The CARES Act allows taxpayers affected by COVID19 to borrow up to $100,000 from their IRA without tax or penalty. In this video we discuss who qualifies for this tax break, how you pay it back tax free and what happens if you can't or don't pay it back within...
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Tax Breaks From the CARES Act
The CARES Act (Coronavirus Aid, Relief, and Economic Security Act) included many tax breaks designed to get cash to individuals and businesses. In this video I discuss how the $1,200 per person checks will be sent out, calculated and how it will be reported on your...
July 15th is the New April 15th
In this article I cover the change in the income tax filing deadline for individuals, C-Corps and trusts and estates from April 15th to July 15th. This also applies to 2019 tax payments and 2020 tax estimates. I also cover how this affects 2019 IRA, HSA and employer...
SBA Proves Once Again That You Shouldn’t Count on the Government to Save Your Business!
Yesterday the SBA announced the long rumored changes to both the $10,000 grant and the Paycheck Protection Program that make both programs much less helpful to helping your business survive. In this video I discuss these changes and how you can only count on your...
Time for Business Owners to Get Creative!
First let me apologize for being missing in action for the past week. Have been helping my clients submit their applications for the Payroll Protection Program loans to the banks. So far I have prepared 47 loan requests totaling $4,407,087. During this last week I...
How to Get a Corona virus Emergency Small Business Loan AND Get it Forgiven
In this video I discuss how to start the process to get an SBA guaranteed loan and what you need to do to have it forgiven. Also have the help offered by the City of El Paso. Here is the link to the SBA site to start the loan process and to get the $10K emergency loan...
Info for clients–Operational Changes due to Corona-Virus
Dear Clients, In accordance with recommendations from the Centers for Disease Control, the State of Texas, and the City of El Paso, to assist in controlling the spread of COVID-19, Wayne J. Belisle, CPA LLC is substantially reducing our in-office work effective...
My Business is in Trouble–What Now?
There is little doubt that, even with government assistance, the country is heading into a Corona-Virus recession. One mistake almost all small business owners make is waiting too long to decide that they have a problem! This further complicates their recovery...
Profit Rules During the Corona Virus Recession
Whether these new businesses (and all current business owners) survive or not will depend on their acceptance of the following new rules of business: - You must commit to becoming a marketing expert. - You must commit to marketing that has measurable results....
Running Your Business During Corona-Virus
Today I discuss what you should be doing if your business is not one of the businesses forced to shut down because of the Corona-Virus.