by Brian Hare, CPA, CGMA | Nov 5, 2020 | Business
The subject of payroll records has been top-of-mind for business owners this year. The COVID-19 pandemic triggered economic changes that caused considerable fluctuations in the size of many companies’ workforces. Employees have been laid off, furloughed and, in some...
by Akila Sivakumar | Jul 29, 2020 | COVID-19
The Small Business Administration (SBA) has recently told lenders they will start accepting Paycheck Protection Program (PPP) loan forgiveness applications starting August 10, 2020. The SBA had originally stated that borrowers could apply for forgiveness as soon as...
by Brian Hare, CPA, CGMA | Jun 22, 2020 | COVID-19
As you may recall, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) back in April to help companies reeling from the economic impact of the COVID-19 pandemic. Created under a provision of the Coronavirus Aid, Relief and Economic...
by Brian Hare, CPA, CGMA | Jun 4, 2020 | COVID-19
On Wednesday night, the U.S. Senate passed The House bill called the Paycheck Protection Flexibility Act and sent it to President Trump, who is expected to sign it. This bill changes things on the Paycheck Protection Program. Here is a summary of main points of the...
by Barb Hendrickson | May 26, 2020 | COVID-19
The IRS has issued guidance clarifying that certain deductions aren’t allowed if a business has received a Paycheck Protection Program (PPP) loan. Specifically, an expense isn’t deductible if both: The payment of the expense results in forgiveness of a loan made under...
