What You Need to Know About the Paid Sick and Family Leave Tax Credits
The Families First Coronavirus Response Act (FFCRA) signed on March 18, 2020, made unprecedented expansions to paid sick and family (childcare) leave provisions in light of the challenges for the American workforce due to COVID-19. The expansions to paid sick and family leave cover employers with up to 500 employees, and tax credits are available for up to 100% of qualifying wages paid. Eligible employers are granted a grace period by the DOL to come into compliance with the Act as long as employers act reasonably and in good faith during the grace period.
Read moreFinancial Relief for Families Tax Credit – What to Expect with Your Check
The distribution of economic impact payments is expected to begin in the next three weeks and be available throughout the rest of 2020. With so much news circulating, it can be difficult to keep tabs on the latest updates. We also recognize it can be challenging to separate the legitimate updates from speculation. Below we have put together a summary of what we know so far about the economic impact payments.
Read moreCARES Act Overview: The Impact on Taxpayers and Businesses
The President signed the latest COVID-19 relief bill on March 27: The Coronavirus Aid, Relief, and Economic Security (CARES) Act. The bill brings with it several elements of relief for businesses, employees and families, in an effort to maintain livelihoods throughout the crisis and after. The expected cost of the bill is nearly $2 trillion and includes nearly $500 billion for in economic distress relief for businesses, states and municipalities.
Read moreIRS’ Employer COVID-19-Related Credits
The IRS has announced that employers required to provide emergency paid sick leave and emergency paid family and medical leave under the Families First Coronavirus Response Act (the Act) can begin taking advantage of two new refundable payroll tax credits. Equivalent credits are available to self-employed individuals based on similar circumstances.
Read moreEmployer Resource Guide: FAQ – Adjustments to FMLA and Paid Sick Leave in Response to COVID-19
The COVID-19 virus has made fast, drastic changes to how we live and work. State-mandated business closures are creating challenges and generating many questions on how to preserve business continuity during this period. On March 18, 2020, President Trump signed the Families First Coronavirus Response Act (FFCRA), which takes effect on April 2. The bill expanded paid sick leave and unemployment benefits, impacting employees and employers, among other provisions.
Read moreSBA Providing Disaster Assistance Loans to Qualified Small Businesses
Qualified small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA) after President Trump called for an additional $50 billion in funding to the SBA’s lending program from Congress in response to COVID-19. While the SBA waits for the $50 billion to be approved, they can deliver an Economic Injury Disaster Loan declaration in response to the Coronavirus Preparedness and Response Supplemental Appropriations Act recently signed by the president.
Read more5 ways to strengthen your business for the new year
The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to strengthen your business for the new year by doing a little of both:
Read moreWhat’s the right device policy for your company?
Device policies pertaining to smartphones and other technology tools are evolving. Loose “bring your own device” (BYOD) policies are giving way to stricter “choose your own device” (CYOD) or “corporate-owned, personally enabled” (COPE) policies. A CYOD policy lets employees buy a device for combined personal/work use from a company-approved list. Generally, the employee owns the device while the business owns the SIM card and any proprietary data. Under a COPE policy, the employer buys and owns the device, which is intended for business use. The cost is higher, but it comes with greater control. We can help you analyze the potential costs of a device policy and make the right choice.
Read more5 Ways to Trim Your 2019 Tax Bill
There may still be opportunities to reduce your company’s 2019 tax bill.
Read more3 key traits of every successful salesperson
The best salespeople are closers, who seal the deals and pull in the revenue that drives a company’s bottom line. And they all have these three things in common.
Read moreFinancial Statements Tell Your Business’s Story, Inside and Out
Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements. In short, financial statements are…
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- posted by LB Carlson
- June 23, 2018
Carlson Advisors, LLP Announces Name Change and Move of Minneapolis Location
Carlson Advisors, LLP Announces Name Change and Move of Minneapolis Location Effective July 1, 2018, we are changing our name to LB Carlson, LLP. The name LB Carlson was selected in honor of the firm’s founder Lawrence ‘Lary’ B. Carlson….
Read moreAn EAP Can Keep Your Top Players on The Floor
A good basketball team is at its best when its top players are on the floor. Similarly, a company is the most productive, efficient and innovative when its best employees are in the right positions, doing great work. Unfortunately, it’s…
Read moreEnvision your advisory board before you form it
Many companies reach a point in their development where they could benefit from an advisory board. It’s all too easy in today’s complex business world to get caught up in an “echo chamber” of ideas and perspectives that only originate…
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