June 1, 2020 Hello and welcome to our next installment of Off the Cuff. Today, I’d like to talk a little bit about the loan forgiveness provisions related to the Paycheck Protection Program. Forgiveness Application In the last week, the Treasury Department has come out with a loan application for forgiveness, along with additional guidance…
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Business life insurance policies are common to an accountant, but I never knew the real-world application or benefit of them until recently. I got married this past summer and my wife and I started looking into life insurance policies. I asked our agent about partnership life insurance out of curiosity and realized it’s something more business…
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Are you self-employed and trying to apply for loans? If so, you’re well aware that the bank will do everything in its power to put you through the wringer during the personal loan application process. This usually happens because we overlook preparing required additional documentation. This results in a longer application process. That’s why our…
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Do you know if your worker is technically an employee or an independent contractor? The line can be blurry. The IRS provides guidelines to help you figure it out, but sometimes it’s not enough. The choice you make will have a significant impact on your staff and your taxes. It’s important that you’re accurate. Consider…
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A popular type of corporation is the S-Corporation business entity type. Legally, there is no difference between a C-Corporation and an S-Corporation. However, for tax purposes, the two are very different. An S-Corporation business entity is just a corporation that has made an “S-election” for tax purposes. S-Corporations can be a popular entity choice for…
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Historically the C-Corporation business entity is one of the most commonly used entity types. If you or someone you know own a company that has been around more than 30 years, chances are it’s a C-Corporation. The past 25 years or so have given rise to several new types of entities (such as LLCs and…
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