2020 Payroll Tax Deferral

2020 Payroll Tax Deferral Trump’s executive action regarding the payroll tax deferral has started this week. Here are the important things you will need to know: Payroll tax deferral is not mandatory, so it is up to each employer whether they implement it or not Time period is Sept. 1st thru Dec. 31st 2020 Tax […]

Unemployment Fraud Sweeps Nevada

Unemployment Fraud Sweeps Nevada If you’re a business owner, and you receive a claim from unemployment, you better take a closer look at that notice, because it might be fraud! How do I know if it is Fraud? A lot of my clients, including myself, received a letter from DETR labeled, “Notice of Claim Filed” […]

How does oil go negative?

How do we get a negative cost for a barrel of oil? I had a few people ask me yesterday, how can anybody sell a barrel of oil for a negative cost (i.e. below zero)?  So what happened? On April 20th, the May 2020 futures contracts were about to expire (i.e. the last day to […]

CAREs Act

The CAREs Act The Coronavirus Aid, Relief, and Economic Security Act (CAREs Act) was signed into law on March 27th. There were a lot of different things that were included in the bill, below we will go over the most important. Stimulus Payments By now you’ve probably heard of the Stimulus payment that you may receive […]

Paycheck Protection Program

How Small Businesses Can Apply for Money You Don’t Have to Pay Back Ever with the Paycheck Protection Program Last week, the President signed the CARES act (The Coronavirus Aid, Relief, and Economic Security Act).  Part of the CARES act includes the “Paycheck Protection Program” (PPP) for small businesses.  The PPP is a different program […]

Coronavirus: SBA Loan Assistance Program

SBA Economic Injury Disaster Loans If you own a small business and have been affected by the Coronavirus (COVID-19). I’m sure you’ve heard of the various stimulus bills the President and Congress have approved. Part of the stimulus includes the SBA Economic Injury Disaster Loan (EIDL). SBA’s EIDLs are loans offered for disaster areas.  SBA offers […]

Should I Open a Corporation or an LLC?

A corporation and an LLC are two very different entities. Both entities come with their own advantages and disadvantages; many of which relate to ownership structure, tax implications and how the business is formed. Both LLCs and corporations also have similarities, too. For example, both business structures offer personal liability protection, meaning owners/shareholders are protected […]

Benefits of Opening an HSA

Introduction A health-savings account, or HSA, is one of the most underutilized saving accounts. As monthly premiums are significantly less than other health plans, an HSA is a powerful means by which to limit healthcare costs and their associated tax burden, whilst saving for future medical expenses. One of the common misconceptions about opening an […]