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 Bob Armstrong, Commercial Audit Partner  Accountability - "Extreme Ownership"   For me, accountability is about owning everything that comes to me and falls under me. I own absolutely everything. And I’ll never pass the blame on to somebody else.  These ideas are...

On Thursday, June 17th, President Joe Biden signed a bill to recognize Juneteenth as a Federal holiday. Juneteenth commemorates the end of slavery in Texas and has been celebrated since 1886. Throughout history, Juneteenth has been known by many names: Jubilee Day,...

McConnell Jones’ Managing Partner, Wayne McConnell, has been appointed to the Community Impact Committee for the United Way of the Gulf Coast. For nearly 100 years, United Way of Greater Houston has brought together diverse partners and approaches to get to the root...

On April 24th, Wayne and Judy McConnell virtually attended Memorial Hermann’s Circle of Life “Stars Among Us” Gala. Before the event, Wayne and Judy were delivered a ‘Rock Star’ kit to join the festivities from home! McConnell Jones supported this gala which honored...

McConnell Jones recognizes Thomas Jones, Tax Partner, for his appointment to the Houston Fund for Social Justice and Economic Equity. As President of the board, Jones will lead the initiative of raising $25 million through private donations, aimed at accelerating...

As McConnell Jones rebrands with a new website, graphics, and color scheme, we have also made changes to our social media pages. MJ connects with nearly 3000 followers on LinkedIn, including most of our employees and it is our most used platform. Because of this, we...

Organizations who received a Paycheck Protection Program (PPP) loans should look to maximize their loan forgiveness.  The following outlines five key steps for PPP Loan forgiveness; look over these steps now to prepare for maximum loan forgiveness:   Step 1: Track...

The Paycheck Protection Program (PPP) Loans are helping many businesses keep their workforce employed during the COVID-19 crisis.   Earlier this week, congress provided the SBA with an additional $320 billion for the PPP Loan program to backstop the initial $349...

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...

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...

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...

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...

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...

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...

The Paycheck Protection Program (PPP) is an SBA Loan that helps businesses keep their workforce employed during the COVID-19 crisis.  The government will forgive all PPP loans if all employees are kept on the payroll for eight weeks and the money is used for payroll,...