CATEGORIES
SME CPA BLOG
ARCHIVE
1. Only Use Money From The Loan on Forgivable Expenses You must track what you spend this money on in order to be able to apply for forgiveness. Recipients must not lose sight of the legal restrictions on the use of these fund. The SBA issued a Rule that requires PPP applicants to certify funds…
Read More
Retraining tax credits enable Georgia businesses to offset their investment in employees. Whether retraining workers to use new equipment or new technology or upgrading the company’s competitiveness with ISO 9000 training, companies can afford more training, more often, thanks to Georgia’s tax credit program. If your business has purchased or upgraded software, equipment or any…
Read More
Deadline Changes In response to COVID-19, the IRS recently released guidance on revised due dates and other provisions that impact non-profit entities. In Notice 2020-23, the IRS specifically extends the payment and filing deadlines for Forms 990-T and 990-PF. The notice also broadly provides relief for the full list of “time-sensitive actions” listed in Revenue…
Read More
Have you applied for a PPP or EIDL loan and have you received your funds or you’re waiting for them? You may be asking yourself “What do I do now? How will I calculate the forgiveness portion of the PPP loan? My employees are currently drawing unemployment? Do I take them off and start paying…
Read More
Employed full or part time? Unemployed? A temporary or gig worker? Retired or disabled? Receive public benefits? Have no income? Most U.S. residents – under certain income levels – will receive the Economic Impact Payment if they are not claimed as a dependent of another taxpayer and have a Social Security number. Here’s how much…
Read MoreWe hope that you are keeping yourself, your loved ones, and your community safe from COVID-19 (commonly referred to as the Coronavirus). Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping with the Coronavirus fallout. In addition to the summary of IRS…
Read More
As the novel coronavirus (COVID-19) continues to sweep the nation, the “Families First Coronavirus Response Act” (the Act) was approved by Congress and signed into law by the President on March 18, 2020 in an attempt to intended to ease the economic consequences stemming from the novel coronavirus disease (COVID-19) outbreak by providing family and…
Read MoreOn March 18th Governor Brian P. Kemp and the Georgia Department of Labor (GDOL) addressed an increase in the number of partial claims filed as a result of businesses reducing work hours or temporarily closing their doors in light of recent developments regarding COVID-19. The GDOL is mandating that GA employers file partial claims online…
Read More
On March 20th Treasury Secretary Steve Mnuchin announced that federal filing and payments for taxes have been extended to July 15th. It is expected that state departments of revenue will follow the Feds by extending the April 15th tax filing deadline; but, at present, this action has not been taken. Remember that this only applies to your federal…
Read More- « Previous
- 1
- 2