IRS sending prepaid debit card

  Millions of people will get their Economic Impact Payment by prepaid debit card. Nearly four million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of who will receive a debit card was by the Bureau of the Fiscal Service, another part of the Treasury Department that works with the IRS to handle distribution of the payments. These Economic Impact Payment Cards will arrive in a

5 Things Your Business Needs to Do Now!

  5 Things Your Business Needs to Do Now! Navigating COVID-19 pandemic requires an accurate financial picture. With the COVID-19 pandemic dominating the news and creating havoc in many sectors of the economy, companies are going to need to be on their “A” game to survive and thrive. Here are five essential tasks to help you do this. 1. Bring financial statements up to date A clear understanding of your company’s current cash flows, revenues,

Pandemic Unemployment Assistance is set to launch May 12

Pandemic Unemployment Assistance is set to launch May 12. Applications will start processing the week of May 12 and payments will begin for eligible claimants that same week. The Arizona Department of Economic Security (DES) announced today it has acquired the services of Geographic Solutions Inc. to implement a Pandemic Unemployment Assistance program system and get assistance to Arizonans faster. Pandemic Unemployment Assistance On March 27, 2020, President Trump signed into law the Coronavirus Aid,

Three credits available for businesses

Three credits available for businesses. Three new credits are available to many businesses hit by COVID-19. Employee Retention Credit: The employee retention credit is designed to encourage businesses to keep employees on their payroll. Also, the refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. Qualifying employers must fall into one of two categories: The employer’s business is fully or

So You Got Your PPP Loan. What’s Next?

So You Got Your PPP Loan. What’s Next? You just got the email that your Paycheck Protection Program (PPP) loan was approved—congrats! Getting this far is a major accomplishment and warrants some serious celebration (homemade frosé anyone?). But being approved for a loan is just the start of your PPP journey. Now, it’s time to strategize how you’ll use the funds to keep your business going while ensuring that you qualify for loan forgiveness. Below, we’ve put

Review IRA Beneficiaries Now

Review IRA Beneficiaries Now. Lost in the pandemic is a tax law change that may require your attention Lost in the media storm during the coronavirus pandemic is a law change enacted in late 2019 that eliminates an IRA withdrawal technique known as the stretch IRA. Here is what you need to know: Time to review beneficiaries While the chances of you having a severe reaction to the coronavirus are low, it is a reminder of

Payments to deceased taxpayers

Payments to deceased taxpayers. First, we want to express our apologies that you are even having to deal with this. We just received information about what to do with Economic Impact Payments (EIP) made to deceased taxpayers. Below is the guidance from the IRS. The information has posted May 6, 2020 to the EIP page on IRS.gov. Does someone who has died qualify for the Payment? No. A Payment made to someone who died before

The 3 Rules of Cash

  The 3 Rules of Cash A COVID-19 pandemic reminder. To keep your business solvent through the COVID-19 pandemic, stay focused on the 3 rules of cash: 1) Now versus later. Cash now is better than cash later. Decreasing cash flow for many of your customers means you’ll likely have trouble collecting 100% of your accounts receivable in the short term. But don’t overlook clients whose cash flow or revenue has yet to be dramatically affected

Small Businesses: ACT NOW!

Small Businesses: ACT NOW! New Funds are Available. Act fast to get your slice of additional SBA funds. An additional $484 billion in COVID-19 small business assistance is now available, including $310 billion in new money for the Small Business Administration’s (SBA) Paycheck Protection Program. Get your Paycheck Protection Program (PPP) loan application in now If your business has not already done so, you need to get your Paycheck Protection Program (PPP) loan application in

Honoring Arizona’s Front Line COVID-19 Responders

Honoring Arizona’s Front Line COVID-19 Responders. Luke Air Force Base, to include the 56th Fighter Wing and the 944th Fighter Wing, along with the Arizona National Guard 161st Air Refueling Wing will honor Arizona’s front line COVID-19 responders with a community flyover May 1, 2020. “We are honored to extend our heartfelt gratitude to all the healthcare workers, first responders, military members and other essential personnel who are working on the front lines to combat