Latest with the IRS Guidance on Payroll Tax Deferral

On August 8, 2020, President Trump issued a memorandum authorizing the deferral of payroll taxes for certain employees from September 1, 2020 through December 31, 2020. On August 28th, the IRS released Notice 2020-65 providing guidance to employers about how to implement the deferral. While helpful, the guidance still leaves many open questions about the practical implementation of the deferral and the risks to employers participating in this program.

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Topics: Tax, IRS, small business, LGT, COVID-19, payroll, deferral

What Does Trump’s Payroll Tax Deferral Plan Mean For You?

On August 8, 2020, President Trump issued a memorandum to the Secretary of the Treasury authorizing the deferral of payroll taxes for certain employees from September 1, 2020 through December 31, 2020. Unfortunately, the memorandum leaves many more questions than answers for employers, making participation in the program an uncertain endeavor. The below discussion highlights what we know so far and what we need to learn before September 1st.

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Topics: Accounting Tips, Tax, COVID-19, payroll

How Not-for-Profits Can Use Virtual Fundraising During the Pandemic

Posted by Sheryl Grady on Jul 10, 2020

Like all business operations, the COVID-19 pandemic is changing how not-for-profit organizations execute their fundraising activities. No one knows how long the crisis will last, and not-for-profits can’t afford to take a break from fundraising. Staying connected to donors is critical to not-for-profits and their ability to achieve their mission.

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Topics: Not-for-Profit, COVID-19

Sound Financial Management Helps Not-for-Profits Through the COVID-19 Pandemic

As the new paradigm of the global pandemic sets in, many not-for-profit organizations are pivoting to adapt and cope. Many organizations are making changes to their services, operations, and fundraising activities.

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Topics: Not-for-Profit, COVID-19

Paycheck Protection Flexibility Act

Article Update: As of June 5, 2020, the president signed the Paycheck Protection Program Flexibility Act into law.

On June 4, 2020, the U.S. Senate passed the House version of a bill designed at providing more flexibility for borrowers that are utilizing the Paycheck Protection Program loans to keep their businesses afloat during the COVID-19 pandemic. With unanimous bipartisan support, the bill now passes to the president, who is expected to sign.

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Topics: Accounting Tips, Tax, coronavirus, COVID-19, CARES Act, Paycheck Protection Program, Paycheck Protection Flexibility Act, PPF, PPP Loan

Pivotal Guidance Regarding the PPP Loan Forgiveness

On Friday, May 22, 2020, the Small Business Administration issued a pair of documents containing much-needed guidance for borrowers and lenders participating in the SBA’s Paycheck Protection Program (PPP).

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Topics: Accounting Tips, Tax, coronavirus, COVID-19, CARES Act, Paycheck Protection Program

FA Market Update - May 22, 2020

Posted by Miller Bentley, Financial Advisor on May 22, 2020

Earlier this year my wife and I embarked on an adventure with our 3 ½ year old niece and nephew – the Ft Worth Stock Show and Rodeo. As a Christmas gift to them (more so probably to their parents) we spent the day viewing all the livestock, indulging in top-quality fried foods, and cheering on the participants in the afternoon rodeo competition.

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Topics: Financial Planning, coronavirus, investment, COVID-19, market

FA Market Update - May 15, 2020

Posted by Miller Bentley, Financial Advisor on May 15, 2020

As the month of May rolls on and life continues to return to “new normal” for some, the questions seem to mount by the hour for those keeping up with the markets. Previous updates have stressed the extreme volatility at play since the COVID-19 breakout, along with the economic downfall that has shown only more glaring signs of turmoil as US businesses have sputtered at re-opening.

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Topics: Financial Planning, coronavirus, investment, COVID-19, market

Not-for-Profit’s Guide to Federal COVID-19 Stimulus Legislation

The U.S. government has approved far-reaching legislation to provide relief to American families, businesses, and not-for-profit organizations. Two significant bills are the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

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Topics: Not-for-Profit, COVID-19, loans

FA Market Update - May 8, 2020

Posted by Miller Bentley, Financial Advisor on May 8, 2020

Creating a plan and sticking to it can be one of the most difficult tasks with regards to financial planning. From the very beginning there is a challenge: where to start? There are multiple starting points, differing financial aspirations, and a countless amount of essential expenses that vary from person to person. Decisions must be made early in order to start moving towards the goal, and decisions will shift as life changes.

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Topics: Financial Planning, coronavirus, investment, COVID-19, market

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