On August 24th, the SBA issued new guidance on the Paycheck Protection Program regarding owner-employee compensation and nonpayroll cost eligibility. Related Party Rent Limitation Per the PPP rules, borrowers must spend 60% of their forgiveness amount on payroll and 40% on other qualified expenses, such as rent. While these percentages haven’t changed, the new guidance aims to equalize the treatment… Read More
Archive for August, 2020
It’s Not Too Late to Reverse Your 2020 RMD
Earlier this year, the CARES Act injected our economy with over two trillion dollars to provide COVID-19 relief for business owners, individuals, and retirees. The CARES Act waived Required Minimum Distributions (RMDs) that were scheduled to be paid in 2020. If you have already taken your RMD, you have the ability to roll the money back into your retirement plan. … Read More
Six Ways to Regain Financial Balance
There has been a lot of talk about balance over the years. Is it truly attainable or simply a myth? The COVID-19 pandemic and restrictions which were placed upon us, forced us to slow down and assess how we have been living our lives. Do we want to resume our busy lives and overly scheduled calendars, or do we want… Read More