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Philip L. Liberatore, CPA Blog
Paycheck Protection Program
Yesterday, the Treasury Department released details about how small businesses can apply for the Paycheck Protection Program – which provides $349 billion in loans to businesses employing fewer than 500 people. To expedite the process, the loans will have same-day approval. CLICK HERE TO DOWNLOAD THE APPLICATION FORM Starting... Read MoreSmall Business Relief Quick Guide
Options to help small businesses through the Covid-19 Shutdown Small Business Assistance (SBA) Economic Injury Disaster Loan program, there are two programs SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small... Read MoreThe Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
On March 27, 2020, the United States Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), aimed at providing financial relief to the American people and American businesses in response to the economic fallout from the fast-developing coronavirus (COVID-19) pandemic. The measure provides direct financial aid to American... Read MoreLATEST RELIEF UPDATES
As we continue to navigate through the impact of COVID-19, we want you to know that you and your family are our top priority. We pray that you continue to stay safe and healthy. As the situation surrounding COVID‑19 rapidly evolves, we want to keep you informed of all the latest news updates and resources …An Encouraging Message from Phil & Dana Liberatore
As our country continues to fight this pandemic, we want to encourage you with a message from Phil & Dana Liberatore. We truly appreciate you and our thoughts and prayers are with you and your family. Thank you for being the best part of Philip L. Liberatore, CPA. Blessings, Philip L. Liberatore, CPA (562) 404-7996... Read MoreDisaster Relief for Business Owners
The world finds itself in an unprecedented time filled with anxiety, stress, and concern. We hope that you and your family are healthy and safe. Thank you for your flexibility and patience as we work together during the COVID-19 pandemic. As the situation surrounding COVID‑19 rapidly evolves, we want to assure you that Philip... Read MoreNew Tax Filing Deadline – July 15, 2020
As our country continue to fight this pandemic, we will continue to update you with pertinent information that may impact you or your business. As part of a growing effort to stem the financial pain from the coronavirus pandemic the IRS is extending the federal income tax filing deadline to July 15th without incurring penalties or... Read MoreDid You Pay Tax on Home Mortgage Debt Relief in 2018? You May Be Entitled to a Refund
Article Highlights: Appropriations Act of 2020 Cancellation-of-Debt (COD) Income Retroactively Extended Special Exclusion Home Affordable Modification Program (HAMP) Amended Return On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including retroactively... Read MorePhil Liberatore,CPA, Responds to IRS Challenges and Important Tax Preparation Tips for 2020
On January 2, 2020, The IRS announced the official date in which they will begin accepting individual income tax returns for the 2019 tax season. Tax season will officially commence on Monday, January 27th through April 15th. With tax season beginning in less than a week, many Americans can expect to encounter several challenges when …Above-the-Line Education Tax Deduction Reinstated
Article Highlights: Appropriations Act of 2020 History of the Deduction Other Education Expense Benefits Which Tax Break Provides the Best Benefit On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, among them retroactive extension of certain tax provisions... Read MoreConsultation
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