Just wanted to provide a quick update on the firm and how to reach us, 2019 tax returns, SBA loans, payroll, sick leave, and stimulus checks. We’re very much available to discuss SBA loan programs, the CARES Act and FFRCA legislation, and the stimulus payments you’ve surely heard about.
How To Reach Us
We remain open and available for phone and video meetings.
Please call us at 253.234.5732 to schedule a time to have a phone or video call (via Zoom) with one of our CPAs.
While we can’t meet in person, Zoom has proven easy to use and a wonderful tool for staying connected. I really value the opportunity to see clients in person, and Zoom allows for a more personal and connected experience than the phone alone. We’ll even help you get started.
SBA Loan Programs
If you have a business, even if you don’t think of yourself as one (i.e. you’re a sole proprietor or independent contractor) then the SBA programs may still benefit you in big ways and help to keep you afloat while your business is either shut down or in slow motion.
Please go here to start that process:
The recent legislation is too big to really generalize about, and recommendations about what should I do are really on a case by case basis. Check the website for a summary of recent legislation and a few links and we’ll be adding some FAQs as time allows.
The IRS and Washington State have created and changed paid leave. Here are some resources to review.
- Washington State Mandates Paid Family and Medical Leave
- Resources Page from Paychex
- IRS Announcement on Coronavirus-related paid leave for workers and tax credits
CARES Act Economic Impact (aka Stimulus) Payments
Here are some resources if you are looking for more information about economic impact payments, IRS news releases, and other IRS information.
- Randy’s Examples & Summary Covering Stimulus Checks
- IRS Coronavirus Resources Page
- IRS unveils new People First Initiative: Suspends Compliance Program
2019 Tax Returns
If your return hasn’t been filed yet for 2019, please know that we haven’t forgotten you. We’ve been focusing these recent weeks on either (a) moving the company offsite to work remotely, adapting our processes accordingly, (b) trying to stay abreast of the mountains of new and historically monumental tax changes, and (c) working to prioritize the returns for those who have urgent and specific needs. Please realize that working as a distributed team has slowed down the processing time for returns as we adapt where possible to paperless processing, but that given the paper-heavy nature of much of the files it might just take extra time to work through the review and filing process. We don’t expect this to translate to any more billable time directly, but just the calendar timeline to get returns completed, reviewed and drafted out to you. Thank you for your patience and if you have specific needs for your return please reach out to us, otherwise we work on a queue system, much like a first in, first out.
In the interests of brevity I’ll stop there, but know that while we are continuing to work on returns we’re also working furiously to help with all clients who have questions about how this legislation affects them.
Until next time,