Month: June 2020
The CARES Act includes two important provisions related to retirement accounts: a suspension of required minimum distributions and a new exception to the early withdrawal penalty. Changes to Required Distributions Normally, taxpayers are required to take a distribution from their retirement plans when they turn 72 (70 ½ for...
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June 23, 2020 by Staff
From the Minnesota Department of Employment and Economic Development website: The Minnesota Department of Employment and Economic Development (DEED) will oversee the Minnesota Small Business Relief Grants Program approved by the Minnesota State Legislature and signed by Gov. Tim Walz on June 16, 2020. This program will make available $10,000...
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President Trump signed into law today the Paycheck Protection Program Flexibility Act, which addresses many concerns expressed by the business community. The Small Business Administration will need to update their guidance, but here are the highlights: Businesses have 24 weeks to spend the funds instead of 8 weeks to be...
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