Contact Us Follow Us :      | Find Us |
CBIZ Tofias

Subscribe to Our Blog

Client Satisfaction Survey Results

ClientSatisfaction_new

Follow Us

Mass. Governor signs bill that ends state tax on PPP grants for individuals and business owners
Posted by Tarra Curran on Wed, Apr 7, 2021 @ 01:28 PM

The Paycheck Protection Program (PPP) created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act and extended by the December 2020 year-end appropriations bill provides a direct incentive for small businesses to keep their workers on payroll. It is backed by the Small Business Administration (SBA) and provides potentially forgivable, low-interest loans for small to medium-sized organizations who can demonstrate expenses were used toward retaining their headcount.

Read More

Topics: Tarra Curran, Independent Contractor, COVID19, Coronavirus, Coronavirus Aid, Relief, and Economic Security Act, PPP Loan, Small Business Administration, PPP Loan Forgiveness, Payment Protection Program

IRS Issues New Guidance on When PPP Loan Expenses Are Deductible
Posted by Barret Pinto on Thu, Dec 17, 2020 @ 03:48 PM

On Nov. 18, 2020, the IRS weighed in on whether expenses used to support Payroll Protection Program (PPP) loan forgiveness are deductible, assuming the forgiveness occurs in the year after the expenses are incurred. In Rev. Rul. 2020-27, the IRS doubled down on its previous position by holding that expenses incurred in the year prior to forgiveness are also nondeductible.

Read More

Topics: Barret Pinto, PPP, PPP Loan Forgiveness, Payment Protection Program

11 Accounting Challenges Arising from COVID-19
Posted by Mark Winiarski on Tue, Aug 18, 2020 @ 05:38 PM

When organizations are financially struggling or affected by external events, several accounting considerations come into play. External events arising from the COVID-19 pandemic and its disruption could intersect with several components of accounting. A brief summary of possible considerations are described below.

Read More

Topics: goodwill impairment, going concern, income tax accounting, Revenue recognition, COVID19, Coronavirus, financial statement disclosures, SEC, PPP Loan, Payment Protection Program, credit loss

Popular Posts