If you get a PPP loan and use the proceeds on certain expenses, the loan amount will be forgiven. Can you then deduct the expenses on your tax return?Read More
Blog
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Safe Harbor for PPP Loans of Less Than $2 Million
The Small Business Administration announced there will be a safe harbor for all Paycheck Protection Program (PPP) loans under the amount of $2 millionRead More
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CARES Act Provides 4 Possible Reasons to File an Amended Return
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides provisions that may make it advantageous to file an amended return for your businessRead More
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Business Charitable Contribution Rules Have Changed Under the Cares Act
If your business is donating to charity to help ease the pain from COVID-19, you may be eligible for enhanced charitable deductions for donations.Read More
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Maryland Small Business COVID-19 Emergency Relief Grant Fund
This $50 million Grant Fund offers working capital to provide interim relief for Maryland small businesses and nonprofits whose operations were disrupted due to COVID-19. Terms and…Read More
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Managing Cash Flow Amid a Crisis
The COVID-19 pandemic is wreaking havoc on the world economy, and business owners are feeling it. Here are a few tips for managing cash flow.Read More
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Increase the Chances of Having Your PPP Loan Forgiven
You got a loan from the Paycheck Protection Program…now what? Here are a few steps you can take to help ensure your PPP loan is forgiven.Read More
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New COVID-19 Law Makes Favorable Changes to “Qualified Improvement Property”
The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for qualified improvement property (QIP)Read More
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COVID-19 Tax Relief: TCJA Loss Limitation Rules Are Eased
The CARES Act provides relief measures allowing liberalized deduction rules for losses that were previously limited by provisions in the TCJARead More
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Should You File a Business Interruption Claim for COVID-19 Losses?
There’s much disagreement regarding whether business interruption insurance policies should cover loss of income triggered by the COVID-19 pandemicRead More