The following is a summary of the legislation’s main points that was passed yesterday: PPP borrowers can choose to extend the eight-week period to 24 weeks, or they can keep the original eight-week period. This flexibility is designed to make it easier for more borrowers to reach full, or almost full, forgiveness. The payroll expenditure…

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Although 2019 is behind us, here are some actions you may take before tax season to improve YOUR tax situation for 2019 and beyond. Increase 2019 itemized deductions via a “bunching strategy.”  Many taxpayers who claimed itemized deductions in prior years will no longer be able to do so. That’s because the standard deduction has…

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5 reasons borrowers shouldn’t rush their PPP forgiveness applications Posted by AICPA Communications on Jul 14, 2020 This blog post explains why borrowers shouldn’t rush their PPP loan forgiveness applications. Please share with clients who participated in the program. Borrowers who received Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security…

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For Dental Practices! It looks like those providers who may not bill Medicare or Medicaid are not able to apply for HHS funds through the following link: apply for funding through the Enhanced Provider Relief Fund Payment Portal The requirements are outlined below: A reminder that you must act quickly if you are eligible now.…

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