April 16, 2020
Sage Software has launched an online resource hub and assessment tool for businesses and accountants find relief assistance available to them based on their industry type and how they have been impacted by the Covid-19 crisis and state stay-at-home ...
April 16, 2020
With reports that the PPP’s initial $349 billion pool of funds will be fully subscribed as early as today, the need for quick and decisive action by Congress is clear. Small businesses are the nation’s economic engine and supporting and stabilizing ...
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April 16, 2020
As for our profession, you have no doubt read, heard and seen how disruption was coming. Your reactions may have ranged from a mild shrug to rabid agreement. But opinions varied on when disruption would arrive and truly ...
April 16, 2020
The U.S. Census Bureau said that overall retail sales during March were down 8.7 percent seasonally adjusted from February and down 6.2 percent unadjusted year-over-year. The monthly drop is the largest ever recorded.
April 15, 2020
At last, The Treasury issued guidance related to self-employed individuals and how the Paycheck Protection Program (“PPP”) applies to them. If you remember, the initial CARES Act language included 1099s as part of payroll costs for small businesses ...
April 11, 2020
Company preparing to accept applications for billions of dollars in requested PPP relief next week. 1 in 12 American employees is paid through QuickBooks Payroll
April 9, 2020
The Internal Revenue Service today has issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. Recently the IRS issued tax relief for partnerships filing amended returns.
April 7, 2020
The American Institute of CPAs (AICPA) is thanking the Treasury Department and Small Business Administration (SBA) for providing further clarity on the application process for the Paycheck Protection Program (PPP), the $349 billion small business ...
April 7, 2020
The American Institute of CPAs (AICPA) has recommended a defined set of documents for lenders to rely on as well as some key clarifications in the Treasury Department and Small Business Administration’s Paycheck Protection Program (PPP) application ...
April 6, 2020
Paycheck Protection loans, which are provided through SBA-approved lenders, are available to small business borrowers to cover payroll and other operating costs. Included among the application requirements is specific documentation related to payroll.
April 6, 2020
The federal Coronavirus Aid, Relief and Economic Security (CARES) Act includes the Paycheck Protection Program (PPP) to help more than 30 million U.S small businesses. The program offers $349 billion in loans to businesses and nonprofits with no more ...
April 5, 2020
For the calculation of the Average Monthly Payroll cost under the Paycheck Protection Program (PPP), the Gross Payroll approach should be used for the application, according to the recommendation from the AICPA-led small business funding coalition.