The big COVID 19 relief bill that just passed December 27th had a lot of big-ticket items in there, mostly for businesses and then the stimulus checks for individuals.  One of the overlooked items are some interesting changes to the way some individual tax credits are going...

The new COVID Stimulus Bill signed by President Trump on December 27, 2020 brought more good news for businesses with SBA 7(a) loans.  The SBA paid 6 months of payments for borrowers during 2020, and the payments on these loans are NOT going to be included in taxable income...

With the new COVID stimulus package, if eligible, you will be getting another stimulus payment from the government, also known as Economic Impact Payments.  Distribution of payments have already started and should come the same way you got the first one.  The new amount th...

When the pandemic first hit, the CARES Act created funding for the SBA to provide a $10K grant to all businesses.  Due to the funding running low, the SBA had to make a stipulation to reduce the amount to $1K per employee.  If you were a company affected by this stipulatio...

Some might say the end of one calendar year and the beginning of another is a formality. The linear nature of time doesn’t change, merely the numbers we use to mark it. Others, however, would say that a fresh 12 months — particularly after the arduous, anxiety-inducing n...

Join CPAs Chris Wittich and Stacy Shaw along with members of the Boyum Barenscheer COVID-19 resource team for this informational webinar on the new stimulus bill updates, PPP, unemployment, grants and more! The team will walk through all the pertinent items and how it will a...

If your charity or association depends financially on membership fees, you know that nonprofit member renewals are important. Non-renewals are cause for concern. During this time of economic and occupational insecurity, you may be experiencing membership drop-offs and some a...

If the events of 2020 have taught not-for-profits anything, it’s that financial reserves are essential to long-term survival. An endowment is different from operating reserves and generally is designed to provide steady income to a nonprofit while its core investments grow...

Minnesota lawmakers passed a much-needed COVID relief bill on Monday, December 15, allocating $88 million of assistance to restaurants, bars, gyms and fitness centers....

Holiday-inspired generosity and the desire to reduce tax liability makes the end of the year a busy time for charitable giving. According to Network for Good and other sources, approximately 30% of nonprofit donor gifts are made in December alone. An important part of proces...

It’s been a tough year for not-for-profits. Many have experienced an increased demand for services just as revenues have plummeted. Until the COVID-19 pandemic is over, your organization’s board of directors will likely play a special role in ensuring that it remains on ...

With the new developments regarding PPP, make sure you are aware of the details of the updates.  We have highlighted some of the resources we have created and we can show you how we can assist you with your PPP Loan Forgiveness....