Posts by Taylor Hughes
Consultant’s Corner: The Paycheck Protection Program and the Self-Employed
Q: In regards to the Paycheck Protection Program, what is the difference between a sole proprietor, an independent contractor, and a self-employed individual? As an independent contractor or a self-employed individual, am I eligible for a PPP loan? When can I apply? In our previous blog post, we discussed the differences between Economic Injury Disaster…
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Consultant’s Corner: Economic Injury Disaster Loan vs. Paycheck Protection Program
Q: What is the difference between the SBA Economic Injury Disaster Loan Program and the Paycheck Protection Program? Can I apply for both? In our previous blog post, we discussed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the SBA Economic Injury Disaster Loan (EIDL) program, and the Families First Coronavirus Response Act (FFCRA).…
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Consultant’s Corner: Coronavirus Financial Relief for Small Businesses
Q: As a small business owner, what do I need to know right now regarding COVID-19 and financial relief for small businesses? Small business owners should be aware of the Federal government’s pending Coronavirus Aid, Relief and Economic Security (CARES) Act, the SBA Economic Injury Disaster Loan program, and the Families First Coronavirus Response Act…
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Consultant’s Corner: Tax Reporting Changes for Employers Engaging Independent Contractors
Q: Is it true that tax reporting is going to change for businesses that engage independent contractors? Under current tax law, businesses report cash and check payments for services rendered by non-corporate vendors, such as qualified independent contractors, on Form 1099-MISC, which is filed annually and, in the case of services, only when payments total…
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Consultant’s Corner: Considerations for Engaging Independent Contractors
Q: I’m thinking about engaging an independent contractor. What do I need to know before I start? It is important to understand that there is no worker classification known as a “1099 employee.” Workers are either classified as employees or independent contractors. Compensation for services rendered by workers classified as employees is reported on Form…
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Consultant’s Corner: How to Optimize Your Google My Business Listing
This is Part 2 of two of our Google My Business series. Read Part 1 here. Q: What should I do after setting up my Google My Business listing? Creating a Google My Business account that includes your business’s basic information is certainly better than not having one; however, in order to make the most…
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Consultant’s Corner: Why You Need a Google My Business Listing
Q: What is Google My Business? Do I need to put my business on it? Today, Google and other search engines are more often than not a customer or client’s first step in identifying and evaluating products or services they are seeking. A business’s search result rankings, online content, and customer/client reviews are the main…
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Consultant’s Corner: Business Entities for Real Estate Investment
Q. I am a real estate investor. What type of business entity should I form? Real estate investing activities can potentially have mortgage financing, personal injury, workers’ compensation, debt collection, and other business risks that prompt business owners to form a business entity or entities, to hold their properties. Also, properties are often held in…
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