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Newsletter Archive

Employee Benefit Advisor – Fall 2020

The Coronavirus, Aid, Relief, and Economic Security (CARES) Act signed on March 27, 2020, contained several provisions related to eligible retirement plans. Some of the provisions are options such as the distribution and loan provisions while others are mandatory, namely the waiver of 2020 required minimum distributions…

Blog Post

Seattle Payroll Tax Effective January 1, 2021

On July 6, 2020, the Seattle City Council passed Council Bill (CB) 119810 implementing a variable-rate payroll tax or ‘payroll expense tax’ that applies to businesses with $7 million or more of payroll expense in the most recent calendar year. The tax is intended to assist with the affordable housing crisis, homelessness, and now the COVID-19 pandemic…

Newsletter Archive

Client Advisor – Fall 2020

We hope that you and your loved ones are safe as you deal with the current COVID-19 crisis. What an incredibly difficult year this has been! This most recent tax season was unlike any we’ve ever experienced. We are reaching out today to discuss some opportunities that should be addressed sooner rather than later for 2020 tax planning…

Shannon Alert

Alert! Anticipated Major Changes to PPP Finally Here

The Paycheck Protection Program created by CARES has been a key piece of relief for businesses impacted by Covid-19. However, the SBA and Treasury’s 8-week limitation to use the funds and 75% requirement to spend the funds only on “payroll costs” (as defined) has caused unnecessary hardship for businesses already hurting and which are greatly in need of funds. Learn more here.

Blog Post

How Scammers Are Faking WA Unemployment Claims (And What You Can Do About It)

There have been many reports about false unemployment claims being filed for people that are still employed and did not initiate the process. It’s been reported that there have been “hundreds of millions of dollars” lost to fraudulent claims so far in WA State alone. This post provides information you will need, helpful links, and additional steps you can take.

Shannon Alert

SBA and Treasury Release PPP Loan Forgiveness Application and Instructions

Friday the U.S. Small Business Administration, in consultation with the U.S Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application. The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).