If you own a business jointly with others, we recommend you establish an owner buy/sell agreement which governs what happens in situations, such as disability or death of an owner or an owner wants to dispose of their ownership interest.
In the last three weeks, two major pieces of stimulus legislation have been signed into law. Both acts provide opportunities for small businesses, but also require additional tracking for proper reporting.
The business and tax environment has become increasingly complex. Most business owners cannot maintain the expertise necessary to ensure compliance in all tax disciplines.
The Families First Coronavirus Relief Act (FFCRA) was signed into law last week and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law this afternoon.