The Easy Way Never Pays Well
Here at Tembo one of the things we do best is help you save money, especially when it comes to taxes. We had a client who owned around 20 rental properties…
The Cost of Doing Things Incorrectly
What if ONE mistake ended up costing you $15,000 dollars? This is something that almost happened to one of our clients…
Yes indeed – even more questions, answered!
The CARES Act, SBA, and US Treasury have combined over the past three weeks to generate more questions than we’ve had to field in the last three years combined! Goodness! We’ll attempt to punch through these quickly for you. Stimulus Checks We are starting to hear that clients are receiving stimulus checks. If you haven’t…
Taking A Business From Loss To Profit
One client of ours had a service-based business with a business partner. They maintained separate parts of the business…
US Treasury answers some questions – finally!
As usual, this is a long blog. Sorry! There’s just so much to share with you. Take a few minutes and read through this please – it’s important stuff, especially if you haven’t filed your PPP loan application yet. It’s a gross understatement to say that the CARES Act and the Interim Final Rule lacked…
Stop Dreading Tax Season
Sometimes all our clients need is a little guidance. One of our clients switched from being a W2 employee to a 1099 sub-contractor and as a result we were able to create a business, specifically an S-Corporation for him.
Be Patient with the Banks and the PPP Loan Program
I was on the phone until almost 11pm last night talking with several different bankers about the PPP loan program. The US Treasury and SBA issued a 31 page “Interim Final Rule” (LOL – kind of an oxymoron, no?) yesterday afternoon at about 4pm. There are some clarifications in it, and a couple small changes:…
PPP Loan Do’s and Don’ts – Your questions answered
We’ve received a lot of questions the last couple days about PPP Loan Do’s and Don’ts. Here are some of the most common questions that we believe you all need to know about: Can I include my 2019 1099-MISC contractor payments in my “Payroll Costs?” Yes! The CARES Act has two subsections for the definition…
PPP Application & CARES Act- Tough Decision for Employers
We are very happy to inform you that the online application for the PPP loan has finally been published. Download Here COVID-19 and the CARES Act are putting employers in situations where solutions are unclear. We want to help bring some clarity to the table. Over the past few days, we have received a lot…
CARES Act has Passed!
Good news! Just in the last hour the House passed HR 748 – CARES Act and the President has signed it. The bill, as it pertains to small businesses, remained unchanged from. Here are the final terms: The maximum loan amount from a 4X factor to a 2.5X factor Rent and utility payments are included…