CARES Act Rules for IRAs, RMDs & the August 31 Deadline

Retirees over the age of 70 ½ might be struggling to make sense of the new regulations with the passage of the SECURE Act at the end of 2019 and the current CARES Act. These new regulations may be confusing for retirees in regard to required minimum distribution (RMD) rules. The SECURE Act passed last […]

IRS Rules on Deductions & Expenses Regarding Your PPP Loan

Have you considered taking a deduction on your expenses paid with PPP funds? While it might be tempting, the IRS considers this double-dipping. Standard business deductions are not allowed by the IRS if payment of those expenses also results in PPP loan forgiveness. Under the CARES Act, PPP loans for small businesses can be totally […]

The PPP Loan Program Extended

The Paycheck Protection Program (PPP) resumed accepting applications on July 6th, following the President signing the program’s extension over the July 4th weekend. According to the Small Business Association (SBA), approximately $130 billion allocated for PPP was left untapped once the original June 30th deadline expired. Small businesses now have an additional five weeks to […]

IRS Expands Eligibility on COVID-19 Distributions from IRAs

The IRS expanded its guidelines on June 20th with Notice 2020-50 that allows additional qualified individuals to take a coronavirus-related distribution (CRD) while avoiding the usual restrictions on early IRA distributions. Under the CARES Act, qualified individuals may receive favorable treatment for IRA distributions up to $100,000 from eligible retirement plans (i.e. 401k/403b and 457s) […]

Spiegel Joins National Lending Experts

The National Lending Experts (NLE) recently announced Jeff Spiegel as the CPA/Business Advisor, and newest member, of its Advisory Board. Jeff accepted the invitation to contribute to the NLE network and offer leadership in the areas of tax, accounting, audit, and business consulting. The NLE established itself to provide core leadership and guidance by offering […]