News Flash … for Those Who Really Care About PPP
One flash for everyone is this: The Treasury has decided to NOT extend the deadline for filing tax returns for 2019 beyond July 15. Sorry everyone, but you can still file for an extension. The next…
You might fall asleep (like I did…)
You might be tired of sorting through all the fine details of PPP, but we do have some important updates. That said, our disclaimer still stands: Seek counsel with your advisors to help you with your…
Thanks to the Heroes at RSJ!
The intensity is extraordinary. In fact, when an accountancy firm represents a seller during an m&a transaction, the intensity is even more extraordinary than it is during tax season. “Unlike tax season, there is…
NEWS! NEWS! NEWS! Some bad, some good …
This afternoon, the Senate passed HR7010, which we discussed in last week’s update. This is what we understand to be true, though it is not exhaustive. The so-called covered period has been extended from 8 weeks…
Some Clarification and Updates on PPP Forgiveness
Many of you have been funded with the PPP and are now faced with questions of properly using the loan and preparing for forgiveness. Previously, we have shared some of our thoughts and would like to…
PPP Forgiveness Recommendations
Click Here to see our latest video with a few highlights and recommendations.
Paycheck Protection Program (PPP) Forgiveness Recommendations
The Paycheck Protection Program comes with a little bit of good news and a little bit of bad news. The good news is that the loan is eligible for forgiveness and that any amount you receive…
A Few More Updates for You to Consider
No frantic notifications here today—just an update and a few items that are on our radar. As always, our standard disclaimer exists: seek counsel for your specific situation. In the words of our partner Eric Swenson,…
More PPP Loan Details
The government finally issued a bit more guidance on PPP loans for owners who report business income on their Schedule C or on LLC tax returns. This update contains some highlights. Note that these are not…
CARES and FFCRA Update (April 10)
As we look to the fourth week of our safer-at-home shutdown, the professional community continues to discuss new information regarding the Families First Coronavirus Recovery Act (FFCRA) and the CARES Act. Though our firm has primarily…
This just in…
Just when you think you have it all understood, the SBA issues an update with answers to frequently asked questions … and things change. In the SBA’s set of FAQs dated April 6, Q&A #7 clarifies…
Latest Updates
A lot is changing fast. Here are a few updates from Jim and Tony since their podcast with Joe. Some banks are accepting applications for PPP loans, but independent contractors will have to wait until April…
PPP Loan Update
NEW INFORMATION - JUST RELEASED The PPP loan process for small businesses and sole proprietors is set to open tomorrow, April 3, but very few banks are actually ready to process applications at this time (and…
Paycheck Protection Program
Among the many relief provisions passed by Congress in recent days, are loans focusing on small business.
CARES ACT UPDATE – Get Prepared Now
We spent the weekend getting our arms around H.R. 748, the CARES Act. Our summaries and conclusions are included herein. You might need to contact us, or whomever your advisors are, for more particulars and specifics…
The CARES ACT – Updated
The CARES Act was signed into law on March 27. Though not exhaustive, there are things that strike us as worthy of mentioning. There is much more in the bill itself, so you might want to…
TAX LAW UPDATES
The new notice 2020-18 expanded who can take advantage of not paying until July 15. It seems everyone without limitation, even corps are able to delay payments of income tax until then. Note that the 1st quarter…
Tony Rose Quoted in “Your Client’s Taxes Under Trump”
Private Wealth Magazine writer Carol J. Clouse spoke with founding partner Tony Rose for her article "Your Client's Taxes Under Trump." If you've been curious about how our 45th President's economic plans will affect those who…
President-Elect Trump’s Impact on Your Taxes
While some are happy and some are protesting the election of Donald Trump as our next president, one thing is certain: Changes will be made to the tax and business climate. Many are speculating about what might happen, but no one really knows what President-Elect Trump's administration or the Congress will propose and will pass.
Important Information About Recent IRS Notices
To Our Valued Clients, Over the last few days we have received IRS notices for clients proposing unpaid taxes, penalties and possible failure to file assessments. Due to the volume of notices we received, we investigated…