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

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 |2021-01-06T18:56:49-05:00January 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

New Year, New Employee Retention Tax Credit Opportunities

The enactment of the 2021 Consolidated Appropriations Act created more opportunities for using the Employee Retention Tax credit (ERC).  The original ERC is a provision of the Coronavirus Aid, Relief and Economic Security Act (CARES Act). It provides a [...]

By |2021-01-06T14:03:12-05:00January 6th, 2021|Categories: Blog, Cole Marr, Gregory C. Brown, Tax|Tags: , , , , , , |Comments Off on New Year, New Employee Retention Tax Credit Opportunities

New COVID-19 Relief Bill Doubles Business Meal Deductions and Makes Favorable PPP Loan Changes

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations Act of [...]

By |2021-01-05T14:30:43-05:00January 5th, 2021|Categories: Blog, Tax|Tags: , , , , , , |Comments Off on New COVID-19 Relief Bill Doubles Business Meal Deductions and Makes Favorable PPP Loan Changes

California Small Business Support

California Governor Gavin Newsom has announced a variety of ways the state is supporting small businesses impacted by COVID-19. Resources for California businesses include temporary tax relief, the Main Street Small Business Tax Credit, cash grants, the California Rebuilding [...]

By |2020-12-15T12:26:02-05:00December 15th, 2020|Categories: Blog|Tags: , , , , , , , , , |Comments Off on California Small Business Support

The Possible Tax Consequences of a PPP Loan

If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and Economic [...]

By |2020-10-02T18:54:42-04:00August 10th, 2020|Categories: Blog, Tax|Tags: , , , |Comments Off on The Possible Tax Consequences of a PPP Loan

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 |2020-06-01T13:07:14-04:00May 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
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