Category Archives: Business


Paycheck Protection Program Flexibility Act: New PPP Rules!

08

Jun 2020

Paycheck Protection Program Flexibility Act: New PPP Rules!

The Paycheck Protection Program Flexibility Act (PPPFA) was signed on June 5, 2020 and revises several rules, making qualifying for full loan forgiveness easier for many small businesses. Make sure you read our original PPP Forgiveness article here if you haven’t already to get a grasp on the general mechanisms of PPP loan forgiveness, as this article will primarily focus on the changes to the…

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Five Ways Small Businesses Can Make a Big Impact During the Pandemic

15

May 2020

Five Ways Small Businesses Can Make a Big Impact During the Pandemic

During this scary and uncertain time, it can often be hard to find inspiration or know how to be of service. Worrying about finances, school, work, and our families can take a toll on our mental health. But one of the most impactful and uplifting things we can do during tough times is help others. Paragon Accountants is here to share inspiring ideas that you…

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PPP Loan Forgiveness Rules

07

May 2020

PPP Loan Forgiveness Rules

With the first round of funding completed and the second round underway, several businesses have received their Paycheck Protection Program loans from the SBA. This article will guide you through the rules that must be followed in order to gain maximum loan forgiveness as well as the rules that may reduce your forgiveness. 75% Rule You must use at least 75% of the PPP funds…

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Financial Assistance Options for Small Businesses impacted by COVID-19

02

Apr 2020

Financial Assistance Options for Small Businesses impacted by COVID-19

As we work together to find a sense of normalcy amidst the COVID-19 pandemic, we recognize that many of our small business clients are facing challenges as they continue to operate and maintain their staff. Below you will find a list of funding programs that can assist with your business if you have been financially impacted by COVID-19. We have also provided information about mortgage…

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Minimum Wage Increase 2020

20

Jan 2020

Minimum Wage Increase 2020

2020 California Minimum Wage Changes 2020 has come with many changes for employers and employees, the first being minimum wage. Beginning January 1, 2020, minimum wage has increased for all California employers. For employers with 25 employees or less, minimum wage has increased to $12/hour. For employers with 26 employees or more, minimum wage has increased to $13/hour. A schedule for California minimum wage rates…

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The Breakdown: Payroll Wages & Taxes Edition

02

Aug 2019

The Breakdown: Payroll Wages & Taxes Edition

If you’re considering hiring employees, it’s critical that you understand the payroll tax obligations that you have as an employer. With all the confusion surrounding how payroll taxes works, failing to report taxes correctly can result in major issues with the IRS – so it’s worth it to have a basic understanding. But have no fear, this article is going to break down exactly what…

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July 2019 Sales Tax Changes

17

Jul 2019

July 2019 Sales Tax Changes

Sales tax rates have once again changed! Beginning July 1st, numerous states have changed local sales tax rates with a few changing their state rates. In California, changes have only been made to sales tax rates in San Mateo County and the City of Glendora; the state sales tax rate remains unchanged. Further information on these changes in California are on the California Department of…

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New CA Small Business Sexual Harassment Training Changes

24

Jun 2019

New CA Small Business Sexual Harassment Training Changes

California has previously mandated that all employers with at least 50 employees conduct a sexual harassment prevention course for all employees. This meant that many small businesses had no obligation to provide any sort of sexual harassment prevention training. Recently however, California has passed Senate Bill No. 1343 that will impact many small businesses by January 1st, 2020. Per S.B 1343, all employers with 5…

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Meals & Entertainment Will Never Be the Same!

24

Jan 2019

Meals & Entertainment Will Never Be the Same!

So are entertainment expenses really not deductible anymore? How about meals? The new tax reform has brought an endless amount of change to tax law, and one of the most interesting parts affecting most (if not all) businesses are the changes to meals and entertainment expense deductions. We all have reaped the benefits of going out to eat and throwing parties and events while being…

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Statement of Information: What You Need To Know

16

Jan 2019

Statement of Information: What You Need To Know

One often time overseen, but extremely important document is the Statement of Information. If this statement is not filed correctly and on time, then you run the risk of everything from penalty to forfeiture of your business in the state that it is based. It is also important to find out what the parameters are for the state that you are in are because each…

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