As of May 22, 2020, the Small Business Administration (SBA) was estimating that approximately $140 Billion dollars are still available in the Paycheck Protection Program (PPP) for small businesses. If you were not submitting your application for the PPP loan due to rumors t...

This past weekend the SBA released the PPP Loan Forgiveness Application. Join Boyum Barenscheer's COVID-19 resource team for this webinar as we dive into the application and how it changes the rules related to owner compensation, FTE counts, the 8-week covered period, non-pa...

SBA came out with the PPP forgiveness application late Friday, which provides some of the guidance that we’ve been waiting for since the program started in late March. Plan to watch our webinar on Tuesday for more details....

Guidance on PPP loans has been a whirlwind to say the least.  Many people submitted applications based on the rules at the time, and then had the rules change after the fact.  The SBA just published new guidance on May 13thwhich will allow some of those situations to be re...

Since the CARES Act passed in late March Congress has been silent. Now the Congress is starting to work on a new phase of legislation and potentially clean up some of the issues that came out of the CARES Act.  All of these are just proposals, but it will give you an idea o...

Good news from the SBA this morning on PPP loans.  They said that PPP loans less than $2 million will have been deemed to have made the required good faith certifications regarding the necessity for the loan request.  Below is the entire Frequently Asked Question guidance ...

The novel coronavirus (COVID-19) crisis has put enormous financial stress on many not-for-profits — whether they’re temporarily shut down or actively fighting the pandemic. If your nonprofit cash flow slowed down or stopped, your organization may need to do more than tri...

We hope you all are doing well and weathering the storm caused by the COVID-19 pandemic. We want to share a few important updates with our nonprofit clients. There’s a lot going on and things seem to change continually regarding PPP updates for nonprofit organizations. ...

The employee retention credit is a refundable credit of 50% of up to $10,000 in qualified wages (qualified health plan expenses included), or a maximum of $5,000 per employee.  This credit is available against wages paid from March 12, 2020 through December 31, 2020.  Ther...

Before the novel coronavirus (COVID-19) pandemic struck, employees who suspected occupational fraud in their organizations had multiple options for notifying their employers. For example, they could use interoffice mail to send information anonymously or meet with HR personn...

We have clients that continue to be resilient and have had minimal impact to their business so far as a result of COVID 19.  Many businesses either have applied or are considering applying for the PPP loan because of continued uncertainty in their business.  As part of the...

Congress passed the CARES Act and a big part of it was the Paycheck Protection Program (PPP) loans.  If you spent the PPP money on payroll costs plus rent and utilities or mortgage interest, you could have the money spent from the PPP loan on these costs forgiven.  We’ve...