Child Tax Credit 2021
Assume for a moment, you have a 14 year old child. Here are the two options the IRS is giving you to claim the child tax credit in 2021: Option A: Receive a $3,000 child tax credit when you file…
Tag COVID-19
PPP Changes & Round 2 Availability
As seems to be the ongoing trend….the Paycheck Protection Program (PPP) has changed again. Here’s what we know as of now! The Biden administration announced new rules, changing eligibility for self-employed (schedule C) businesses. PPP loans can now be based…
PPP Reopens the Week of January 11
The Paycheck Protection Program is reopening for applications again today. Please review the important information below outlining updates to the Paycheck Protection Program. If you would like BakerStarrett’s assistance determining eligibility and applying for a PPP loan (this is a…
What’s In The COVID Relief Bill: Businesses
DISCLAIMER: The information below is based upon the most recently proposed legislation by Congress known as the COVID Relief Bill. This bill has not yet been signed or approved by the Office of the President as of the date of…
What’s In the COVID Relief Bill: Individuals
DISCLAIMER: The information below is based upon the most recently proposed legislation by Congress known as the COVID Relief Bill. This bill has not yet been signed or approved by the Office of the President as of the date of…
Iowa Farm & Business Grants/Relief Programs
As the coronavirus continues to affect our country, state and communities – Iowa continues to enact varying levels of relief for farmers and businesses that are facing uncertain times. If you’ve been impacted by this recent outbreak, there are a…
PPP Forgiveness Next Steps
The Paycheck Protection Program has provided vital funds to many of our clients during these challenging times. We’re so very grateful that we’ve been able to assist with securing these loans. Unfortunately, over the past 2 weekends the SBA has…
Agricultural businesses are now eligible to apply for the SBA EIDL Loans
If you own an agricultural business that has been impacted by the COVID-19 pandemic, consider applying for the EIDL (Economic Injury Disaster Loan and Advance). The SBA opened up a special application period for agricultural businesses on May 4th, 2020.…
IRS offers more flexibility on cafeteria plans, FSAs, dependent care assistance in response to coronavirus
The IRS issued regulations on Tuesday, 5/12/2020 that could impact your health insurance plan, health flexible spending accounts (FSA’s), and dependent care assistance. There are two broad changes that you may hear more about in the coming weeks: The IRS…
I received my PPP loan….now what?
First, congratulations! Iowa, and the Midwest in general, were lucky to have a great amount of funding for eligible businesses requested and received. Many other areas of the country were not as fortunate! Now, down to the good stuff: as…