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…
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…
Adapting Audit Procedures to the New Normal
We are always interested in discovering new methods of conducting business, both for ourselves and for our clients. Last Friday, we tested a new method of conducting year-end inventory counts. One of our clients, an essential…
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…
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…
Fact Sheet
Here is a brief fact sheet, released from the government. CLICK HERE to read for yourself.
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…
CARES Act Podcast – Genius Network
Tony Rose was honored to be a guest on the Genius Network podcast with Joe Polish and Jim Dew discussing the CARES Act and how it applies to businesses. Listen here: Genius Network Podcast This podcast…
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…
What a 45-Year-Old Hockey-Playing-Mom Can Teach You About Entrepreneurship by Tony Rose
A friend of mine signed up for hockey lessons last week. She’s 45 and, by her own account, not much of an athlete. When she told me, I raised an eyebrow. “Hockey lessons? You?” She shrugged…