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SME CPA BLOG

SME CPA Promotions

June 24, 2020

Join us in congratulating our employees that received a promotion. They all deserve and earned it. SME CPAs would not be where we are today without our team.

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5 things you should do once you receive your PPP loan.

May 14, 2020

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…

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Recent Tax Developments Impacting Non-Profit Organizations

April 21, 2020

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…

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What you need to know about the PPP and EIDL loans

April 17, 2020

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…

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Families First Coronavirus Response Act.

March 20, 2020

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…

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How to handle the Georgia Department of Labor’s partial claims process

March 19, 2020

On 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…

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IRS grants postponing tax payment deadlines.

March 18, 2020

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…

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Important message from our managing partner about COVID-19

March 18, 2020

Dear Clients: Many of you have reached out to us regarding SME’s operations in light of the COVID-19 concerns.  In an effort to safeguard our staff and our community, our offices will remain open to focus on meeting our clients’ needs while working to reduce the amount of in-person interaction as advised by the Centers…

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Can I Handle My Accounting Myself?

March 18, 2020

You may think that you can handle your accounting yourself, and for certain things, you sure can. But when it comes to those tasks that are more complex and it can take a big portion of your time (such as taxes), handling your accounting yourself may not be the best idea. You should consider that…

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Taxes for E-commerce Business Owners

February 17, 2020

Owning an online business can be fun and very profitable. The expansive nature of the internet can mean more sales, and reaching more potential buyers than a local business. It can also be more convenient for you and your customers. If you own an e-commerce business or are thinking about doing so, there is quite…

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