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April 2020
Nonprofits: Navigate COVID-19 obstacles with virtual board meetings
The novel coronavirus (COVID-19) pandemic has forced many of us to work differently — whether it’s isolated at home or in-person wearing facial masks and other protect
Adjust your expectations of business interruption coverage
A natural place to turn when disaster strikes is insurance.
Hiring independent contractors? Make sure they’re properly classified
As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low.
IRA account value down? It might be a good time for a Roth conversion
The coronavirus (COVID-19) pandemic has caused the value of some retirement accounts to decrease because of the stock market downturn.
Considerations for PPP Recipients/Applicants based on new SBA Guidance issued April 23, 2020
President Trump signed the Paycheck Protection Program and Health Care Enhancement Act (“Enhancement Act”) on April 24th.
Going, going, gone: Going concern assessments in the midst of COVID-19
The novel coronavirus (COVID-19) pandemic has adversely affected the global economy.
Here’s how to handle gifts in kind and donated services
As unemployment and financial insecurity become widespread during the novel coronavirus (COVID-19) crisis, many not-for-profit donors find themselves unable to provide
IRS extends some (but not all) employee benefit plan deadlines
The IRS recently issued Notice 2020-23, expanding on previously issued guidance extending certain tax filing and payment deadlines in response to the novel coronavirus
Answers to questions you may have about Economic Impact Payments
Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS.
New COVID-19 law makes favorable changes to “qualified improvement property”
The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for many improvements to interior parts of nonresiden
Adjusting your financial statements for COVID-19 tax relief measures
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the no
Donor care during the COVID-19 pandemic
One of the many challenges of operating a not-for-profit organization during the coronavirus (COVID-19) pandemic is that just when you desperately need financial suppo
What are the key distinctions between layoffs and furloughs?
As businesses across the country grapple with the economic fallout from the novel coronavirus (COVID-19) pandemic, many must decide whether to downsize their workforce
COVID-19: IRS announces more relief and details
In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being.
Relief from not making employment tax deposits due to COVID-19 tax credits
The IRS has issued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under
Questions to ask when making COVID-19 risk disclosures
Efforts to contain the spread of the novel coronavirus (COVID-19) have led to suspension of many economic activities, putting unprecedented strain on businesses.
Surviving the COVID-19 crisis: A nonprofit action plan
Although most not-for-profits have been hurt by the coronavirus (COVID-19) pandemic, your organization’s specific challenges probably depend on your mission, constitue
Just launched: The SBA’s Paycheck Protection Program
To stem the tide of joblessness caused by the coronavirus (COVID-19) outbreak, the Small Business Administration (SBA) has officially launched the Paycheck Protection
CARES ACT changes retirement plan and charitable contribution rules
As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax c
Employee Retention Tax Credit (ERTC) for Employers
The Coronavirus Aid, Relief, and Economic Security Act (CARES) provides relief for many areas of the economy. One aspect – the Employee Retention Credit for Employers
Answers to questions about the CARES Act employee retention tax credit
The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to
CARES Act provides option to delay CECL reporting
The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27.
Treasury Releases Paycheck Protection Program (PPP) Loan Application Form
On March 31, 2020, The Department of Treasury released the “Paycheck Protection Program” loan application form and provided some additional guidance. However, The Sm
CARES Act offers new hope for cash-strapped nonprofits
On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law.
Using your financial statements during an economic crisis
The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions.
Cash payments and tax relief for individuals in new law
A new law signed by President Trump on March 27 provides a variety of tax and financial relief measures to help Americans during the coronavirus (COVID-19) pandemic.
