Financial, Tax, and Family Office Services
The IRS has decided to forgive failure-to-pay penalties on most of the income tax returns for 2020 and 2021. As an example: You filed an extension for your 2020 return April 15, 2021, then filed and paid the balance due August 15, 2021. The balance due should have been paid April 15, but since you …
Stated purpose: to strip US shell companies of anonymity that can hide financial activity. Procedure: Registering Limited liability companies, corporations, partnerships, and other closely held entities with a government database. Process: Not yet defined, as the forms have not been finalized. Generally, the idea is good. Until CTA is in effect, someone can form a …
The Corporate Transparency Act, aka The Next Big Compliance Nightmare Read More »
Beginning January 8, 2024, Texas employers are required to post a notice that employees can anonymously report workplace violence or suspicious activities to the Department of Public Safety in accordance with House Bill 915, 88th Texas Legislature, Regular Session (2023), and 40 Texas Administrative Code § 800.600. The notice must be posted in English and …
This has already been a complex year, and it’s only March. Here are some of the major changes. FILING DEADLINES: For individuals and businesses in Texas, income tax returns which are normally due on March 15th and April 15th are automatically extended until June 15th this year as a result of the Presidentially-declared natural disaster …
Martin Lindstrom describes the latest casualty of COVID-19 – the demise of the office as “a fun place to work” and the effect of corporate culture. His article was originally posted in LinkedIn (easiest to read there) ; a pdf is found here if you can’t find it.
The SBA has issued clarification on this issue. Question: Will a borrower’s PPP loan forgiveness amount (pursuant to section 1106 of the CARES Act and SBA’s implementing rules and guidance) be reduced if the borrower laid off an employee, offered to rehire the same employee, but the employee declined the offer? Answer: No. As an …
PPP Guidance- What if a laid-off employee refuses to come back to work? Read More »
If your company was too big to qualify for the PPP and EIDL loans, these new loans (MSNLF and MSELF )may be possibilities. They are slightly different programs: MSNLF loans max at lesser of $25 million or 4X 2019 EBITDA; MSELF maxes at lesser of $150 million, 30% or borrower’s existing outstanding and committed but …
If your business is too large to qualify for PPP and EIDL Read More »
Martin Lindstrom has three predictions – and for those of you overdosing on the news feeds, this is a welcome break. Take five minutes and read this. I also have predictions which I’ll publish later – right now, I’m assisting my clients with PPP and EIDL.
The CARES Act which was passed last week by Congress and signed by the President has a number of provisions that effect you and your business. I’ll try the summarize the most relevant and timely issues here. This is a broad overview – some may not be relevant to you/your business but I hope to …
Overview of Cares Act sent to clients April 2, 2020 Read More »
Here’s a link to the actual bill signed into law March 27, 2020 (approximately 335 pages long) html pdf