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Deductible Expenses & Forgiveness for PPP Loans

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The latest guidance from the IRS states that expenses paid with funds received under the PPP loan program are not able to be deducted if you have received or expect full or partial PPP loan forgiveness. This places greater importance on proactive tax planning this year.

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Important CARES Act Dates for Local Governments

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We’re committed to ensuring our clients are informed on important legislation affecting their organization. With this in mind, we have gathered information regarding key CARES Act dates for local governments.

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PPP Forgiveness Flowchart

Feeling unsure about when and how to apply for loan forgiveness? We’re excited to share with you our new PPP flowchart designed to help guide you…

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Cash Flow Beyond the PPP: Why It Matters for Your Business

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As Paycheck Protection Program (PPP) loans run dry, many business owners are wondering what their cash flow will look like in the coming weeks and months. Thankfully, it’s possible to peek into the future to estimate your business’ cash flow.

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How COVID-19 Could Impact Your Qualified Opportunity Fund Investment

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The IRS has issued final regulations to clarify the rules surrounding QOFs and, more recently, guidance for QOFs and their investors in response to the COVID-19 pandemic. If you’ve considered investing in a QOF or are already invested in one, it’s important to understand how the final regulations and COVID-19 updates could impact you.

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Coronavirus Relief Fund Updates for Local Governments

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Over the past few weeks, the US Treasury Department and the Minnesota Management & Budget (MMB) have issued updated Coronavirus Relief Fund guidance. We’ve broken down some of the key items from this guidance that may be important for your organization.

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Webinar Recap: Practical Employer Response to COVID in the Workplace

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As the coronavirus pandemic continues to evolve, employers continue to face new challenges. Unfortunately, for some employers, these challenges will come in the form of an employee testing positive for COVID-19. Do you know how to appropriately respond if this were to happen in your workplace?

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What Local Governments Should Know About Reporting CARES Act Funds

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For many entities, the Coronavirus Relief Fund (CRF) has provided much-needed economic relief—or at least a bridge to next year’s budget. At the same time, however, the fund has also created a significant amount of confusion. Here’s what all Minnesota local governments should know about this MMB reporting requirement.

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How Will COVID-19 Impact Your Organization’s 2021 Budget?

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In the midst of the recent challenges, budgeting season looms, bringing with it a difficult question: How will COVID-19 impact your organization’s 2021 budget? Here are a few steps you can take to begin formulating an answer.

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Updated Payroll Forms & Processes

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In the workplace, the various stimulus packages, sick leave provisions, and other economic and governmental programs brought about by the pandemic have created a need for additional documentation and disclosures on certain payroll tax filings and forms. Learn about the resources you’ll need to ensure compliance and proper documentation based on IRS guidance.

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