Parsons CPA

Final Application Deadline Alert and New PPP Guidance, FAQ #49

PPP Application Deadline   June 30 is the final deadline for applying for a PPP loan, but borrowers need to move quickly because lenders will need time to try to get applications into the SBA system before midnight Tuesday.  Some lenders already have stopped accepting applications. The SBA lender match tool, available on the SBA website, […]

Tax Filing and Tips

Regulated Investment Company (RIC) Shareholders can take deduction 199A for Real Estate Investment Trust (REIT) Dividends

A regulated investment company (RIC) that receives qualified real estate investment trust (REIT) dividends will be able to report dividends the RIC pays to its shareholders as Sec. 199A dividends under final regulations issued by the IRS on Wednesday. What you need to know: Deduction of up to 20% of income from a domestic business […]

Advisory and Business Consulting Business Accounting PPP Loans Small Business Relief

Parsons’ Senior Manager and CPA, Jonathan Dean, navigates the PPP at the Coffee Break Podcast

Watch above, as our Senior Manager and CPA, Jonathan Dean, navigates the PPP with Chad Lingafelt at The Coffee Break Podcast. The Payroll Protection Program has been a great yet challenging resource for Small Businesses. The PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the […]

Retirement Planning Tax Relief

2020 Required Minimum Distribution Reversal

The IRS is providing relief to taxpayers who had already taken RMDs in 2020 before the CARES Act suspended the RMD requirement in response to the coronavirus pandemic and its effect on taxpayers and the stock market. What you need to know: Anyone who already has taken an RMD in 2020 from certain retirement accounts […]

Parsons CPA PPP Loans Small Business Advice Small Business Relief Tax Relief

New Federal Reserve Stimulus Programs Explained

Main Street Lending Program Small and medium-sized businesses are finally getting some much-needed help from the Federal Reserve. The main street facility is the latest of the Fed’s measures to support the economy through this crisis. Some investors believe that the monetary and fiscal backstop will help the economy recover enough to keep the stock […]