The disruption of COVID-19 is undeniable, but what type of litigation is more likely to occur as a result of the new economic environment? AGP’s Jason Bogniard is on Sliced (remotely!) to provide insight. Chuck and Brittany talk to Jason about the corporate litigation services offered by Apple Growth Partners, and what business owners should …
Tuesday, May 12, 2020 In updates dated May 6, 2020, in the Provider Relief Fund General Distribution FAQs, HHS made important clarifications. Health care clients should read the entire FAQ, as the following are highlights. Who is eligible to receive Provider Relief General Distributions – Must have billed Medicare on fee-for-service basis (Parts A or …
SBA Issues New Interim Final Rule Saturday, May 9, 2020 COVID-19 Response Team SBA newest Interim Final Rule impacts lender deadlines, but also promises further borrower guidance before May 14th. SBA issued its newest Interim Final Rule (IFR), effective May 8th, addresses the certification safe harbor. This IFR restates the certification of necessity required to …
Thursday, May 7, 2020 COVID-19 Response Team Added May 5, 202044. Question: How do SBA’s affiliation rules at 13 C.F.R. 121.301(f) apply with regard to counting the employees of foreign and U.S. affiliates? Answer: For purposes of the PPP’s 500 or fewer employee size standard, an applicant must count all of its employees and the …
SBA’s Newest FAQ Wednesday, May 6, 2020 COVID-19 Response Team SBA’s newest FAQ (May 5, 2020) extends the date for borrowers to review the required certification and make repayment. This is an important decision. Be sure to contact your engagement team or a member of the COVID-19 Response Team. 43. Question: FAQ #31 reminded borrowers to …
Jasmine Dixon joins Chuck and Brittany (remotely), discussing microloans and lending options for small businesses (<20 employees and <$5M in revenue). Jasmine is a capital advisor and program manager for the Economic and Community Development Institute (ECDI) in Cleveland and has been working with small business owners as an SBA lender. Jasmine talks about what …
Tuesday, May 5, 2020 COVID-19 Response Team Our forgiveness calculator is updated to reflect recent SBA and IRS announcements, as well as your feedback. The summary page now shows the tax impact of having the forgiven expenses be non-deductible. While comments have been made by congressional members that this was not the intent of Congress, …
UPDATED: PPP Estimated Loan Forgiveness Calculator Read More »
May 1, 2020 Under the Paycheck Protection Program (PPP) provisions of the CARES Act, borrowers that pay certain covered expenses (payroll costs, benefits, rent, interest, and utilities) with PPP funds may have some or all of the loan forgiven. The CARES Act specifically states that amounts forgiven shall be excluded from the borrower’s taxable income. …
BREAKING: Critical Update Relating to PPP Forgiveness and Taxable Income Read More »
Thursday, April 30, 2020 By Dave Gaino, CPA | COVID-19 Response Team Recent headline news and updated FAQ’s from the SBA have brought the definition of the following statement into serious debate: “Current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” This was the statement that borrowers under …
Recent SBA FAQ’s Raise Questions About PPP Loan Fund Eligibility Read More »
Chuck and Brittany are joined (remotely) by Matt Hochstetler, an estate and trust attorney in Canton, discussing all thing estate planning. Matt talks about how people can plan estates in multiple states (Ohio and Florida, for example), tax considerations for Ohioans looking to spend winters in Florida, the benefits of establishing a trust, and much …
