Ten days ago, MUAC began reading and interpreting the Cares Act that was signed into law on Friday. Over the past seven days, we developed a task force to assist clients with each section of the Act and have been daily in contact with banks in our community to ensure the process can be as […]
Protecting Cash Flow
The impacts of the virus haven’t effected all industries equally to this point. Certainly consumer related businesses have been impacted the most so far, but business to business industries may see the effects months down the road. No need to sound the alarm, but we want to be your forward thinking advisors and provide a […]
House Passes and President signs the CARES Act
On March 27, the House passed by voice vote, and the President signed, a third Coronavirus relief package, the Coronavirus Aid, Relief, and Economic Security Act. The Senate had previously passed the Act on March 25 by unanimous vote. The bill contains many tax related provisions. INDIVIDUAL PROVISIONS An eligible individual is allowed an income […]
COVID-19 Payroll Resources
Employee Retention Credit for Employers
Under the newly passed Coronavirus Aid, Relief, and Economic Security Act (CARES Act), additional payroll tax credits and tax payment deferrals are included to improve cash flow and employee retention. Employers, including nonprofits, whose operations have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings, or […]
Federal COVID-19 Resources
Coronavirus and Forbearance Info for Students, Borrowers, and Parents April 6, 2020 We at the U.S. Department of Education (ED) office of Federal Student Aid are actively monitoring the new coronavirus/COVID-19 outbreak. On March 27, 2020, the president signed the CARES Act into law, which, among other things, provides broad relief for federal student loan borrowers. READ […]
State & Local COVID-19 Resources
Relief for Virginia Taxpayers Affected by Ongoing Coronavirus Pandemic April 3, 2020 Any income tax payments due during the time period of April 1, 2020, to June 1, 2020, will now be due on June 1, 2020. This includes individual and corporate income taxes paid to Virginia Tax. READ MORE Chesterfield Board of Supervisors Approve […]
SBA Loans & Financing Resources
Preparation for the Payroll Protection Program March 30, 2020 While we are currently awaiting further clarification from the SBA regarding the Payroll Protection Program, we are recommending that our clients gather the following documents which will likely be needed in the calculation of the loan value. READ MORE SBA Loans & Financing Updates for Coronavirus […]
Cash Flow Resources
Protecting Cash Flow March 28, 2020 The impacts of the virus haven’t effected all industries equally to this point. Certainly consumer related businesses have been impacted the most so far, but business to business industries may see the effects months down the road. READ MORE Cash Flow Tool during Coronavirus March 25, 2020 COVID-19 has […]
April 15th Due Date for Returns & Payments Postponed to July 15, 2020
The due date for filing Federal income tax returns and making Federal income tax payments due April 15, 2020, has been postponed to July 15, 2020. Taxpayers do not have to file any forms for the extension. There is no limitation on the amount of the payment that may be postponed. This relief is available […]
