Mar 4, 2021 | Helpful Articles, Latest Tax Developments
To Our Valued Clients and Associates, As we mentioned earlier this week, the SBA was going to be issuing guidance on the revised PPP loan calculation for Schedule C filers. Today, that guidance has been issued via an Interim Final Rule (IFR) and an updated PPP loan...
Mar 1, 2021 | Helpful Articles, Latest Tax Developments
To Our Valued Clients and Associates, Recently, the Biden administration announced its first changes to the PPP program, including a big change for Schedule C filers. First, effective Wednesday February 24th and continuing for two weeks, the SBA has been directed to...
Dec 22, 2020 | Helpful Articles, Latest Tax Developments
To our Valued Clients and Associates, At long last, the House and Senate have agreed to a second significant stimulus package. We will highlight some of the more salient points from the over 5,500-page bill. As is with most government bills, there is a lot...
Nov 20, 2020 | Helpful Articles, Latest Tax Developments
To our Valued Clients and Associates, Late Wednesday night, November 18th, the IRS released Revenue Ruling (Rev. Rul.) 2020-27 and Revenue Procedure (Rev. Proc.) 2020-51 to clarify the rules for deducting expenses paid with PPP funds. While we have been looking for...
Oct 28, 2020 | Helpful Articles
To our Valued Clients and Associates, On Thursday October 22, the Commonwealth of Massachusetts announced a new grant program for small businesses. The two-tiered program offers grants of up to $25,000 for businesses with five or less employees, while companies with...
Apr 1, 2020 | Helpful Articles, Latest Tax Developments
To our Valued Clients and Associates, The U.S. Treasury has released a Fact Sheet and the application form for the Paycheck Protection Program. The Fact Sheet contains some important changes and updates to the program. Here are some highlights of the Fact Sheet they...
