The knowledge you need

Expanding retirement saving opportunities for American workers has been an ongoing priority for Congress over the past several years. The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, made significant and important changes designed to increase saving opportunities.

Since the start of the pandemic, many Atlanta area businesses and organizations have relied on the Paycheck Protection Program (PPP) as a source of needed working capital. Originally implemented as part of the CARES Act, it has become one of the most popular Small Business Administration (SBA) offerings likely due to the forgiveness feature.

Since the start of the pandemic, Atlanta businesses have endured an action-packed lineup of government orders which have changed how businesses operate. For some this has meant modified hours, reduced capacity limits, and more restrictions on how to interact with customers. No one has been hit harder than the restaurant industry as many have had to transition to pick up or delivery service.

Since the Paycheck Protection Program (PPP) was created as part of the CARES Act in March 2020, there have been 274,303 loans issued to Georgia companies totaling $8.5B.  Since the start of the pandemic, PPP loans have become increasingly popular, in part, because of the possibility of full loan forgiveness.

As the COVID-19 pandemic persists, Atlanta individuals, families, and businesses are feeling the impact of restrictive government orders and health mandates in schools, at work, and other public places. While the arrival of the vaccine has helped to curb the number of new infections, there is still much work to be done as Georgia has only distributed 67% of received doses. Over the coming weeks, many will line up to receive either the first or second inoculation and manage with the side effects.

The need for a robust cybersecurity program is essential to protect personally identifiable information (PII) such as social security numbers, taxpayer identification numbers, financial account information, credit card information, and even physical and email address. Cybercriminals are increasingly looking to exploit IT systems to capture high-value information that can be used or sold to criminals.

The American Jobs Plan is a $2.3 trillion piece of legislation designed to improve America’s physical and digital infrastructure while enhancing advanced manufacturing capabilities. Atlanta construction companies stand to benefit from the proposed investment through targeted projects such as new roads and bridges, airports, rail, seaports, and even additional workforce training.

For businesses substantially affected by COVID-19, the employee retention credit (ERC) has been one of the more valuable incentives to keep workers on the payroll. Since its inception in March 2020, the ERC has undergone several modifications and extensions which has increased the credit’s value. There was an initial extension for the first half of the year in the Consolidated Appropriations Act, 2021, (CAA) and then another through the end of the year in the American Rescue Plan Act. The changes are meant to provide additional relief to businesses challenged by the pandemic.

Since the American Rescue Plan Act of 2021 was signed into law last month by President Biden, there has been a flurry of changes coming out of Washington. This includes an extension to the Paycheck Protection Program application deadline, IRS extension of the individual tax filing deadline, an increase in EIDL maximums, and the introduction of the new American Jobs Plan.  All of this just months after the Consolidated Appropriations Act, 2021, (CAA) was passed at the end of December.

Since the American Rescue Plan Act of 2021 (ARPA) was signed by President Biden, there has been a flurry of changes and updates impacting individual taxpayers. Initially, attention was focused on the distribution of the $1,400 economic impact payment and shifted to other issues such as the 2020 tax exemption on certain unemployment benefits. Attention quickly changed when it was announced the IRS would extend the individual tax filing deadline by 32 days to May 17th.