COVID-19 Post #5 – SBA Debt Relief Program

As part of the Small Business Administration’s debt relief efforts during the Covid-19 Pandemic, they have also implemented a Debt Relief Program which entails the following key points: The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of 6 months; and The SBA will also […]

COVID-19 Post #4 – Unemployment for the Self-Employed

COVID-19 Post #4 – Texas Workforce Commission Promotes Unemployment Insurance for 1099 Contractors and the Self-Employed As posted by the Texas Workforce Commission on April 13, 2020, as part of the CARES Act unemployment portion regarding Pandemic Unemployment Assistance (PUA) for self-employed and 1099 contractors was implemented.  It’s recommended through PUA as a result of COVID-19 benefits […]

COVID-19 Post #3 – Other SBA Loan Options

Express Bridge Loans The purpose of the SBA Express Bridge Loans help enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.  These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can […]

COVID-19 Post #2 – Paid Family Leave

Paid Family Leave Refundable Credit for COVID-19 Affected Employees The Families First Coronavirus Response Act has provided an employer refundable credit signed by President Trump on March 18, 2020, providing small and midsize employers refundable tax credits that reimburse them, dollar-for-dollar, for the cost of providing paid sick and family leave wages to their employees for […]

COVID-19 Post #1 – Employee Expenses

Employer Tax Deductible Reimbursement Deductions for COVID-19 Employee Expenses On March 13, 2020, the President of the United States issued an emergency declaration under the Robert T. Stafford Disaster Relief and Emergency Assistance Act in response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic (IRS Notice 2020-18), under Section 139.  Although it does not require […]

Tax Deadlines & Disaster Loans

July 15, 2020 – NOT April 15, 2020 As of today, March 20, 2020, Steve Mnuchin tweeted 2019 IRS tax extension would be extended to July 15, 2020, 3 months past the traditional April 15th deadline.  The purpose of this has been to help alleviate the severity of what has been an unprecedented economic impact […]

How Can My Business Survive This Pandemic?

Yes, it’s caught everyone off guard and something like no one has ever experienced in the day and age, but the question is how do so many business owners, self-employed individuals, and everyday workers deal with just basic survival.  At the time of this writing, these two highlighted economic options have likely been more fine-tuned, […]

It’s Not the Welcome Wagon Knocking on Your Door

There is now an increase in IRS physical visits for those taxpayers who are considered high-income (those receiving over $100,000 in a tax year), who not only have not filed tax returns in the past consistently, nor have they actually been making good on their installment agreements should they have been prepared to satisfy their […]

Can you be Unfaithful to Your Partner Financially?

A recent article posted in the Houston Chronicle by R.A. Schuetz recently noted that nearly half (44%) of all Americans are hiding hidden credit card or loan debt, checking or savings accounts, or cash in their own home or with other relatives or friends, property, etc. compared to last year’s poll responses.  Not surprisingly, when […]

Construction Projects Have Budgets but Does the Average Contractor?

In the construction industry there’s a rule of thumb to always be developing, monitoring, and always working to come under budget from the smallest of renovation projects to multi-million-dollar buildings.  Due to the amount of financial constraints from investment partners to bank loans to mortgage lenders, the numbers not only have to make sense they […]