Michels & Hanley CPAs LLP

Tax Relief

Tax Credit Expanded for More Business Relief

Employee Retention Tax Credit Expanded for More Business Relief 1.13.21 | Client AlertThe Employee Retention Credit (ERC), which was originally included in the CARES Act(original law) passed in March 2020, provided a refundable payroll tax credit of 50% for up to$10,000 in qualifying wages per employee paid by an eligible
Stimulus bill, COVID relief

Details of the New Stimulus Act

 12.29.20 | Client AlertPresident Trump has signed the $900 billion Consolidated Appropriations Act, 2021 into law, bringing expanded COVID-19 relief to businesses, nonprofits and individual taxpayers.As we previously wrote about, included in the legislation is the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (“the Act”), which includes
Categories:  B2B, Banking, Covid-19, Finance, New & Trends, Slider, Taxes
New-COVID-relief-bill

$900 Billion Covid Relief Deal Reached Including Deductibility of PPP expenses

Michels & Hanley CPAs, LLP COVID-19 –12.21.20 | Client Alert Congress leaders announced Sunday night that they reached a deal on a $900 billion COVID-19 relief package.One of the biggest questions from small business owners who received PPP funds has (or is expected to) been answered. The provision, part of
Categories:  B2B, Covid-19, Employee Benefits, HR, New & Trends, Slider

Paycheck Protection Program: Round 2 for Small Businesses

Michels & Hanley CPAs, LLP COVID-19 –Paycheck Protection Program: Round 2 for Small Businesses 12.18.20 | Client Alert  Earlier this month, a group of lawmakers revealed the framework for a $908 billion COVID economic relief plan (Senate “Gang of 8” Proposal), which designates $300 billion for support of small businesses,
Categories:  B2B, Covid-19, Employee Benefits, New & Trends, Slider

PPP Loan Forgiveness changes coming as Senate passes House bill

Michels & Hanley CPAs, LLP COVID-19 – PPP Loan Forgiveness changes coming as Senate passes House bill June 4th, 2020 | Client Alert The U.S. Senate passed the House version of Paycheck Protection Program (PPP) legislation last night, tripling the time allotted for small businesses and other PPP loan recipients
Categories:  Covid-19, Finance