Has your small business taken advantage of one or more of the COVID-19 relief programs authorized by the American Rescue Plan for 2021? If so, you need to be aware of your potential tax liability for federal and state taxes. 2020 and 2021 were not typical tax years thanks to the trillions pumped into the… Continue reading Business Tax Ramifications From COVID Relief Measures
Category: COVID-19 Relief Series
The Post-COVID Business Pivot
Small businesses, particularly startups, frequently discover their initial business plan is not taking them where they want to go. That usually leads to several rounds of “tweaking,” but when that fails, they are faced with more existential decisions: persevere, quit or try something new. When there is a significant change in strategy, a business has… Continue reading The Post-COVID Business Pivot
How COVID has Affected Change: Post-COVID Innovation
The National Bureau of Economic Research (NBER) reported that the number of active business owners fell by 3.3 million—or 22 percent—from February to April 2020. COVID has been a once-in-a-lifetime economic disturbance that has impacted all businesses to one degree or another and throttled some companies altogether. When public policy tells the population, except for… Continue reading How COVID has Affected Change: Post-COVID Innovation
Business Ideas 2021: Post-COVID Opportunities For Business
For small business owners, there’s hope! This COVID-19 pandemic is leaving a trail of distress, and turmoil affecting the American population and disrupting the global business environment in unprecedented ways. However, if you are a small business owner there is some good news. History shows that after every extreme economic downturn, new opportunities arise. The… Continue reading Business Ideas 2021: Post-COVID Opportunities For Business
All About the Restaurant Revitalization Fund
The latest COVID relief bill includes help specifically for restaurants and similar businesses. If you are an owner of a small business in the foodservice industry, you may be eligible to receive benefits through this fund. In this post, we will answer some of the biggest questions people have about the Restaurant Revitalization Fund (RRF).… Continue reading All About the Restaurant Revitalization Fund
How To Re-Open Your Business Post-COVID
With more and more people getting vaccinated, COVID is seemingly becoming a thing of the past. With COVID, things haven’t been “normal” in so long that it might be somewhat tricky getting back into normal. Here are some tips on how to re-open your business post-COVID. How To Re-Open Your Business Post-COVID There are a… Continue reading How To Re-Open Your Business Post-COVID
California Opening Up: Get Your Business Ready
California is soon to start opening up the economy. Is your business ready? ASCEND is here to help you get prepared as California is starting to open up. At ASCEND, we offer small business advisory, tax services, accounting solutions to various other services, and everything in between. Our goal is to help your business thrive.… Continue reading California Opening Up: Get Your Business Ready
Coronavirus Update: The 2021 Stimulus Bill and Small Business
Congress — the House and Senate — passed the latest COVID relief bill. The package has assistance specifically for small businesses, with restaurants getting much-needed help. There is direct help to small businesses through additional funding for programs like the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans. Indirect relief through stimulus checks… Continue reading Coronavirus Update: The 2021 Stimulus Bill and Small Business
COVID and Small Business: What To Expect From Congress in 2021
We have a new Congress and a new President and his administration. What will that mean for your small business when it comes to help, assistance, and guidance from the government? Congress has held sessions with experts. The President is making this a priority in the face of this pandemic. In an address in January,… Continue reading COVID and Small Business: What To Expect From Congress in 2021
COVID-19 And Your Business Tax Returns (Tax Year 2020)
The global COVID-19 pandemic sent the entire world into an economic crisis. Some small businesses are feeling the effects of this more than others, but all US small businesses need to understand how the pandemic and resulting legislation might impact their 2021 business taxes for the 2020 tax year. How New COVID Laws May Affect… Continue reading COVID-19 And Your Business Tax Returns (Tax Year 2020)