CARES Act Archives - Gumbiner Savett

What the President’s payroll tax deferral means for businesses
Gallery
What the President’s payroll tax deferral means for businesses

Articles, Blog, CARES Act, COVID 19

What the President’s payroll tax deferral means for businesses

By Gumbiner Savett Editor|2020-09-10T22:18:35+00:00September 3rd, 2020|Categories: Articles, Blog, CARES Act, COVID 19|Tags: CARES Act, Gumbiner Savett COVID-19|

The President's four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people were taken in an effort to offer more relief due to the COVID-19 pandemic. The action defers the taxes, which means they’ll have to be paid in the future.

Businesses should be aware of the potential tax implications of PPP loans
Gallery
Businesses should be aware of the potential tax implications of PPP loans

Business Advice, CARES Act, COVID 19, Paycheck Protection Program, Tax Planning

Businesses should be aware of the potential tax implications of PPP loans

By Gumbiner Savett Editor|2020-08-21T22:52:37+00:00August 21st, 2020|Categories: Business Advice, CARES Act, COVID 19, Paycheck Protection Program, Tax Planning|Tags: CARES Act, Gumbiner Savett COVID-19, IRS, paycheck protection program|

Understanding CARES Act and PPP If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. The Coronavirus Aid, Relief and Economic Security (CARES) Act, which was enacted on March 27, 2020, is designed to [...]