COVID-19

PPP Loan Forgiveness Process and Forms Updated by the SBA

The 2021 Consolidated Appropriations Act (CAA 2021) included several updates regarding the forgiveness of PPP loans. Most of these changes seek to simplify the process and allow greater flexibility to…

Help Staffers with Tax-Free Disaster Relief Payments

With the COVID-19 crisis pushing people across the country into financial hardship, it’s natural that some nonprofits want to extend a helping hand to staff members. The good news is…

Section 139: How to Provide Your Employees with Tax-Free COVID-19 Relief

The COVID-19 pandemic has led to a surge in unemployment. And while people who have been furloughed or lost their jobs are among the hardest hit by the pandemic, those…

The COVID-19 Relief Law: What’s in it for You?

The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of the highlights of the Consolidated…

How COVID-19 Could Impact Year-End Inventory Counts

Many businesses are closed or are limiting third-party access as COVID-19 surges across the United States. These restrictions could still be in place at year end — a time when…

Does Working from Home Entitle You to a Tax Break?

This year, as a result of the COVID-19 pandemic, more people worked at home than ever before. As 2020 draws to a close, many employees may be wondering whether any…

Preparing for the Possibility of a Remote Audit

The coming audit season might be much different than seasons of yore. As many companies continue to operate remotely during the COVID-19 pandemic, audit procedures are being adjusted accordingly. Here’s…

Tax Responsibilities if Your Business is Closing Amid the Pandemic

Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of…

Landlords and COVID-19: What are the Tax Implications?

The COVID-19 pandemic has had a significant impact on landlords. Many tenants have struggled to meet their financial obligations, often resulting in late or unpaid rent or negotiated lease modifications.…

Year-End Tax Planning for Investors

For investors, 2020 has been marked by volatility and uncertainty. As we approach the end of the year, it’s a good idea to review your portfolio and consider strategies for…

Reduce Your Costs to Cope with COVID-19

Nonprofits of all kinds once again face a nationwide economic crisis, this time caused by the COVID-19 pandemic. The challenges are daunting, but previous recessions may provide a road map…

Tax Implications of Working from Home and Collecting Unemployment

COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations: working from home and collecting unemployment.…

On-Time Financial Reporting is Key in Times of Crisis

Many companies are struggling as a result of shutdowns and restructurings during the COVID-19 crisis. To add insult to injury, some have also fallen victim to arson, looting or natural…

Current Conditions are Favorable for Cost-Effective Wealth Transfers

The ongoing novel coronavirus (COVID-19) pandemic has taken a terrible toll on the economy. But the current low-interest-rate environment coupled with depressed asset values means that now may be a…

How Does the CARES Act Affect Your Retirement Accounts?

As individuals continue to deal with the impact of the novel coronavirus (COVID-19) pandemic, the Coronavirus Aid, Relief and Economic Security (CARES) Act contains some retirement-related provisions to help ease…