Ideas & Insight

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides roughly $2 trillion of much-needed financial relief, including tax relief, to individuals and businesses. This relief is in response to the coronavirus (COVID-19) pandemic. One CARES Act provision temporarily relaxes the Tax Cuts and Jobs Act (TCJA) limitation on deductions for business interest expense. Here’s […]

Due to the coronavirus (COVID-19) pandemic, employers are now faced with many challenges with their workforces, including responding to changes in employee benefits programs, such as DCAP elections. In response, they have many questions. Here’s one question from an employer: Q.  One of our employees has approached us with a dilemma. She would like to revoke […]

Michigan has started sending out this notice regarding unemployment compensation: “The Unemployment Insurance Agency records show you recently established a claim for unemployment benefits. This notice is to advise you that an addition to your weekly benefit amount, you are also entitled to receive an additional $600 per week in Federal Pandemic Unemployment Compensation (FPUC). […]

Disclaimer: The information available to us is changing rapidly & key questions remain about how to implement the Paycheck Protection Program. Although the information below is provided based on our best judgement about what we know at this time, portions could already be outdated. We encourage you to check in with us for additional insights […]

In true American spirit, companies nationwide have quickly adapted to the rapid spread of COVID-19 and transitioned employees to a work from home (WFH) model; but are they protecting data in a work-from-home world? This approach is critical to limiting the impact of the virus, and for many organizations, it is a viable workaround. The […]

As many employees are working remotely for the short term, “normal” communication among teams has changed dramatically, almost overnight. This can result in deviation from established protocols in all areas of organizations. Not surprisingly, cyber criminals are aware of, and working to take advantage of, increased vulnerabilities.  At a time when cash is critical, the […]

SBA Loan Relief and New Lending Now Available For Small Businesses Impacted By COVID-19 Defer Existing SBA Loan Payments for Up To 6 Months This is at the lender’s discretion, but anyone with a current loan can/should talk with their loan agent. An informational notice about payment deferrals for existing loans from the SBA was […]

State Provides Guidance to Employers Contemplating Layoffs Source:  Michigan Department of Labor and Economic Opportunity LANSING, MICH. The Department of Labor and Economic Opportunity today provided guidance to Michigan employers on how to avoid potential layoffs related to COVID-19. “We know that many families and businesses are and will experience economic pain as a result […]

Interest rates are dropping in this uncertain business climate in response to the COVID-19 pandemic. Is now the time to refinance your business loan or mortgage? For business loans, what you’re going to be able to find seems to be on a case-by-case basis. What ultimately will help you, is business planning and forecasting (cash […]

The IRS has provided federal income tax relief for any person with a federal income tax payment due April 15th. Background:   The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns remains April 15, 2020. […]