Net Operating Losses and Qualified Improvement Property – VIDEO
Join Dent Moses Managing Partner, Mike Baker, as he discusses Net Operating Losses and Qualified Improvement Property around the CARES Act. Watch Now.
Santa Finally Brings Something We Can All Use – PPP Relief!
Lawmakers finally ended months of negotiations to agree on a $900 billion Covid stimulus package. The bill is referred to as “The Consolidated Appropriations Act, 2021”. Changes to the PPP program included in the stimulus package include:
Dent Moses is Here to Help with PPP Forgiveness Applications
Most banks have opened their PPP Forgiveness online portals and many clients are ready to apply for forgiveness of PPP loans. We are here to help. Our tax and accounting advisors have spent the past 8 months following the PPP loan program as it was enacted, funded, and went through a series of changes over…
Read More
Assistance with SBA Paycheck Protection Loan Forgiveness
While we continue to wait for final guidance, entities with PPP loans over $150,000 may want to begin the forgiveness process. The first step is gathering the information needed to complete the application. The rules and calculations can be complex. Calculation and documentation errors can mean exposure and reduced forgiveness. For loans under $150,000, there…
Read More
Governor Ivey Announces $200 Million Small Business Grant Program “Revive Plus”
Governor Ivey Announces $200 Million Small Business Grant Program “Revive Plus” On Wednesday, Governor Kay Ivey announced Revive Plus, a $200 million grant program to support small businesses, non-profits and faith-based organizations in Alabama that have been impacted by COVID-19. Revive Plus is the second wave of funding for these organizations with 50 or fewer…
Read More
PPP Update – Loan Forgiveness & Tax Planning
Dent Moses partners Mike Baker and James Moody, along with Nicole Reed of Capital Solutions discuss current Paycheck Protection Program Loan Forgiveness guidance as well as tax planning related to PPP. This update was recorded on 10.8.2020.
IRS Issues Guidance on Payroll Tax Deferral
Join Dent Moses Managing Director, Mike Baker as he discusses this new guidance. Late last Friday, August 28, 2020, the IRS issued guidance on President Trump’s payroll tax deferral memorandum.
IRS Posts Information on Check Processing, 2019 Return Backlog, and Incorrect Notices
The IRS is working through a backlog of paper-filed 2019 tax returns, checks, and correspondence resulting from a COVID-19 related shutdown in mid-March. It has been reported that the IRS had as much as 12 million pieces of unopened mail waiting to be processed.
Additional Guidance Required on Trump’s Payroll Tax Deferral
On August 8, 2020, an executive order was signed that called for deferring the collection of employee’s payroll taxes – specifically the FICA portion (6.2%). Accountants, employers, payroll service providers all await additional guidance to prepare for the September 1st implementation date. Details are sparse but here are general points: Treasury Secretary Mnuchin says deferral…
Read More
COVID-19 and Occupational Tax
Join Mike Baker as he discusses occupational tax issues related to COVID-19 and remote work. One addition to video content – The city of Bessemer also has an occupational tax.