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What you need to know about the Earned Income Tax Credit

In December 2020, Congress passed the “Taxpayer Certainty and Disaster Tax Relief Act of 2020,” which allows individuals to use their 2019 earned income instead of their earned income from 2020 to figure their Earned Income Tax Credit (EITC). This new lookback tax rule provides relief to the millions of Americans that lost their jobs…

employee retention tax credit

Increase Cash Flow with the Employee Retention Tax Credit

On December 27, 2020, the Consolidated Appropriations Act of 2021 (“The Act”) became law. This Act includes the second stimulus package to aid individuals and businesses affected by the pandemic. One provision small business owners should be aware of is the extension and expansion of the Employee Retention Tax Credit (ERTC).  What is the Employee…

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New SBA Federal Grants for Shuttered Venues will be available soon

New SBA Federal Grant for Shuttered Venues

What is the Shuttered Venue Operators (SVO) SBA Grant Program? The Shuttered Venue Operations (SVO) Grant program was established by the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venue Act which was signed into law on December 27, 2020, as part of the Consolidated Appropriations Act of 2021 (CAA). This legislation authorizes $15 billion…

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Targeted EIDL Grants

Economic Injury Disaster Loans (EIDL) and Targeted EIDL Grants

Economic Injury Disaster Loans The Consolidated Appropriations Act of 2021 (The Act) extended the Economic Injury Disaster Program until December 31st, 2021, or until funds run out. The SBA Economic Injury Disaster Loans (EIDL) loans are available to small businesses and non-profit organizations that suffer economic injury as a direct result of a federally declared…

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    Claudia Fierro-Poppen, Owner - Ommie Snacks
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