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Employee or Contractor? How to determine the correct classification with tax goals in mind

For many business owners, properly classifying workers can make a significant impact in their tax implications or other business expenses such as social security payments. When it comes to determining if a worker is an employee or independent contractor, understanding the key differences could help in reducing tax obligations and minimizing overpayment. Review the scenarios

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You have a PPP loan. Now what?

Since the Small Business Association’s Paycheck Protection Program (PPP) stopped accepting new applications in August 2020, many business owners who received a PPP loan are now asking: what’s next? Now is the time to begin preparing the loan forgiveness application and to remain vigilant on documentation requirements. While there are still many factors up in

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Pennsylvania Tax and Unemployment Bills – COVID-19

Amid COVID-19, the PA has changed the state tax deadline to align with the updated federal deadline of July 15, 2020. Pennsylvania has also enacted unemployment changes for eligible individuals and business owners, including: Unemployment eligibility requirements will be eased to support workers who have been impacted by the coronavirus. This includes waiving the one-week

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Small Business Resources – Loans and Guidance – COVID-19

As business owners face many new realities due to government-recommended closures and keeping their employees and customers healthy, several resources are available for support through the Small Business Association (SBA). Our tax pros are also available to help guide business owners on cash flow, updates to tax deadlines, loan options and more. Key Resources Economic

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Millions of Households to Receive Stimulus Assistance – COVID-19

As approved by Congress, a $2 trillion economic rescue plan includes payments to individuals, expanded unemployment coverage including self-employed and much more. Here is what you need to know: Most adults will receive a one-time payment of $1,200, although some will be less. Every child under 16 adds an additional $500. Check your adjusted gross

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