U.S. Treasury and the SBA issued additional clarity around good faith certification of PPP loan necessity and also finalized rules on increasing PPP loan amounts to partnerships and seasonal employers.
If you have operating expenses covered under a PPP loan in 2020, take care in considering your deductions for 2020 tax planning. The IRS has issued guidance to avoid deducting any expenses paid for with potentially tax-exempt (forgivable) income.
Based on concerns that some banks prioritized large Paycheck Protection Program loans over small loans and that some businesses should not have received funds, the Treasury Department has issued early warnings about returning funds and forgiveness scrutiny.
The Interim Stimulus Plan was just passed. What will the $484 billion in funds go towards? We've outlined what we know about the Paycheck Protection Program and other relief programs below.
The IRS recently issued Notice 2020-23. What impact does this have on your employee benefit plans? We've outlined a few important highlights of Notice 2020-23 below.
Due to the economic impact of COVID-19, many business owners are facing challenging decisions, especially regarding their employees. Making the decision to layoff vs. furlough is not easy. We've outlined the key distinctions below to help you understand what is best for you and your employees.
The recently enacted CARES Act loosens rules surrounding retirement plans, IRAs, and high-deductible health plans. Here’s what you should know.
The Paycheck Protection Program has just been launched. What is this program? What does it mean for you, as a business owner? We've summarized what you need to know here.
If you are a business owner, you are well aware that the COVID-19 pandemic has forced you to make difficult decisions. To make sure you have all the information you need to make rational business moves, it's suggested you look to your financial statements. We've outlined what you need to know here.