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CARES Act Revisited: Expenses Paid with PPP Loan Now Deductible
Just in time to throw our year-end tax planning on its head, Congress overwhelmingly passed a $900 billion COVID-19 relief bill just before midnight on Monday that ensures tax deductibility for business...
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How to improve the strength and value of your business
Could your business use a tune-up? Just like your car, your business can benefit from a periodic peek “under the hood” to uncover problems or inefficiencies that might jeopardize...
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Is revenue recognition on your mind? Maybe it should be.
Updated revenue recognition guidance (ASC 606 – Revenue from Contracts with Customers) was supposed to have been implemented by private companies and most nonprofits in the fiscal years beginning...
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New IRS Guidance Allows, But Does Not Force, Employers to Postpone Withholding Payroll Taxes
In early August, President Trump signed an executive order declaring a payroll tax holiday. On Friday last week, the Internal Revenue Service issued guidance to address some of the...
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New Answers to PPP Forgiveness Questions Published by SBA
The Small Business Administration (SBA) and Treasury Department published a new Frequently Asked Questions (FAQ) document on August 4, 2020 to address some of the processes and calculations Paycheck...
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The SBA Will Allow PPP Borrowers to Apply Early for Loan Forgiveness
Borrowers who received a Paycheck Protection Program (PPP) loan can apply for loan forgiveness before their covered period expires, according to new guidance released by the Small Business Administration...
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