The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less, which the SBA reports account for 93% of outstanding PPP loans. The guidance comes at a time when many borrowers are nearing a critical deadline regarding their applications for forgiveness.
As businesses move beyond operating in pandemic crisis mode, many are facing a significant financial aftermath and considering their options. If you haven’t yet taken advantage of all available programs to help your company, it’s not too late for some assistance.
Sam North to Become New Managing Shareholder
(Kirkland, WA) Sweeney Conrad, PS, an award-winning Eastside accounting firm, has announced that they will begin a transition in leadership on November 1, 2021, after the close of their current fiscal year. Sam North, CPA will succeed John Forrest, CPA, who has acted as President and Managing Shareholder at Sweeney Conrad since October 1, 2014.
When a company is involved in litigation—as either a plaintiff or a defendant—it is essential that the management team and legal counsel consider the potential tax implications of the action as early as possible. Advance planning and consultation can have a major impact on both the tax treatment of any proceeds and the deductibility of attorneys’ fees and other expenses.
In addition to causing untold health and economic damages, the COVID-19 pandemic has had a profound—and possibly permanent—impact on many longstanding workplace practices. For example, although working from home began as a temporary emergency response, a number of high-profile companies now say they plan to continue the practice in their post-pandemic operations.
President Biden recently announced his $1.8 trillion American Families Plan (AFP), the third step in his Build Back Better policy initiative. The announcement followed the previous releases of the proposed $2.3 trillion American Jobs Plan and the Made in America Tax Plan. These plans propose major investments in various domestic initiatives, such as expanded tax credits for families, offset with tax increases on high-income individual taxpayers and corporations.
March is National Women's History Month! In celebration and in honor of the millions of amazing women impacting the world every day, we asked our team members: "Who is a woman who inspires you?" The following is a collection of the responses we received.
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The recently approved American Rescue Plan Act includes a $25 billion grant program created to help restaurants and bars affected by the pandemic. This fund, known as the Restaurant Revitalization Fund will be administered by the SBA. Here is what you need to know: