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Did your business suffer loss during #COVID #lockdown? You can file a claim on your business insurance to recover your losses. Key financial lifeline for #restaurants #salon owners #retailers #medical offices. Check out our recent webinar on this topic: https://youtu.be/Cc1u9zTiEc4

Have an #LLC owning a rental property? Your Tax Status Can Cost You Money. If you own or plan to own #rentalproperties or #investmentproperty, it’s a great idea to own it with a limited liability company (LLC). The tax status that you elect for your LLC can cost or save you taxes. You have a variety of tax statuses to chose from with an LLC. An LLC can be treated as a sole proprietorship (if single member), a partnership (if multi-member),or you can elect to treat your LLC ...as an S-Corp or C-Corp. If you elect S-Corp, you might run into a level of unnecessary taxation. Here’s why: rental properties are considered passive income even if you actively participate in the rental activity. Passive income, by definition, is not subjected to self-employment tax. Continue reading to avoid the tax trap: http://www.fiffiklaw.com/have-an-llc-owning-a-rental-prope/

Good News (finally!) for #ppploan Borrowers Less Than $50,000 Recipients of Paycheck Protection Program (PPP) loans of $50,000 or less will be able to apply for forgiveness using a simplified one-page application that was released Thursday by Treasury and the U.S. Small Business Administration (SBA). The vast majority of PPP loans were below this threshold. In addition, these borrowers can ignore some of the calculations required of other borrowers. A new interim final rule (IFR) provides new guidance concerning forgiveness and loan review processes for PPP loans of $50,000 or less. Continue reading for links to new one-page loan forgiveness application and instructions. http://www.fiffiklaw.com/sba-simplifies-forgiveness-of-ppp/

Check Out Our October Newsletter! Don't Go Naked! Everything you need to know about voting by mail. Tips for saving money on auto insurance. Turn those savings into better coverage to protect your family.... Success stories for LegalShield members. Don't hesitate to use your membership for an issue you're having. Social media for small business webinar. Register for a webinar exclusive to our Legalshield members. Learn how to leverage social media to boost your small business. https://t.e2ma.net//7f1f0c/6fd651510e5a78adcd132ea21c7c7b62

Federal Court Ruling That Overturned Gov. Wolf's COVID Restrictions is Suspended by Appeals Court The 3rd U.S. Circuit Court of Appeals said the administration of Gov. Tom Wolf may once again enforce size limits on gatherings while it appeals the lower court order. The state immediately reimposed its gathering limit of more than 25 people for events held indoors and more than 250 people for those held outside, though Wolf hinted changes are in the works.