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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Applying For EDD Workshare Can Lead to an EDD Audit

COVID-19 has caused many companies to reconsider how they run their day-to-day business. This could mean cutting costs in various different ways. One way that businesses can cut costs is through the EDD Workshare Program.  This…
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SBA PPP Loans: What You Need to Know

With the recent refunding of the SBA Paycheck Protection Program, there are a few details that you should know before you decide to apply. If you take out an SBA PPP Loan, you are required to spend 75% of that loan on the payroll. Any…
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Outdated IRS Systems Reach Tipping Point

As the world has been put on an indefinite hold, so too has the IRS. During prior government closures, the IRS still was able to have essential workers be in federal buildings to process tax returns, sort mail, and process payments. The…

Surge in Unemployment May Lead To Edd Audits

With the current coronavirus (COVID-19) pandemic and the California stay-at-home order in place since March 19, 2020, several small California businesses have been forced to close doors. Consequently, hundreds of thousands of workers have…
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Heads Up: The SBA Will Audit Any Company That Receives a Loan of More than $2 Million

In early May, Treasury Secretary Steven Mnuchin announced that all companies who receive loans of more than $2 million in government relief will be subject to full audits from IRS. The Payroll Protection Program allows companies to have…
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Fed to Audit All Sba Ppp Loans over $2M

From Fox Business to the Wall Street Journal to the Washington Post, all signs point to widespread audits of SBA PPP Loan recipients.  Despite pressure, publicly held companies in business sectors from hotels to cruise ships are…
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1099s and SBA PPP (VIDEO)

It’s safe to say that everyone has been impacted by the COVID-19 pandemic, but small businesses have been hit especially hard by consequential long-term closures and plummeting sales. While it’s important to be creative when cutting…
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CA EDD and Workshare Audit Risk

Long-term closures caused by COVID-19 have led many companies to make massive cuts, mostly by furloughing or laying off their employees. However, qualified companies have the option to enroll in the EDD Workshare Program, which allows…
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Tax Deferral and the PPP Loan

As we, the team at Milikowsky Tax Law, have reviewed the newly released CARES Act and Paycheck Protection Program, several places in need of further clarification in order to make them as effective as possible for small businesses have arisen.…
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Tips for Productive Remote Work

As the Coronavirus pandemic has continued to unfold, businesses have had to adjust to situations that they are not used to. Larger companies have the luxury of relying on existing infrastructure and policies that allow for a smooth transition…
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What CPAs Need to Know About Cares

For CPAs, one of the most important parts of the CARES loan package which has brought $2.3 trillion in loans to households, businesses, and state and local governments is the Main Street Lending Program, which provides for up to $600 billion…
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Optimize Your PPP Loan Use for Forgiveness

How to Optimize Loan Use for Forgiveness Approximately 1.6 million of companies have received loans under the Small Business Administration's Paycheck Protection Program (PPP), and those funds are beginning to hit bank accounts across the…