The PPP free-cash program to assist businesses during the COVID-19 pandemic is gaining traction and clarity. If you operate your business as a partnership, you have several recent developments that make the free-cash program more to your benefit. 1. Partner’s Self-Employment Income Creates Cash and Forgiveness Just as sole proprietors failed originally to ask for their PPP cash assistance, so did many partners. Three things to note here: The partnership (not the individual partner)...

Throughout the pandemic, we’ve seen a lot of things that have proven to be overrated or at least overused.  One word I’m personally sick of is “pivot.” Yes, it’s accurate, but so many people, especially business owners and managers, are using it these days… “Pivot” is tired.   But the ideas behind it – those are real.  For years, entrepreneurial coaches and speakers like Loral Langemeier and Ted McGrath have pretty effectively summed up the man or woman who opens...

There’s no denying how much the landscape has changed in the last three months. With the passing of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, though, some really nice tax breaks have been created and very few of them have gotten much press. I wanted to share some of those with you to make sure you and your business are able to make the most of them in this strange new world. First, charitable gifts from corporations, which are usually limited to 10% and any amount...

As we kick off the summer of 2020, many of us are dealing with the fact that life as we know it has changed dramatically.  Jobs lost or furloughed, schools and businesses closed indefinitely, and worry and questions continuing to arise about what the rest of the year holds for us all.  By now, many workers in America affected by COVID-19 have received their stimulus checks and questions about a second check are up in the air.  In the meantime, what are the smartest ways to...

I get it – a LOT of people continue to be nervous about the economy, investments, real estate – you name it.  …And we won’t even go into how they feel about how various governmental agencies around the world are re-opening the economy.  The House says this, the Senate says that.  The WHO says this, the CDC says that.  Georgia is wide open for business, New York is still practically locked down. Put it simply, there’s a lot of information and most of it is conflicting. ...

Look, let’s just be honest right now – people are struggling financially.  Yes, stimulus checks are continuing to go out and they are having an impact for millions of Americans. Despite that, times are still hard for a lot of folks, so today, I wanted to share some critical ways you can keep more money in your pocket and not negatively impact your overall financial situation.  Communicate.  Everyone around the world has been impacted, so if you’re struggling to pay a bill,...

I hate to say it, but the downturn we’re in, coupled with the massive wave of lay offs and furloughs in the wake of COVID-19, means a lot of people are struggling.  Stimulus checks are on their way, but many people are finding creative ways to uphold social distancing regulations and curfews or stay at home orders and still make money.  Here’s some really clever ways others are making money in these challenging times… Teaching.  Now, this might seem odd, especially if you...

You know, as the COVID 19 crisis was really beginning to hit us in March, corporate taxes were due.  Immediately after that, of course, the IRS pushed Tax Day back to July 15th.  Now, plenty of business owners filed for an extension, but I wanted to take a few minutes today to go over some of the self employment deductions we’re always getting questions about, to help you for 2020.  We’ve all got a little extra free time these days, so maybe this can help you to create the...

There’s a lot of talk these days about the economy slipping into a recession and while we are undoubtedly in a downturn, the simple fact is, the pandemic that we are battling has no precedent in modern times.  Business is often slow to react, while investors are often extremely reactionary.  The results, in this case, are a lot of worry, a lot of “paper” money lost, and a scarcity mindset amongst people in the media who are paid to make people worry. Yes, we’ve all seen losses...

Last week, I was sharing some insights about estate planning and some key takeaways anyone can use to ensure that their estate in not caught shorthanded or overtaxed when the time comes to settle it.  I’ve continued to follow that thread this week, because for many families, there is not only the so-called “interfamily loan” possibilities, but also, some really nice strategies that parents can create early in a child’s life that have little – or nothing – to do with estate planning. ...