Tag: CARES Act

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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PPP and State Tax Implications
IRS Rules on Federal PPP Expense Deductions; State Tax Questions Remain

The IRS issued a ruling allowing federal tax deductions for PPP expenses, but questions remain…

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Employee Retention Credit Expansion
New Stimulus Bill Package Extends and Expands Employee Retention Credit

The Consolidated Appropriations Act of 2021 (Act), signed into law on December 27, 2020, contains significant enhancements…

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Income Tax Accounting for Year-End
Income Tax Accounting: Hot Topics for Year-End 2020

There are a number of income tax accounting considerations related to the CARES ACT provisions,…

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Year-End Payroll Taxes, Compensation & Benefits
For Payroll Taxes, Compensation & Benefits, Year-End is Not the Same in 2020

As 2020 draws to a close, you may find that this year is not be…

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Common Fringe Benefits
Year-End: Common Fringe Benefits, Rules for 2% S Corp Shareholders & CARES Act Changes

The CARES Act made a number of changes to the rules relating to traditional fringe…

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PPP Loan Forgiveness May Impact R&D Credit
PPP Loan Forgiveness May Reduce R&D Credit

PPP loan recipients should be aware that forgiveness of the loan may cause 2020 qualified…

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PPP Loan Necessity Questionnaire
SBA Sending ‘Loan Necessity’ Questionnaires to PPP Borrowers

PPP borrowers should be on the lookout for a ‘loan necessity’ questionnaire from their lenders,…

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Year End Business Planning
2020 Year-End Tax Planning for Businesses: Tax Strategies for Resilience

Explore the tax relief tactics that can take your business from reacting to the day-to-day…

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PPP Changes from SBA
SBA Changes PPP Forgiveness Rules for 5% Owner-Employees of Corporations & for Certain Nonpayroll Costs

The SBA issued an Interim Final Rule that sets a de minimis rule for Paycheck Protection…

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