Completing the PPP loan forgiveness application can seem intimidating, but it doesn’t have to be. Here’s an overview of the 3 applications.Read More
Archive for the ‘COVID-19 Resourcecs’ Category
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SBA Issues Loan Necessity Questionnaires for PPP Borrowers With Loans of $2 Million or More
The SBA released two loan necessity questionnaires for Paycheck Protection Program (PPP) borrowers who received PPP loans totaling $2 million or more.Read More
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Maryland Strong Economic Recovery Initiative
The $250 million “Maryland Strong Economic Recovery initiative” provides funding to businesses negatively impacted by the COVID-19 pandemicRead More
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Beware of Vishing (Voice Phishing) Scams
A recent fraud alert from the Cybersecurity Infrastructure Security Agency explains how scammers use voice phishing (or “vishing”) to access company recordsRead More
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FASB Delays Long-Term Insurance Standard (Again)
The FASB issued simplified rules for reporting long-term insurance contracts in 2018. But insurers have struggled to make the changes during the COVID-19 crisis.Read More
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Offer FSAs to Employees? You May Need to Act Before Year End
If you offer employees FSAs, it’s important to keep abreast of the latest changes, including those made by the CARES Act.Read More
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Take Aim at Tax Credit for Hiring Target Workers: WOTC
If your business is actively recruiting, consider certain “target” groups that could qualify for the Work Opportunity Tax Credit (WOTC)Read More
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Home Office Deductions Amid the COVID-19 Pandemic
Millions of Americans are now working from home, and many are asking whether unreimbursed home office expenses are tax deductible.Read More
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How to Report COVID-19-Related Debt Restructuring
COVID-19-related loan modifications may be exempt from the complex accounting rules for troubled debt restructurings, if certain conditions are met.Read More
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Tax Implications When Lenders Cancel Debts
Here’s what borrowers need to know about the tax implications of so-called “cancellation of debt” (COD) income.Read More