NEW Reemployment Tax Rates for Florida Businesses

A new law has changed the Florida reemployment tax rates for 2021. The new tax rates will be much lower for most Florida businesses and will apply to all wages an employer pays in 2021.  You can go to the Florida Department of Revenue’s website now to see your new reemployment tax rate for 2021. For instructions […]

Deadline to Pay Florida Unemployment Taxes Extended to May 31st

The deadline for Florida employers to pay their quarterly unemployment taxes to the state of Florida has been extended 30 days.  The payment was originally due April 30, 2021, but this deadline is now May 31, 2021.  Please note:  This extension only applies to the payment of unemployment taxes.  Employers must still file their unemployment […]

PPP Application Deadline Extended

The deadline for small businesses to apply for a Paycheck Protection Program (PPP) loan has been extended until May 31, 2021!  The program was supposed to end on March 31st, but the deadline has been extended so that more small businesses can apply for either a first or second PPP loan. ­The PPP loan program was […]

PPP Makes Changes to Help Small Businesses

The Paycheck Protection Program (PPP) was created in 2020 to provide financial assistance to businesses affected by the pandemic. The loans do not have to be paid back if a business complies with the program’s rules. This week, the White House announced several changes to the PPP loan program intended to help small businesses qualify […]

New Simplified Forgiveness Application For PPP Loans of $150,000 or Less

If your business received a PPP loan of $150,000 or less, you can apply for loan forgiveness using Form 3508S. You will not have to do any calculations or provide any supporting documentation (like payroll records or tax forms).­ The only information required is: Your PPP loan number. The amount of your PPP loan. Date […]

Another Round of PPP Loans Available For Businesses

The Paycheck Protection Program (PPP) loans are opening back up for businesses that already received a PPP loan as well as businesses seeking their first PPP loan. The US Small Business Administration began accepting applications for first-time PPP loans (also called “first draw” PPP loans) on January 11, 2021, and they will begin accepting applications […]

Paid Leave For COVID Expires At The End Of December

In response to the growing coronavirus pandemic, the United States Congress passed a law earlier this year requiring employers to provide at least two weeks of paid leave to employees if they cannot come to work for one of these reasons:  The employee has been quarantined by a health care provider or by government order.  […]

New Simplified Forgiveness Application for Small PPP Loans of $50,000 or Less

If your business received a PPP loan of $50,000 or less, you can use a new, one-page application to apply for forgiveness of your loan. This new simplified form, Form 3508S, requires fewer calculations and less documentation than the other two forgiveness applications.­If your PPP loan was $50,000 or less, you can use the new […]

PPP Loan Forgiveness Is Still Not Automatic

For the past few months, a bill has been pending in Congress that would automatically forgive PPP loans under $150,000. If this law is approved, small businesses who received a PPP loan of less than $150,000 would have their loan automatically forgiven without having to file the forgiveness application with their bank. As of today, […]

Voluntary Payroll Tax “Cut” Optional For Businesses

Under an Executive Order signed last month by the President, employers can defer collecting federal payroll taxes from their employees’ paychecks through the end of the year.  Businesses should understand that this is just a deferral of payroll taxes owed; it is not an elimination of the payroll tax. Any payroll taxes that are deferred […]