On November 18, 2020, the IRS issued Rev. Rul. 2020-27, directing that a taxpayer that receives a PPP cannot deduct expenses paid for with a PPP loan in the year they were incurred if the taxpayer reasonably expects to receive forgiveness of the loan. In conjunction with this guidance, the […]
The pandemic has been a harsh reminder that life is unpredictable and can change at any moment. This global health crisis has had a significant impact – physically, mentally, and financially – on all of us. Unfortunately, we all know someone who has lost a family member, friend, co-worker or […]
PPP Flexibility Act gives PPP recipients greater flexibility on loan forgiveness. Read more here: View PDF
Many businesses currently have a comprehensive employee handbook detailing the firm’s policies and practices for virtually every aspect of an employee’s employment with the firm. Here’s why firms should consider supplementing these handbooks with a “reopening handbook” before reopening for business in the COVID-19 era. As many states are starting […]
With initial disbursements of Round 2 PPP loans being dispersed, businesses may want to consider additional liquidity-preservation options but should remain mindful of how their decisions could impact existing credit facilities. With the news Tuesday that the Small Business Administration has approved more than 475,000 Paycheck Protection Program loans totaling […]
