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COVID-19: Two New Refundable Payroll Tax Credits

Coronavirus-related paid leave for workers and tax credits for small and midsize businesses The US Treasury Department, IRS and Department of Labor issued a joint announcement that small and midsize employers can take advantage of two new refundable payroll tax credits designed to immediately and fully reimburse them, dollar for dollar, for the cost of [...]

COVID-19: Two New Refundable Payroll Tax Credits2020-03-26T20:34:10+00:00

COVID-19: Economic Relief Plan for Small Businesses

Keeping American Workers Paid and Employed Act The Keeping American Workers Paid and Employed Act is Division A of the Coronavirus Aid, Relief, and Economic Security Act (CARES ACT).  The CARES Act is 880 pages long, consisting of several different Divisions and Titles: A. Division A—Keeping Workers Paid and Employed, Health Care System Enhancements, and [...]

COVID-19: Economic Relief Plan for Small Businesses2020-03-26T17:47:34+00:00

COVID-19 Update: March 26, 2020 Charleston Stay At Home Ordinance

The Charleston Emergency Stay At Home Ordinance is cited below in full.  If you or your business needs any assistance during this outbreak, please contact our law office. Emergency Ordinance On Stay At Home Section 1. Findings. City Council does hereby make the following findings: WHEREAS, in December 2019, an outbreak of respiratory illness due [...]

COVID-19 Update: March 26, 2020 Charleston Stay At Home Ordinance2020-03-25T16:58:24+00:00

COVID-19: SBA Disaster Loan Eligibility and Application Assistance

SBA’s Disaster Declaration Makes Loans Available Due to the Coronavirus (COVID-19) The U.S. Small Business Administration (SBA) is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Upon a request received from a state’s or territory’s Governor, [...]

COVID-19: SBA Disaster Loan Eligibility and Application Assistance2020-03-24T20:26:56+00:00

COVID-19 Update – Financial Resources and Remedies

We hope that you and your family are safe and healthy.  As economic losses continue from the coronavirus pandemic, South Carolina and the federal government have made important changes aimed at providing some financial relief.  Here is a summary of what we know so far: Income Taxes The deadline to file federal income tax returns [...]

COVID-19 Update – Financial Resources and Remedies2020-03-24T15:17:38+00:00

Families First Coronavirus Response Act Takes Effect April 2, 2020

On March 18, 2020, the Senate passed the Families First Coronavirus Response Act, which President Trump signed last night and will become effective April 2, 2020. The below is a general summary and is not intended to be entirely comprehensive. The following is a brief overview of the Act: Expanded Family Medical Leave Act (FMLA) [...]

Families First Coronavirus Response Act Takes Effect April 2, 20202020-03-23T15:59:31+00:00

Sweetgrass Pharmacy & Compounding – Offering Delivery Service

Sweetgrass Pharmacy & Compounding is providing expanded delivery services and curbside pickup throughout the Charleston area.  If you need pharmacy items, including hand sanitizer, toilet paper, or vitamins, and cannot leave your home, call 843-657-4013 or text 843-428-8727. Sweetgrass Pharmacy & Compounding is a locally owned and operated compounding pharmacy. The principal pharmacy is located [...]

Sweetgrass Pharmacy & Compounding – Offering Delivery Service2020-03-20T18:08:51+00:00

IRS Extends Tax Filing to July 15, 2020

IRS extends tax filing deadline to July 15 as coronavirus spreads, Mnuchin says More relief for individuals and small businesses.  Key Points - The Internal Revenue Services moved the national income tax filing day ahead to July 15, three months after the normal deadline for Americans to send in their returns. Treasury Secretary Steven Mnuchin [...]

IRS Extends Tax Filing to July 15, 20202020-03-20T15:34:16+00:00

Year-End Tax Planning Strategies for Businesses

A number of end-of-year tax planning strategies are available to business owners that can be used to reduce their tax liability. Here are a few of them: Deferring Income Businesses using the cash method of accounting can defer income into 2020 by delaying end-of-year invoices, so payment is not received until 2020. Businesses using the [...]

Year-End Tax Planning Strategies for Businesses2020-02-18T21:14:23+00:00

Three Tips for Getting an Accurate Business Valuation

If you're conscientious about financial reporting, you may already have a sense of your company's worth, but in some instances, you might need a formal business valuation, such as: Certain transactions: Are you selling your business? Planning an IPO? Need financing? Tax purposes: This includes estate planning, stock option distribution, and S Corporation conversions. Litigation: [...]

Three Tips for Getting an Accurate Business Valuation2020-02-18T21:14:23+00:00