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Category: Business Management

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December 31, 2020
PPP Loans Under $150K

The COVID19 Relief bill includes some changes  to PPP loans under $150K.  These changes apply to both the original PPP loans and the PPP second draw which should be available sometime in January....

December 31, 2020
More Good News for SBA 7(a) Loans

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...

December 31, 2020
Did you get the EIDL Advance from the SBA?

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...

December 30, 2020
Ring in the New Year with a Renewed Focus on Profitability

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...

November 2, 2020
Controls Are Ineffective When Managers Go Rogue

Management overrides of internal controls can make your company more vulnerable to fraud. This is true even when managers have innocent intentions — for example, they don’t feel they have time to follow proper accounts payable procedures because a vendor is requesting im...

October 23, 2020
PPP Loan Forgiveness Timing

They say timing is everything. Is that true for PPP Loan forgiveness timing? There really has not been any law changes or updates to the PPP program recently other than the blog we have up about the ownership changes (link here) and the change for the PPP loans under $50k (...

September 23, 2020
IRS Announces Per Diem Rates for Business Travel

In Notice 2020-71, new business travel per diem rates were recently announced by the IRS. These that can be used to substantiate the amount of business expenses incurred for travel away from home on or after October 1, 2020. Employers using these rates to set per diem allowa...

August 6, 2020
Washington County Small Business Relief Grant Program

Washington County is launching a $10 million program to provide grants to small businesses within the county to help them recover from the ongoing impacts of COVID-19. The fund will provide one-time grant awards of up to $15,000 are available to eligible applicants to assist...

August 4, 2020
PPP Forgiveness FAQ Guidance August 4, 2020

We just got new guidance from the SBA that covers a bunch of the outstanding questions we’ve had about PPP Loan Forgiveness. Let’s go through a quick overview of the key points that seem most important to us. ...

August 3, 2020
Ramsey County Provides Small Business Relief

Ramsey County is providing emergency assistance to small local businesses adversely impacted by the COVID-19 pandemic. ...

July 30, 2020
Small Business Emergency Funding for Hennepin County

Hennepin County is announcing the availability of $10 million towards a new round of emergency funding for small businesses impacted by COVID-19....

June 23, 2020
Minnesota Small Business Relief Grants

On the first day of the June special session, the MN Legislature passed the Minnesota Small Business Relief Grants Program which was signed by Gov. Tim Walz shortly after. The program sets aside more than $60M in funding to give $10,000 grants to small businesses in Minneso...