Protect Your Small Business This Hurricane Season

This article was published by the SBA. With 30 named storms, the 2020 Atlantic hurricane season was one of the most active and costliest on record. The 2021 Hurricane season starts on June 1 but it’s never too early to prepare. Damage from a hurricane can be costly for small businesses and can pose hazards …

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Here’s Who Will Get Advance Payments of the Child Tax Credit

https://www.youtube.com/embed/KMe3q9N5UHY Recent changes to the Child Tax Credit mean that more than 30 million households will begin receiving monthly payments this July without any further action. Eligible families will receive payments of up to $300 for each child younger than age 6 and up to $250 for each qualifying child ages six to 17.  People …

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Work Opportunity Tax Credit

This article was published by the IRS. The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers for hiring individuals from certain targeted groups who have consistently faced significant barriers to employment. WOTC joins other workforce programs that incentivize workplace diversity and facilitate access to good jobs for American workers. The Consolidated Appropriation …

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SBA Launches $100M Community Navigator Pilot Program

This article was published by the SBA.   The U.S. Small Business Administration (SBA) is now accepting applications for its new Community Navigator Pilot Program. This new initiative, established by the American Rescue Plan, will leverage a community navigator approach to reach our nation’s smallest businesses, with a priority focus on those owned by socially and economically disadvantaged individuals, as well as women and veterans. SBA will …

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The Pay Faces of Small Business

https://www.youtube.com/embed/hZgta5FC8qQ After small owners put in the work and send out the invoice, their faces can't help but show it when the payment hits. That's called their "pay face." Learn how QuickBooks Payments can help you get paid twice as fast and keep the Pay Faces coming. Utilize QuickBooks Payments invoicing to paint a clearer …

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Taxpayers Shouldn’t Believe These Myths About Federal Tax Refunds

This article was published by the IRS.  Now that many taxpayers have filed their federal tax returns, they're eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers. Getting a refund this year means there's no need to adjust withholding for 2021. To help avoid …

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Common but Costly Errors Employers Should Avoid When Filing Taxes or Claiming Credits

This article was published by the IRS.  Employers filing employment tax returns and claiming an employer tax credit should read the instructions for Form 941 and carefully complete the form to avoid mistakes. Using a reputable tax preparer, including a certified public accountant, enrolled agent, or other knowledgeable tax professional, can also help avoid errors. Mistakes can result in a processing delay …

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Multilingual Resources on IRS.gov

https://www.youtube.com/embed/kWysQz_KNJ8 The IRS is committed to making sure there are resources available to help all taxpayers understand their tax obligations. IRS.gov has information for people who are not comfortable interacting in English. Many of the most-visited pages, forms, instructions, and interactive tools on IRS.gov are also available in Spanish. Additionally, taxpayers can find information in …

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Educators Can Now Deduct Out-of-Pocket Expenses for COVID-19 Protective Items

This article was published by the IRS. Eligible educators can deduct unreimbursed expenses for COVID-19 protective items to stop the spread of COVID-19 in the classroom. COVID-19 protective items include, but are not limited to: face masks;disinfectant for use against COVID-19;hand soap;hand sanitizer;disposable gloves;tape, paint or chalk to guide social distancing;physical barriers (for example, clear …

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Update on Targeted EIDL Advance

This article was published by the SBA.  Effective immediately, applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined to the following email address: TargetedAdvanceReevaluation@sba.gov. Applicants should follow these instructions when requesting a reevaluation: Send an email to TargetedAdvanceReevaluation@sba.govUse the subject line “Reevaluation Request for [insert your 10-digit application …

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