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COVID-19 RESOURCES

PPP Forgiveness Application

On May 15th the U.S. Small Business Administration (SBA) released the link to the “Paycheck Protection Program Loan Forgiveness Application,” which contains information on PPP Loan forgiveness along with instructions for completing the application form. The SBA said its form and instructions are designed to reduce compliance burdens and simplify the process for borrowers.  The form…
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5 things you should do once you receive your PPP loan.

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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Georgia Retraining Tax Credit

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…
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Recent Tax Developments Impacting Non-Profit Organizations

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

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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Here’s how much individuals will get from the Economic Impact Payments

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…
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