COVID-19 Archives | Financial Accounting Services
Pandemic Unemployment Assistance (PUA)

Pandemic Unemployment Assistance (PUA)

Temecula Wine Country is a very popular tourist destination. Many self-employed business owners, gig workers and independent contractors have had business grind to a painful halt. The financial strain has been significant but traditionally folks in this category would...
Employee Retention Credit (ERC)

Employee Retention Credit (ERC)

  The Employee Retention Credit is a fully refundable credit against an employer’s payroll taxes for wages paid from March 12, 2020 through December 31, 2020. However, this is not an advance of funds so may not help cash strapped businesses. This credit is not...
EIDL vs. PPP Loan

EIDL vs. PPP Loan

  An EIDL is a loan of up to $2 million with a maturity of up to 30 years that’s designed to help carry businesses through tough times caused by a disaster, such as the COVID-19 pandemic.
Paycheck Protection Program Loans FAQ

Paycheck Protection Program Loans FAQ

To address borrower and lender questions concerning the implementation of the Paycheck Protection Program (PPP), the SBA and Department of the Treasury has issued this additional guidance in the form of FAQs. Of particular interest: Question #7: The CARES Act excludes...
Coronavirus Legislation Update

Coronavirus Legislation Update

Wednesday night, the Senate passed the anxiously awaited relief bill aimed at providing emergency relief to individuals, businesses and institutions in order to prop up the US economy in this time or crisis. The Senate passed the legislation 96-0 and the bill now...