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furlough

Furloughs/Layoffs Affecting Employee Benefit FAQs

According to a recent survey by CNBC, 22% of U.S. businesses have been forced to lay off workers or employee furloughs as a result of the novel coronavirus (COVID-19) crisis. Although most employers regard these actions as a last resort, it's…
unemployment benefits

Your Unemployment Benefits Will be Taxed

The economic impact of the COVID-19 has been enormous.  Some estimates suggest over 30 million Americans have filed for unemployment benefits as a result of this economic impact. Normally when applying for unemployment, you would be eligible…
remote workers

Boosting the Productivity of Remote Workers

Even while conditions in some states have improved enough to allow some workers in exile to begin returning to their workplaces, life isn't likely to return to normal for a long while, thanks to the novel coronavirus (COVID-19) crisis. First,…
pivot strategy

Can Your Business Survive/Thrive in These Trying Times?

The novel coronavirus (COVID-19) pandemic has caused difficulties for millions of businesses — from family-owned restaurants and niche manufacturers to multinational airlines and oil companies. As the economy slowly reopens across the country,…
Health Savings Accounts

IRS releases 2021 amounts for Health Savings Accounts

The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA basics An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account…
loan forgiveness applications

Get a PPP loan? Forgiven expenses aren’t deductible

The IRS has issued guidance clarifying that certain deductions aren’t allowed if a business has received a Paycheck Protection Program (PPP) loan. Specifically, an expense isn’t deductible if both: The payment of the expense results…
student loan interest

Student loan interest: Can you deduct it?

The economic impact of the novel coronavirus (COVID-19) is unprecedented and many taxpayers with a student loan have been hard hit. The Coronavirus Aid, Relief and Economic Security (CARES) Act contains some assistance to borrowers with federal…
economic impact payment

Economic Impact Payments less than you expected?

Nearly everyone has heard about the Economic Impact Payments (EIPs) that the federal government is sending to help mitigate the effects of the coronavirus (COVID-19) pandemic. The IRS reports that in the first four weeks of the program, 130…
social media strategy

Attuning your social media to the pandemic

Social media strategy for business: Your time has come. That’s not to say it wasn’t important before but, during the novel coronavirus (COVID-19) pandemic, connecting with customers and prospects via a popular platform is essential to maintaining…