COVID Resources

News

Meet Alabama’s Top Talent CPAs

Business Alabama Abbreviated Article- – By Erica Joiner West With federal and state tax deadlines looming, April is one of the busiest months for certified public accountants in the country.  But the men and women who have the designation CPA after their names do more than just file paperwork with the Internal Revenue Service.  Accountants…
Read More

Possible Changes on the Horizon for Retirement Savings

The Biden Administration is currently looking at making changes to the tax incentives of saving for retirement. Treasury Secretary Janet Yellen recently announced the Administration is considering a proposal to replace the dollar-for-dollar tax deduction with a 26% credit. More details can be found here. What does this mean for you? If you expect to…Read More

Ready to Apply for PPP Loan Forgiveness? Stop and Reconsider

For the past several months, we have advised many clients to patiently wait on applying for PPP forgiveness. There were a number of uncertainties, including taxability of forgiven amounts and potential future legislation. Good news – The recently passed Consolidated Appropriations Act, 2021 made two major changes related to PPP forgiveness. The first is to clarify the…
Read More

Employee Retention Tax Credit- Understanding changes made by the Credit Consolidated Appropriations Act

Employee Retention Tax Credit- Understanding changes made by the Credit Consolidated Appropriations Act You may have seen or read about the Employee Retention Tax Credit (ERC) that was introduced with the CARES Act and clarified by the recent Consolidated Appropriations Act (CAA). The short version is, if your business was shut down or severely impaired…
Read More

PPP2 Application & Additional Guidance

Late on January 6th, the SBA issued 120 pages of guidance in the form of Interim Final Rules. The revised application for Paycheck Protection Program Part 2 was released on January 8th.

The SBA will begin taking applications on January 11th although only new borrowers in underserved communities will have access today and tomorrow. On Wednesday, January 13th, all eligible entities nationwide will be able to apply.