Shutdowns caused by the COVID-19 pandemic have lead to worldwide supply chain disruptions, leading construction firms to have costly job delaysRead More
Archive for the ‘COVID-19 Resourcecs’ Category
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Cares Act Provisions May Boost Cash Flow
Here are CARES Act provisions that can help construction companies (and other businesses) reduce their tax bills and, thereby, boost their cash flows.Read More
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Applying for PPP Loan Forgiveness Early
Interim guidance released by the Treasury and SBA declare PPP recipients can apply for PPP loan forgiveness before the end of their Covered Period.Read More
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COVID-19 Crisis May Affect Tax Angles for Rental Property Losses
The COVID-19 crisis may affect tax angles for rental property losses. Here is a summary of important federal income tax rules for such losses.Read More
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Paycheck Protection Program Flexibility Act (PPPFA)
The Paycheck Protection Program Flexibility Act (PPPFA) aims to make it easier for PPP loan borrowers to receive forgiveness. Here are the key points.Read More
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How to Plan for a PPP Audit
The SBA and Treasury announced PPP loan borrowers of $2 million or more should expect an audit. Here are some ideas to help facilitate the process.Read More
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Overcoming the Challenges of Remote Auditing During the COVID-19 Crisis
Here is how you can facilitate the transition to remote auditing and help ensure timely, transparent financial reporting.Read More
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Fortunate Enough to Get a PPP Loan? Forgiven Expenses Aren’t Deductible
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
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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