Posts Tagged ‘Virginia’
For Individuals: New COVID-19 Federal Assistance – CARES Act
The Cares Act, passed March 27, 2020, provides economic relief to individuals to help families cope with the financial impact of the pandemic. Below follows a summary of the provisions, with more to come as details unfold. Provisions for Individuals Retirement Plans Withdrawals no 10% penalty on early withdrawals up to $100,000 for coronavirus-related distributions.…
Read MoreFairfax County Help For Businesses due to Covid-19
Business Tax provisions
Employers are eligible for a 50 percent refundable payroll tax credit on wages paid up to $10,000 during the crisis. It would be available to employers whose businesses were disrupted due to virus-related shutdowns and firms experiencing a decrease in gross receipts of 50 percent or more when compared to the same quarter last year. The credit…
Read MoreLatino Economic Development Corp – Tax Planning and Reporting for Small Business
March 19, 2020 Jennifer Eubanks Presentation, with Rod Johnson of the Small Business Administration – Latino Economic Development Corp – Tax Planning and Reporting for Small Business
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