May 4, 2021 | Uncategorized
Initial guidance in the legislation indicates that a borrower should submit to their lender an application to request loan forgiveness and supply the lender with the following documentation relating to the covered period: Documentation verifying the number of FTE and...
May 4, 2021 | Uncategorized
In addition to the permitted use of Paycheck Protection Program (PPP) funds, a sole proprietor may use PPP funds for owner compensation replacement per the following guidelines below: Owner compensation replacement for a sole proprietor is defined as 2019 Schedule C...
May 4, 2021 | Uncategorized
Changes are everywhere due to COVID-19 including regularly scheduled filing deadlines which are now being adjusted by the government. One of the most significant for nonprofits with federal funding is a six-month submission extension on any OMB compliance audits that...
May 4, 2021 | Uncategorized
COVID-19 has presented challenges that many businesses and organizations never contemplated. Bookkeeping and accounting functions,while working remotely, may be one of the many critical tasks you’re struggling to figure out. In this time of crisis, keeping your...
May 4, 2021 | Uncategorized
Many businesses that have been severely impacted by coronavirus (COVID-19) will qualify for two new employer tax credits – the Credit for Sick and Family Leave and the Employee Retention Credit, both a result of the new CARES Act. McConnell & Jones is keeping a...
