANY OTHER PERSON OR ENTITY FOR THE PURPOSE OF (i) AVOIDING PENALTIES THAT MAY BE IMPOSED ON ANY TAXPAYER OR (ii) PROMOTING, MARKETING OR RECOMMENDING TO ANOTHER PARTY ANY MATTERS ADDRESSED HEREIN.
Category Archives: Payroll
COVID-19 Employer Payroll Tax Deferral UPDATED
Updated 06/05/2020 SBA PPP Loan Forgiveness recipients, upon Paycheck Protection Program Flexibility Act becoming law, can now defer the employer share of Social Security and Medicare payroll taxes incurred through the end of the year. Previously, SBA PPP Loan recipients … Continue reading
Posted in Accounting, Covid-19, Grants & Assistance, IRS, Payroll, Taxes
Tagged #ACCPAS, #COVID19, Carol McAtee, Carol McAtee & Associates, PPP, SBA Loans, St. Petersburg Florida CPA
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COVID-19 Congress Makes PPP Loan Forgiveness A Bit Easier!
Last week, on May 27, 2020 the House passed legislation, Paycheck Protection Program Flexibility Act, H.R. 7010, loosening the requirements for PPP loan forgiveness. Yesterday, the Senate, while not in full session, unanimously consented to the House version of the … Continue reading
Posted in Accounting, Business, Business Taxes, Covid-19, General Interest, Grants & Assistance, IRS, Payroll, Taxes
Tagged #ACCPAS, Carol McAtee, Carol McAtee & Associates, PPP, SBA Loans, St. Petersburg Florida CPA
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COVID-19 Why Hasn’t My Friend Gotten Their Stimulus Check?
On April 16, 2020 we published The Corona Virus Version of Where’s My Refund which highlighted Just Asking for A Friend. Today we publish Why Hasn’t My Friend Gotten Their Stimulus Check? In case your friend is wondering where the … Continue reading
Posted in Accounting, Business, Covid-19, General Interest, Grants & Assistance, IRS, Payroll
Tagged #ACCPAS, #covid-19, Carol McAtee, Carol McAtee & Associates, St. Petersburg Florida CPA
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#COVID-19 PPP Loan Forgiveness and Furloughed Employees Part 3 of 3
You want them back but you really shouldn’t call or text. Give the furloughed employee a written Offer of Recall that documents: Return to work date. Terms of employment – Position, Supervisor, Responsibilities/Job description, Salary/hourly rate, Hours, and whether Exempt/Non-exempt … Continue reading
Posted in Accounting, Business, Business Taxes, Covid-19, Payroll, Taxes
Tagged #ACCPAS, #COVID19, Carol McAtee, Carol McAtee & Associates, Payroll, PPP, SBA Loans, St. Petersburg Florida CPA
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#COVID-19 Employer Payroll Tax Deferral UPDTD Part 2 of 3.
“Section 2302 of the CARES Act provides that the payment and deposit of the employer’s share of the social security portion of FICA tax and the employer’s share of the social security portion of RRTA tax for deposits that are … Continue reading
Posted in Business, Business Taxes, Covid-19, IRS, Payroll, Taxes
Tagged #ACCPAS, #COVID19, Carol McAtee & Associates, IRS, Payroll, St. Petersburg Florida CPA
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#COVID-19 Employee Retention Tax Credit (ERTC) Part 1 of 3.
The ERTC is encouragement, for employers to keep paying employees, in the form of a refundable credit equal to 50% of up to $10,000 of qualified wages for a maximum $5,000 credit – per employee. The credit is taken against … Continue reading
Posted in Business, Business Taxes, Covid-19, General Interest, IRS, Payroll, Taxes
Tagged #ACCPAS, #COVID19, #mcateeandassociates, Carol McAtee & Associates, IRS, Payroll, St. Petersburg Florida CPA, Taxes
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