The Senate passed a bill this week which extends the PPP Loan forgiveness period to 24 weeks and decreases the required amount spent on payroll from 75% to 60%. #FinancialFactFriday https://www.entrepreneur.com/article/351489
Are you currently working from home? If you are self-employed, you may be able to qualify for a tax deduction based on the size of your home office. #TaxTipTuesday https://money.usnews.com/money/personal-finance/taxes/articles/guide-to-home-office-tax-deduction
MONEY.USNEWS.COM
Can You Take the Home Office Tax Deduction?
Qualifying individuals can take a "coronavirus-related distribution" from their retirement account, avoid the 10% early withdrawal penalty and re-contribute the funds over three years. #TaxTipTuesday http://news.cchgroup.com/2020/04/10/coronavirus-retirement-distributions-plan-loans/news/federal-tax-headlines/
NEWS.CCHGROUP.COM
Coronavirus Covid-19 Retirement Distributions and Plan Loans - Tax & Accounting Blog
Business owners who need at-home work for employees can pay them to develop a procedures manual for their business processes. #FinancialFactFriday https://smallbusiness.chron.com/write-standard-operations-procedures-manual-2596.html
SMALLBUSINESS.CHRON.COM
How Do I Write a Standard Operations Procedures Manual?
The SBA recently released the official PPP Loan Forgiveness Application. The application clarifies many things, including a definition of "incurred" payroll costs that can count towards loan forgiveness. #TaxTipTuesday https://www.forbes.com/sites/jasonbfreeman/2020/05/17/sba-issues-ppp-loan-forgiveness-guidance-a-few-new-rules-what-you-need-to-know-now/#7675cae535ca
FORBES.COM
SBA Issues PPP Loan Forgiveness Guidance, A Few New Rules: What You Need To Know Now
Business owners who are closed down due to COVID-19 can spend some time "working on" instead of "working in" their business. For tips on business improvement, we recommend reading "The E-Myth Revisited" by Michael Gerber. #FinancialFactFriday https://www.amazon.com/Myth-Revisited-Small-Businesses-About/dp/0887307280
AMAZON.COM
The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It
JOB OPENING: Part-time Admin Assistant (M-F, 25 hours / week) to assist with answering phones, scheduling appointments and other office work during tax season (Feb 1 - April 16). Qualified applicants will have strong verbal communication skills. Please apply by Jan 26, 2021 and be sure to include your work history / resume.
PORTERKINNEY, PC
Admin Assistant
Cast your vote for the best grocery store in the Tri-Cities! The CPA's at PorterKinney will order a large stack of Papa John's pizzas for one grocery store just before the holidays. Please comment as to which grocery store should receive these pizzas and let us know why. Be sure to like and share this post for your vote to be considered. We are so grateful for the work done by grocery store employees throughout this pandemic!
