Oct 14, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Medical Practices, Not-for-Profit, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
According to a recent release from the Small Business Administration, borrowers can apply for forgiveness of their PPP loan using new SBA Form 3508S if the total PPP loan amount they received from their lender was $50,000 or less. “SBA Form 3508S requires fewer...
Oct 8, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Hospitality, Medical Practices, Not-for-Profit, Personal Financial Planning, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
From a tax perspective, the distinction between hobbies and businesses is important because businesses can deduct losses, but hobbies cannot. The Tax Cuts and Jobs Act kept the itemized deductions for allocable mortgage interest and property taxes. However, by...
Sep 21, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Hospitality, Medical Practices, Not-for-Profit, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
The IRS has revised Form 941, Employer’s Quarterly Federal Tax Return, to accommodate COVID-19-related employment tax credits granted under the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security Act. If you’re...
Sep 17, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Government Contracting, Hospitality, Medical Practices, Not-for-Profit, Private Equity-SBICs and Venture Capital, Real Estate, Tax News
The CARES Act was enacted in response to the COVID-19 pandemic. The act was specifically designed to provide funding to hospitals and health care providers that are not federal entities. Then, on July 22, 2020, the Department of Health and Human Services changed the...
Aug 31, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Hospitality, Medical Practices, Not-for-Profit, Private Equity-SBICs and Venture Capital, Real Estate
Late Friday, August 28, the IRS issued much-anticipated guidance on the payroll tax deferral that was ordered by President Trump in a presidential memorandum on August 8 (Notice 2020-65). The notice allows employers to defer withholding on affected employees’...
Aug 25, 2020 | Business Planning, Employee Benefit Plans, Featured News and Events, Government Contracting, Hospitality, MCB Happenings, Medical Practices, Not-for-Profit, Personal Financial Planning, Private Equity-SBICs and Venture Capital, Real Estate
MCB will host a virtual “meet and greet” where panelists will discuss the entrepreneurial journey and mindset, the demands on us during these unprecedented times, and how we can take advantage of this time to amplify our voices and continue to seek out...
