Employee Retention Credit (ERC) and Paycheck Protection Program (PPP) loans

With the new legislation from the Consolidated Appropriations Act, there could be an opportunity from some business to to receive additional relief through the Employee Retention Credit. Notable changes specific to the Employee Retention Credit include: Extension of the Employee Retention Credit through June 30,2021 Increased credit rate from 50% to 70% of qualified wages […]

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Consolidated Appropriations Act, 2021 (COVID-19 Relief Bill)

The U.S. Senate and House of Representatives passed a $900 billion COVID-19 relief bill last night that includes some major tax provisions, including pandemic-related relief, extensions of expired provisions, and a large number of miscellaneous items. Key provisions in the bill include: $325 billion in aid for small businesses struggling after nine months of pandemic-induced […]

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Can the COVID-19 Vaccine Be Mandatory

As COVID-19 vaccines become available, employers may require vaccines before employees return to the worksite if the employer believes that failure to be vaccinated constitutes a direct threat to other employees. Employees wonder whether they’ll be required to get a COVID-19 vaccination if they want to keep their jobs. Basically, employers can set working conditions, […]

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Restructuring Debt as a Business Strategy

Many businesses are facing the financial effects of the Covid-19 pandemic. The loss of clients and decreased cash flow have forced businesses to make some hard choices that involve restructuring debt either in- or outside of bankruptcy or simply closing the doors. Key Considerations The first task for company leaders is leaving their emotions aside […]

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Payroll Tax Holiday and Unemployment Boost Are in Flux

On Aug. 8, the White House issued a series of memorandums and executive orders to provide relief while Congress continued to debate legislative action. However, there are limits regarding what can be done in the absence of congressional approval, and that has led to confusion about what exactly is being provided. The most significant and […]

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Guiding Your Company to the New Normal

When the COVID-19 pandemic begins to finally ease, will your business be ready to ramp up operations? The real question here, of course, is whether businesses will be able to operate the way they’ve traditionally operated. Company leaders must strategically plan for what’s next — the “new normal.” What Is the New Normal? What does […]

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Don’t Rush PPP Loan Forgiveness Applications

Many borrowers who received the Paycheck Protection Program (PPP) loans under the CARES Act are understandably restless to apply for loan forgiveness. There are are many factors affecting the forgiveness application process such as: Most lenders do not have the technology in place to process the forgiveness applications. Until the Small Business Administration and the […]

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Is the COVID-19 Pandemic Affecting M&A?

Around the world, businesses are emerging from various pauses and lock downs, some in better shape than others. Many businesses continue to grow and prosper, and many likely are doing so through a merger or acquisition. Others are looking to merge into or be acquired by other businesses. The M&A market was active before the […]

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FAQ: COVID Related Retention Credits with Other Relief Provisions

Can an Employer that receives the Paycheck Protection Program loan receive the Employee Retention Credit as well?  No, the provisions do not allow for an employer to receive the Employee Retention Credit if the employer also receives the PPP loan. Under the aggregation rules we are treated as a single employer. If one of the […]

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