Latest Covid-19 Updates: Round up of Key Information

This past year has been one of the more challenging we have faced. Going forward, for as long as it’s useful, we will bring you a regular round up of relevant COVID-19 information highlighting what you need to know to manage through this crisis. Click here for key updates. Checklist for SBA PPP Loan Forgiveness […]

How will the latest COVID-19 legislation affect your taxes?

The Consolidated Appropriations Act (CAA), signed into law on Dec. 27, provides another round of “recovery rebate” payments to individuals and an expansion of the Paycheck Protection Program (PPP) loan program. The legislation includes some tax relief as well. Here’s a brief overview of some of the tax-related provisions that may affect you or your […]

Paycheck Protection Program (PPP) – Round 2 Is My Business Eligible for Relief?

On December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021, (the “Relief Act”), which includes a relief package consisting of $900 billion in aid to small businesses and individuals impacted by COVID-19. The focus of this Alert is to address changes made to the Paycheck Protection Program (PPP) through Title III – Continuing the […]

Expenses Paid for with PPP Loan Funds are Now Deductible

After many months of debate and consternation, Congress has finally overridden the guidance issued by the IRS and Secretary Mnuchin regarding deducibility of expenses paid for with PPP loan funds.   The Relief Act states “no deduction shall be denied, no tax attribute shall be reduced, and no basis increase shall be denied, by reason […]