Featured Posts

PPP Expenses not Deductible

The IRS has come out with Revenue Ruling 2020-27, which gives us some direction on how to treat the PPP loan and the related expenses. Lets look at each separately. If your business received the … [Read More...]

QUICKBOOKS WEBINAR CLASS

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PPP LOANS OF 50k OR LESS

Paycheck Protection Program (PPP) borrowers of $50,000 or less now have an opportunity to apply for forgiveness using a simplified application that has been released. Loans of less than $50,000 are … [Read More...]

PPP LOAN UPDATE

Have you gotten a notice that your PPP loan payments are starting to come due? Those payments may now be deferred – take a look at the following … [Read More...]

Payroll tax deferral update

On August 8th, the President issued a presidential memorandum that would allow employers to defer the employee’s portion of payroll taxes. On Friday August 28th, the IRS issued guidance regarding … [Read More...]

Presidential Order on Payroll Taxes — FYI

On August 8th, the president issued a memorandum that will suspend certain employee payroll taxes from September 1, 2020 to December 31, 2020.  There are still questions on the details of the … [Read More...]

Forgiveness of PPP

The laws are still changing on the forgiveness of PPP loans, if you have questions we advise to contact the bank your PPP loan is through.  Most likely the best advice is to wait. … [Read More...]

DEADLINE TO FILE FOR PPP LOAN

Last day to apply to receive a PPP loan is June 30th! Although the statutory language is a bit murky, a June 8th joint news release by Treasury Secretary Mnuchin and SBA Administrator Carranza said … [Read More...]