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...
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...
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...
To our Valued Clients and Associates, Yesterday, the Senate approved the bill H.R. 7010 that had passed the House last week. The Bill now heads to the President for signing. For borrowers under the PPP loan program, H.R. 7010 provides some much-needed...
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...
To our Valued Clients and Associates, With the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the third stimulus bill related to the Covid-19 pandemic) on Friday, the Government has provided much needed relief to small businesses. However,...