Posts by Andrew Chaves

California PPP loan
California: Update to Paycheck Protection Program Loan Conformity

Assembly Bill 80 (AB 80) allows qualifying taxpayers to exclude from California gross income Paycheck…

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IRS PPP
IRS Provides Safe Harbor for PPP Loan Deductions

The safe harbor applies to PPP borrowers who received first-round loans but were not able…

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erc guidance
IRS Issues Guidance for Claiming Employee Retention Credit in 2021

The IRS issued additional guidance for businesses claiming the employee retention credit for the first…

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private equity roi erc
How Private Equity Funds Can Leverage the Employee Retention Credit

Private equity funds may generate cash by claiming the recently enhanced employee retention credit (ERC)…

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Procedures for Change of Ownership for PPP Borrowers
With PPP Extension, Borrowers Should Revisit Guidelines for Ownership Changes

The SBA issued a Procedural Notice to address required procedures for changes of ownership related…

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ppp_loan_extension
Deadline Extended for PPP Loan Applications

The U.S. Senate passed legislation that provides a 60-day extension for eligible employers to apply…

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ERC_FAQS
Employee Retention Credit FAQs Released for 2020 Claims

IRS issued new FAQs describing retroactive changes to the ERC under the new law for…

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R&D Tax Credit and Employee Retention Credit
Interplay of PPP and ERC with the R&D Tax Credit

The CAA addresses the interplay for businesses that intend to claim both the ERC and…

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GYMS Act Could Offer Relief to Struggling Fitness Businesses
Proposed Relief Would Aid Fitness Businesses Impacted by COVID-19

The Gym Mitigation and Survival Act (GYMS Act) would award grants to gyms and fitness…

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Paycheck Protection Program
PPP Round 2: Key Details & Loan Eligibility Requirements

New PPP funding is available for businesses impacted by COVID-19. Here is a summary of…

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