COVID-19 Resource Center
Gordon Advisors is here to offer guidance and keep you informed during the novel Coronavirus (COVID-19) Pandemic.
SBA lenders are now accepting applications for the Paycheck Protection Program, which provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
Despite the Coronavirus downturn, investors can realize potential tax saving opportunities through professional consultation and well-calculated estate planning strategies.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act waives all required minimum distributions for 2020, regardless of whether the taxpayer has been impacted by the pandemic.
One of the most important changes from the Tax Cuts and Jobs Act (TCJA) is the new qualified business income (QBI) deduction for pass-through entities. The TCJA allows a deduction up to 20% for qualified business income from partnerships, S corporations, or sole proprietorships.
Employee recruiting and retention can be very competitive, with applicants able to compare compensation and benefits with a simple Google search. Companies with above average benefits are often able to find and retain above average employees.
The IRS blocked $2.7 billion in fraudulent tax refunds in 2019, including tax-related scams targeting small businesses involving identity theft and fraud. According to a BBB survey, 67% of participants believe they are more at risk of business scams than they were three years ago.
For construction, it is becoming increasingly difficult to attract and retain qualified tradespeople, as other career opportunities promise higher wages, better benefits, safer environments and less physically demanding work than that of a construction worker.
Section 529 plans allow gifts to be made five years ahead all at once, allowing grandparents to gift up to $150,000 per grandchild at once for the next five years. These contributions allow a reduction in the contributor’s taxable estate without gift taxes, assuming no other gifts were made during that time.
Gordon Advisors is here to offer guidance and keep you informed during the novel Coronavirus (COVID-19) Pandemic.