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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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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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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…
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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 MoreDear 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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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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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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The New Year is guaranteed to bring one thing… tax season. For most accounting firms, tax season means coffee is always brewing and work hours are extended to make sure you meet the deadline. We know the process can seem daunting but it doesn’t have to be. For that reason we’ve put together a quick…
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My office phone rang. It was a referral from a friend. Through tears, the lady in her sixties, explained that her husband had passed away just weeks before. He had always paid the bills, handled the taxes, met with the investment broker and now she was left not knowing what they owned and if she…
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