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Payroll Tax Deferral Program – UPDATE

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…

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Borrowers Beware!

  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…

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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…

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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…

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BLAST-WORTHY NEWS

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…

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Phase IV Stimulus

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…

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More to Chew On

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…

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PPP Loan Forgiveness Examples and Calculations

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…

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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,…

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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…

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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…

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Fact Sheet

Here is a brief fact sheet, released from the government.   CLICK HERE to read for yourself.

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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…

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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…

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