WELCOME TO THE MILIKOWSKY TAX LAW BLOG

Providing actionable insights and valuable information to help you navigate the complexity of tax law for your business.

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How Are 3 Key Industries Being Affected By COVID-19?

There hasn’t been a single industry in the world that hasn’t felt the effects of COVID-19. Despite the media attention on consumer uncertainty and production disruption, the greatest impact has been felt by organizations that must learn…

Updated 2020 Tax Filing Deadlines

IRS has extended the deadline for personal tax filings from April 15 to July 15. It has also extended the deadline for contributing to your 2019 IRA. So, if you haven’t contributed, you still have time. Trying to decide whether or not to…
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Applying to SBA’s Paycheck Protection Program

On March 27th, 2020, Congress passed the CARES ACT, which included provisions that allowed banks to lend up to $349 billion in the Paycheck Protection Program set up by the Small Business Administration.  The rules have changed several times…
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Reopening the Economy: How to Prepare Your Company for Success

When we try to predict what the economy will look like weeks, months, and years from now, it’s important to remember that this is not the first time the human race has had to come back from a low point. No matter which example you choose…
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How to Protect Yourself from Stimulus Check Scams

Over the last few weeks, there have been reports of financial scams regarding the stimulus payment to taxpayers. Fraudulent sources have contacted both people who have their stimulus checks, and those who are still awaiting their checks,…
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Working From Home for Lawyers

Adjusting to the new reality of working from home has been challenging for everyone, including those who work in the legal space. During these unprecedented times, we have all had to quickly shift gears and adapt to working in a way that…
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What to Do if You Get Audited by Edd

Being audited by EDD can happen to anyone. It can be challenging to take a step back and see the audit process from an objective point of view, but maintaining your focus is essential to coming out ahead in the end. In this article, we discuss…
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2020 Tax Filing & the SBA PPP Loan

If your business received SBA PPP loan funds here's what you need to know to prepare for your 2020 taxes. As with all elements of the forgivable loan, there are steps you should take right now to ensure forgiveness and compliance. In…
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Stimulus Check Scams are Prolific: Beware

Recently, there have been instances of financial scams targeting tax-paying individuals who have received their stimulus check or are still waiting on their stimulus payment. On April 16, the Virginia Coronavirus Fraud Task Force issued a…
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MSELF Loan: What Larger Businesses Should Know

The government recently introduced a new loan program called the Main Street Extended Loan Facility (MSELF). This new loan program provides up to $2.3 trillion in loans to larger businesses in need. All US banks are eligible to originate…
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Commentary on NY Times Article, “California Sues Uber and Lyft, Claiming Workers Are Misclassified”

California Sues Uber and Lyft, Claiming Workers Are Misclassified. In January, 2020 Assembly Bill AB-5 went into effect redefining the criteria for a 1099 contract worker as opposed to a W-2 employee. The bill was aimed at the employers who…
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What You Need to Know About the Moved IRS Deadline

IRS has extended the deadline for personal tax filings from April 15 to July 15. It has also extended the deadline for contributing to your 2019 IRA. So, if you have not contributed, you still have time. Trying to decide whether or not to…