Accounting Support During Remote Work Orders

May 4, 2021 | Tax

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...

New Employer Tax Credits Under CARES Act

May 4, 2021 | Tax

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...

Economic Injury Disaster Loans and Grants

May 4, 2021 | Tax

These grants provide an emergency advance of up to $10,000 to small businesses and nonprofits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL).    To access the advance, you first apply for an EIDL and then request...

Expanded CARES Tax Relief Information for Small Business Owners

May 4, 2021 | Tax

The CARES Act includes business tax relief including employee retention credits, delayed payroll payments, increased business interest deductibility, and accelerated recovery of alternative minimum tax credits among other forms of relief. The following paragraphs...

Benefit Plan Provisions in the CARES Act

May 4, 2021 | Audit, Benefit Plan Audits

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2.3 trillion aid package designed to help the economy as it suffers from the effects of the coronavirus pandemic, contains several provisions that affect employee benefit plans. Key provisions as...