Do you have a business that received a PPP loan and now you are considering a change in ownership, like a sale, purchase of a competitor or even adding a new partner? There are several different things that need to be considered before any transaction in order to preserve your ability to get PPP loan forgiveness. Here are the questions you should be asking before you sign on the dotted line.
The Small Business Administration (SBA) and Treasury released an updated Paycheck Protection Program (PPP) FAQ on Aug. 4 in an effort to address PPP loan forgiveness issues that have arisen as borrowers begin to complete their applications. The 23 FAQs address various aspects of PPP forgiveness including general loan forgiveness, payroll costs, non-payroll costs, and[ … ]
On June 10, 2020, the Small Business Administration (SBA) issued an updated interim final rule for the Paycheck Protection Program (PPP) in response to the PPP Flexibility Act passed on June 5, 2020. The updated guidance accounts for revisions made to the covered period, usage of funds changes, extended safe harbors, and more. Here is[ … ]
BeachFleischman’s CariAnn Todd joined Arizona Commerce Authority’s recent webinar – Arizona Small Business Boot Camp & Resource Collective Session #32.
BeachFleischman’s CariAnn Todd joined Arizona Commerce Authority’s recent webinar – Arizona Small Business Boot Camp & Resource Collective Session #23.
If your business has received an SBA Paycheck Protection Program (PPP) loan, now is the time to begin planning how you will allocate and document your spending over the relevant covered period to ensure you receive the maximum loan forgiveness. Work with our PPP Loan Task Force We have designed flat-fee consulting packages to help[ … ]
There have been many questions regarding Paycheck Protection Program (PPP) loans and the borrowers’ required good-faith certification concerning loan necessity. Concerns over the possible ramifications of applying for the loan and then having the Small Business Association (SBA) evaluate the certification after the fact have been front and center in the national dialogue. Today, the[ … ]
Errors. They are everywhere if you look closely enough. But there are common themes in most plan errors that auditors of large plans come across every year. This article addresses the most common errors, why they occur, and how they can be avoided. We have just finished another exciting season of auditing employee benefit plans[ … ]
The Department of Labor recently issued a report on its study of the quality of employee benefit plan audits. The study focused on 400 plan audits attached to 2011 Form 5500 filings. The results were less than impressive. The study found the following: 39% of audits contained major deficiencies in terms of compliance with U.S.[ … ]
Typically this time of year no one is praising the IRS. Many of us are still searching for those last few donation receipts or the 1099 we put somewhere we wouldn’t forget it, or scrambling to find the funds to pay a balance due. But April 2015 will be remembered by employers who sponsor retirement[ … ]