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With 15-yr Refi Rates at 2.95%, It May Be Time To Talk To Your Lender

Submitted by Debra Rodway on Thu, 2020-05-28 14:25

 

Although you've no doubt been very busy implementing all the new safety procedures, re-figuring your financial projections, cutting expenses, and taking good care of your employees, it's a good idea at this time to also take stock of your personal expenses.

If you didn't refinance your home mortgage when the rates reached historic lows, you may want to take a look at what you might gain now by refinancing.

Today's average 30-year fixed-refinance rate is 3.67%. At this rate, you’ll pay $458.59 per month in principal and interest for every $100,000 you borrow. 

Employers May Defer Payment of Certain Payroll Taxes

Submitted by Debra Rodway on Tue, 2020-05-05 09:25

 

 

The CARES Act allows employers to defer the deposit and payment of the employer's share of Social Security taxes and self-employed individuals to defer payment of certain self-employment taxes.

PPP Loan Forgiveness: What Borrowers Can Do Now

Submitted by Debra Rodway on Fri, 2020-05-01 16:55

 

Now that small businesses and organizations are starting to receive Paycheck Protection Program (PPP) funding, attention has turned to the next and most vital phase: loan forgiveness. If borrowed funds are spent as intended on payroll, mortgage interest, rent and utilities in the eight weeks after receipt, those expenditures are potentially eligible for complete, tax-free forgiveness.

$320 Billion Additional Funding for PPP Signed By President Today!

Submitted by Debra Rodway on Fri, 2020-04-24 15:00

 

 

Today the President signed a $484 Billion bill that provides $320 Billion in new funding for the Paycheck Protection Program.  It also includes $75 billion for hospitals, $25 billion for coronavirus testing and $60 billion for the Small Business Administration’s Economic Injury Disaster Loan program.

The SBA expects to start taking applications for the second round of funding for the Paycheck Protection Program on Monday, according to SBA Region 5 Director Rob Scott.

Today IRS Unveiled New Tool For Taxpayers To Find Out When Their Check Will Arrive

Submitted by Debra Rodway on Wed, 2020-04-15 12:20

The Internal Revenue Service today unveiled the new Get My Payment with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information.

With an initial round of more than 80 million Economic Impact Payments starting to hit bank accounts over the weekend and throughout this week, this new tool will help address key common questions. Get My Payment will show the projected date when a deposit has been scheduled, similar to the “Where’s My Refund tool” many taxpayers are already familiar with.

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