by LAACPA | Feb 12, 2021 | News
The US Small Business Administration (SBA) released process changes last Wednesday aimed to improve the Paycheck Protection Program (PPP) approval process and reduce delays on the approval of loans. The PPP has been a financial lifeline for countless taxpayers during...
by LAACPA | Feb 11, 2021 | News
Eligible self-employed individuals can claim tax credits for sick leave and family leave under the Families First Coronavirus Response Act (FFCRA) using the new IRS Form 7202. You can take the credits on your 2020 Form 1040, for leave taken between April 1 and...
by LAACPA | Feb 8, 2021 | News
Levine and Associates have followed through with the latest updates and guidelines for the second reiteration of PPP launched last January 11. Working closely with clients, we’ve compiled three essential tips for PPP borrowers and CPAs need to remember during the...
by LAACPA | Feb 5, 2021 | News
New York Governor Coumo officially released the proposal to raise personal income tax rates for high earners as part of the $193 billion 2022 fiscal year budget. The governor expects this increase to raise around $1.5 billion of tax revenue, and would include federal...
by LAACPA | Feb 2, 2021 | News
Good news for small business owners and nonprofits, New York now allows eligible borrowers who received PPP loans and EIDL to also avail a NYFL loan, effective immediately until funding runs out. The New York Forward Loan Fund (NYFLF) is the economic recovery loan...
by LAACPA | Feb 1, 2021 | News
Business owners who got their PPP loan forgiveness application denied can instead claim the Employee Retention Credit for 2020. The Internal Revenue Service (IRS) published information on its website last week on how business owners who didn’t get their forgiveness...
