News from January 2021

EIDL Grants and Loans are Open

Economic Injury Disaster Loans and Grants ran out of money appropriated by the CARES Act.  The latest recovery bill signed in late December will bring them back. You can now apply on the SBA website HERE. When the program began, the SBA announced the grants would be...

87th Texas Legislature: Meet Your State Representatives

The Texas House of Representatives has 150 members, each representing about 190,000 Texans in the Legislature. A part of Arlington is included in the district of five state representatives: Jeff Cason, Matt Krause, Tony Tinderholt, Chris Turner and David Cook.  If you...

Congress Reopens and Modifies the PPP for Small Business

Congress made changes to the PPP loans in the end of year Pandemic Relief Package.  If you received a PPP loan four major changes impact you: The regular business expenses paid with the PPP proceeds will be tax-deductible. While only 40% of PPP proceeds can be used...

Congress Expands Employee Retention Tax Credit

The year-end pandemic relief bill expanded the employee retention tax credit beginning January 1, 2021.  The prior credit was limited to $5,000 per employee.  The expanded credit can apply to up to $14,000 per employee. Under the previous rules, an employer had to...