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What Should Be Included in the PPP Loan
We now have more clarity on what expenses we can apply to applications and what is considered accepted payroll expenses.
COVID-19 | Accounting for the PPP Loan
For purposes of the Paycheck Protection Program (PPP) loan and how it’s calculated there have been a lot of discussions around how to properly document your financial need.
COVID-19: Latest on the Paycheck Protection Program
The form is simple enough as any loan application, but some intricacies warrant an in-depth understanding of current state laws and regulations when making requests.
Important Federal Tax Deadline Change
The deadline for filing federal tax returns, as well as the tax payment deadline, has been extended from April 15 to July 15 due to the disruption caused by the coronavirus pandemic. Don’t hesitate to call with any questions or concerns.
It’s Not Too Late to Make an IRA Contribution
Generally, you can contribute up to $6,000 of your earnings for the tax year 2019 (up to $7,000 if you are age 50 or older in 2019). You can fund a traditional IRA, a Roth IRA (if you qualify), or both, but your total contributions cannot be more than these amounts.
The Nonprofit – How Not To Lose Your 501(c)(3) tax-exempt status
Once an organization receives tax-exempt status from the IRS, there are certain requirements that must be adhered to in order to maintain tax-exempt status.
What’s New for the 2020 Tax Filing Season
While the 2020 tax filing season promises to be less confusing than 2019, there are still a number of changes that taxpayers should be aware of.
Accounting Indicators To Watch When Scaling Your Business
When you’re considering scaling your business, much of the information you’ll see is about strategy. However, successful growth is more about managing your numbers effectively and planning for a sustainable scale
7 Common Accounting Problems Confronting Government Contractors – and How to Solve Them
The simple reality of government contracting is that the standard is higher than for businesses in the commercial market. And, the government has tightened up systems over recent years, to prove its efficiency in protecting taxpayer funds.
What Business Owners Need to Know about 2019 Tax Changes
The 2019 Tax Changes include standard mileage rates, health care tax credit, Section 179 Expensing and Depreciation, Work Opportunity Tax Credit and IRA Contributions. Read more about the specifics here.