Accounting for PPP Loan Funds

Millions of small businesses received loans under the Small Business Administration (SBA) Paycheck Protection Program (PPP loans), and questions are being raised on how to account for the funds. In June 2020, the American Institute of Certified Public Accountants...
Paying off Debt the Smart Way

Paying off Debt the Smart Way

With a potential economic downturn in the wings due to COVID-19, being debt-free is a worthwhile goal. Unfortunately, between mortgages, car loans, credit cards, and student loans, this is unrealistic for most people – especially those of pre-retirement age....
Q & A: Returning an Economic Impact Payment

Q & A: Returning an Economic Impact Payment

According to the Treasury Department, more than 159 million individuals have already received their Economic Impact Payments; however, a recent audit found that the IRS sent $1.4 billion in stimulus checks to deceased individuals. As such, many people may have...

Employee Retention Credit Deadline July 31

As a reminder, employers whose business has been financially impacted by COVID-19 can take advantage of the Employee Retention Credit, a refundable tax credit designed to encourage businesses to keep employees on their payroll. The credit is worth 50 percent of up to...