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covid-19

Stories tagged as "covid-19"

Ag and Rural Businesses Eligible for More Pandemic Support

May 26, 2020, 8:56 AM

More support is now available for rural and ag businesses that have been hit especially hard by the pandemic. And starting May 26, the USDA will start taking applications from farmers and ranchers.

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Tax Changes to Net Operation Losses for Businesses

May 20, 2020, 7:49 AM

The CARES Act resulted in several tax changes, including those related to net operating losses. These changes were meant to provide much-needed relief to businesses to improve cash flow.

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5 Tips to Keep You and Your Sensitive Data Secure

May 20, 2020, 6:39 AM

It would be nice if the bad guys would give it a rest during a pandemic. But no, hackers are still hard at it, preying on people’s fears and distractions to try to steal personal and financial information. Take note of these tips to safeguard your and your company’s information.

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Small Business Administration Releases PPP Loan Forgiveness Application

May 18, 2020, 8:00 AM

The Small Business Administration and Department of Treasury recently released the first detailed guidance about calculating Payroll Protection Program loan forgiveness. Despite the new guidance, many borrowers will likely still have questions about PPP forgiveness or need assistance with the forms and worksheets.

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PPP Loan Forgiveness Solution

May 14, 2020, 5:01 AM

It’s difficult to keep up with and understand all of the nuances of the new government aid. We don’t want you to feel overwhelmed or alone during this time. So, we’ve created an innovative solution to help you forecast, document, and report your Paycheck Protection Program loan forgiveness.

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Alert: PPP Good-Faith Certification Review Guidance

May 13, 2020, 7:17 AM

The Small Business Administration and U.S. Department of the Treasury have determined a safe-harbor clause for certain applications. For a PPP loan that’s less than $2 million, the SBA will deem that the borrower has made the required good-faith certification concerning the necessity of the loan.

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ALERT: Expenses Paid with PPP Funds Not Deductible

May 1, 2020, 5:26 PM

The IRS issued Notice 2020-32 on April 30 to clarify details on how expenses incurred as part of a Paycheck Protection Program will be taxed. The debt forgiveness is not taxable, but the covered expenses incurred in the payroll, rent, mortgage interest, and utilities are not deductible.

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ALERT: New PPP Guidance Issued

Apr 30, 2020, 4:26 AM

The Small Business Administration updated its FAQs to provide some clarity about program specifications. Any business that received a PPP loan before the SBA issued its new guidance — and that believes they don't demonstrate necessity for the loan — can repay the full loan by May 7, 2020.

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Update to HHS CARES Act Provider Relief Funds

Apr 29, 2020, 8:05 AM

The Department of Health and Human Services has started distributing the remaining $20 billion of the $50 billion general distribution to Medicare providers.

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PPP and Health Care Enhancement Act Signed into Law

Apr 24, 2020, 7:49 AM

The government enacted more help for small businesses and farmers and ranchers on Friday, April 24, with an amendment to the original CARES Act.

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