Executive Breakfast Briefing: Accounting and Taxes in the New Year

Join us for our annual Executive Breakfast Briefing on hot topics and current events in the accounting and tax world that will affect you in 2021. Our panel of experts will discuss the CARES Act, R&D tax credits, state and [...]

By |2021-01-07T13:44:42-05:00January 26th, 2021|Categories: |Tags: , , , , , |Comments Off on Executive Breakfast Briefing: Accounting and Taxes in the New Year

PPP Loans Have Reopened: Let’s Review the Tax Consequences

The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during the COVID-19 crisis (or you received one last year), you may [...]

By |2021-01-19T13:09:09-05:00January 19th, 2021|Categories: Blog, Tax|Tags: , , , , , , |Comments Off on PPP Loans Have Reopened: Let’s Review the Tax Consequences

COVID-19 Relief Bill Updates & PPP Second Draw Loans

Join us for an upcoming webinar as experts cover key takeaways from the recently passed COVID-19 Relief Bill. SSF's Frank Balestreri and Tim Tikalsky will cover the latest information to help you navigate the Paycheck Protection Program (PPP) and the [...]

By |2021-03-12T11:44:30-05:00January 12th, 2021|Categories: |Tags: , , |Comments Off on COVID-19 Relief Bill Updates & PPP Second Draw Loans

New Law Provides Option to Delay Implementing the Updated CECL Standard

The Consolidated Appropriations Act (CAA), signed into law on December 27, 2020, includes a variety of economic relief measures. One such measure allows certain banks and credit unions to temporarily postpone implementation of the controversial current expected credit loss (CECL) [...]

By |2021-01-11T13:18:41-05:00January 11th, 2021|Categories: Audit, Blog|Tags: , , , , , , |Comments Off on New Law Provides Option to Delay Implementing the Updated CECL Standard

How the New Coronavirus Relief Bill Affects Business Taxes

The federal Consolidated Appropriations Act, 2021 (CAA), signed into law in late December of 2020, modifies and clarifies the tax provisions of last year’s Coronavirus Aid, Relief and Economic Security Act (the CARES Act) and provides other forms of [...]

By |2021-01-08T13:58:58-05:00January 8th, 2021|Categories: Blog, Tax, William R. Norwalk|Tags: , , , , , |Comments Off on How the New Coronavirus Relief Bill Affects Business Taxes

Clarity on PPP Forgiveness and Deductible Expenses

In late November, the Internal Revenue Service (IRS) issued a Revenue Ruling and a Revenue Procedure to clarify the Paycheck Protection Program (PPP) loan forgiveness and deductible expenses. These are expansions on Notice 2020-32 released by the IRS in [...]

By |2020-12-02T18:53:08-05:00December 2nd, 2020|Categories: Blog, Tax|Tags: , , , , |Comments Off on Clarity on PPP Forgiveness and Deductible Expenses

PPP Tax Implications Webinar

As you prepare for year end, join our panel of experts on tax considerations and suggestions regarding the Paycheck Protection Program. About this Event Navigating the Paycheck Protection Program in recent months has seemed akin to Mr. Toads Wild Ride. [...]

By |2020-11-05T17:26:14-05:00November 5th, 2020|Categories: |Tags: , , |Comments Off on PPP Tax Implications Webinar

Understanding & Planning for PPP Forgiveness

Join our upcoming webinar to learn about the PPP forgiveness timeline, eligible expenditures, and get guidance maintaining documentation. Our presenters will also cover recent updates, and provide tips on how to integrate PPP into your business planning. This webinar will feature a live Q&A session – so bring your questions!

By |2021-03-12T16:20:24-05:00May 29th, 2020|Categories: |Tags: , , , |Comments Off on Understanding & Planning for PPP Forgiveness

Fortunate Enough To Get A PPP Loan? Forgiven Expenses Aren’t Deductible

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 [...]

By |2020-05-18T12:30:50-04:00May 18th, 2020|Categories: Blog, COVID-19, Tax|Tags: , , , |Comments Off on Fortunate Enough To Get A PPP Loan? Forgiven Expenses Aren’t Deductible

PPP Update: SBA Issues Loan Forgiveness Application

On Friday afternoon, the SBA released additional guidance on several key elements related to PPP forgiveness, as well as a PPP Loan Forgiveness Application. Some areas that have been better defined, include: Alternative Payroll Covered Period Added For payroll [...]

By |2020-05-16T15:17:45-04:00May 16th, 2020|Categories: Blog, Consulting, COVID-19, Frank Balestreri, Small Business Services|Tags: , , , , , , |Comments Off on PPP Update: SBA Issues Loan Forgiveness Application
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