DMJ & Co., PLLC News & Notes

DMJ & Co., PLLC News & Notes

Monthly E-Newsletters

Tax Blast: How to Apply for A Small Business Disaster Loan

One of the most interesting facets of the relief bill for businesses is the ability to get a “paycheck protection loan” under SBA Section 7(a), designed for employers with under 500 employees. The Act provides about $350 billion for this purpose. The loan is administered by your local bank but guaranteed by the SBA. All small employers are eligible, including nonprofits and sole proprietors.

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Tax Blast: The Coronavirus Aid, Relief, and Economic Security Act

Wednesday night, March 25, the Senate overwhelmingly passed the CARES Act which will provide over $2 trillion in relief to individuals and businesses. The House must pass and the President must sign the bill before it becomes law, both of which are currently projected to occur on Friday, March 27. Here are the key business provisions as it currently stands in the Senate’s version of the bill that has passed. Reminder – these provisions are not law yet and are subject to change.

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A Message from DMJ & Co., PLLC Regarding COVID-19

As counties across North Carolina announce stay-at-home orders and with these updated government directives underway, we want to keep you informed of our plan for business continuity as we continue to move forward. It is important to note that financial services are identified as a critical industry sector and accounting is identified as an essential business in many counties.

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TAX ALERT: Tax Issues in the Families First Coronavirus Response Act

On March 18, 2020, the President signed the “Families First Coronavirus Response Act” (HR 6201) (“the Act”) to provide some relief from the economic effects of the current outbreak. Many of these benefits to employees are the responsibility of the employer, and tax credits are granted to help offset some of these costs.

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March 2020

DMJ & Co., PLLC’s March newsletter includes a Coronavirus update, articles, market updates, news and notes, and more.

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DMJ Wealth Advisors Market Update: Coronavirus

Since China first alerted the World Health Organization (WHO) on December 31, 2019, the spread and impact of the Coronavirus has evolved rapidly. By January 30th, the WHO declared the coronavirus a global emergency and now the world is grappling with the potential impact of this disease. As such, we wanted to offer a few updates and links to further educate and provide perspective of this developing event.

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TAX ALERT: Potential Additional Tax Relief for Hurricane Florence Victims

On 12/20/2019, the President signed The Further Consolidated Appropriations Act (H.R. 1865), which included several bills. Included in the omnibus spending legislation was the “Taxpayer Certainty and Disaster Tax Relief Act of 2019” (the “Disaster Act”, for short). Most counties in Eastern North Carolina were declared a Major Disaster Area by the President following Hurricane Florence.  Previously, there was limited tax relief for victims of Hurricane Florence.  With the changes to the tax law in late December, the provisions below could provide you with some additional tax benefits for 2018.

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February 2020

DMJ & Co., PLLC’s February newsletter includes articles, market updates, news and notes, and events.

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