COVID-19 Information

What to do if you can’t pay your tax liability.

Filing your taxes can be such a headache, but what about a tax bill higher than you can afford? We understand the IRS’s collection process can be very intimidating, so let’s discuss some options that can help keep the IRS from instituting its collection process which...

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Software Options

With shelter-in-place orders in effect all over the country, many businesses are transitioning employees to working from home. One of the major challenges of remote work is finding the right software to enable employees to collaborate while working in separate...

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PPP & SBA loan assistance

We have heard from multiple clients now that many are currently trying to apply for the Payroll Protection Program Loan and are having difficulty knowing what numbers to submit and what costs to track. We would like to offer the following resources: For details on...

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SBA and PPP Loan Critical Updates

There continue to be changes coming in regarding the loan programs. With so many last minute changes regarding the Paycheck Protection Program Loan program, it appears it will most likely not be ready today as anticipated.  Some banks are taking advanced applications...

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Individual recovery rebate/credit

Under the CARES Act, an eligible individual will receive an advance payment for 2020 equal to the sum of: (1) $1,200 ($2,400 for eligible individuals filing a joint return) (2)$500 for each qualifying child of the taxpayer. For purposes of the child tax credit, the...

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Expansion of Unemployment Benefits

As most of you are aware, the president signed into law the Cares Act on March 28th.  Below is a summary of the items included in the legislation that apply to individuals. More legislation is expected so we will continue to update you as we have more information. ...

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SBA Disaster Relief Loan Information

We’ve had many questions recently on the newly announced SBA Disaster Relief Loan process. This is a great product and we’re advising our clients in need to apply for it as quickly as possible. They’re offering business loans of up to $2 million, with an interest rate...

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COVID 19 UPDATE

Dear Clients and Community, With the increasing news and concern regarding the COVID-19 Coronavirus, Innovative Solutions & Financial Advisors, LLP wants to ensure our clients we are monitoring the developing situation and have resources in place to provide you...

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