Keep all records related to PPP loans and forgiveness application
“Uncertainty” is a word that defines the era of coronavirus, but there is one thing that is certain: You must keep documentation of everything you do. Guidance continues to emerge, and more legislative changes have been made to the Paycheck Protection Program with the PPP Flexibility Act. How this will impact your loans or your […]
Midyear adjustments to health plans permitted due to COVID-19
Employers can now allow employees the opportunity to make midyear adjustment to their health insurance plans and flexible spending plans for the 2020 plan year, according to a notice issued by the IRS in response to the coronavirus crisis. The IRS issued its guidance on May 12, which relaxes the rules relating to election changes […]
Taking care during coronavirus
Businesses are slowly beginning to reopen and different areas are relaxing some of the requirements to shelter in place as a result of the COVID-19 health crisis. As we move into this next phase, it is important to remember that seniors and individuals with underlying health conditions remain vulnerable to coronavirus, but also to remember […]
Coronavirus and Economic Impact Payments FAQs from IRS
Click below for a list of frequently asked questions regarding coronavirus-related economic impact payments and other resources from the IRS.gov website: https://www.irs.gov/coronavirus/coronavirus-and-economic-impact-payments-resources-and-guidance
Coronavirus relief efforts create rich environment for fraud
Between economic impact payments, small business loans through the Paycheck Protection Program, emergency sick and leave requirements, and other coronavirus-related relief efforts, we are in a target-rich environment for fraud. Everything is moving very quickly, and individuals and business owners desperately need financial relief being offered by the government, banks, and employers. Fraudsters will take […]
Tips for keeping cash flowing in restaurants
We are aware of the significant impact the COVID-19 pandemic is having on McDonald’s owner/operators and the restaurant industry in general. McDonald’s Corp. has provided some relief with rent deferrals and suspension of major remodeling projects. There are other ways, as well, that owner/operators can manage cash flow in your restaurants while traffic is diminished […]
Beware of scammers profiting from coronavirus
As individuals, businesses, local governments and other organizations commit to social distancing measures, there are those who will seek to profit from the coronavirus pandemic. Circumstances are changing daily and the flow of information is constant, which makes it critical that you remain vigilant against various scams surrounding the COVID-19 outbreak. Below are some examples […]