All the latest COVID-19 changes and updates, as it’s released
In its October 8 interim rules, the Treasury Department and Small Business Administration offered some relief for businesses with PPP loans of $50,000 or less. In short, most borrowers with loans of $50,000 or less may…
Just a few of the important key points of the new Payroll Tax Deferral plan President Trump has released.
SEPT 3 UPDATE - The IRS released a little more clarification. The decision to participate in this payroll deferral program does remain in the employer's court. However, we are still unclear whether or not, if the…
For those of you who received PPP loans of over $150,000, be aware that the government has published your name, address, the range of your PPP loan amount, as well as the number of employees…
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 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…
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…
It’s been a week or so since our last blast, so some of this might be old news. That said, the devil is in the detail, and we have done our best to make sense of…
The House is expected to vote today on the HEROES Act, a massive coronavirus-relief bill that would modify the PPP program in ways that should be attractive to business owners, regardless of party affiliation. While this…
Just a couple of new things of interest. Earlier today, the SBA answered another question (#47), this one concerning the certification issues that were addressed in their answers to questions 31, 37, and 43 in their last…
Please see the following helpful spreadsheets and calculations. Preparing for Forgiveness - List of Documents PPP Loan Forgiveness Payroll Calculation PPP Loan Forgiveness Health Insurance Calculation PPP Loan Forgiveness Summary As always, these will vary depending…
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…
Click Here to see our latest video with a few highlights and 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…
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,…
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…
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…
Here is a brief fact sheet, released from the government. CLICK HERE to read for yourself.
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…
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…