December 8, 2020
Helping Businesses Weather a Pandemic: The Paycheck Protection Program
The Paycheck Protection Program was created under the CARES Act early in the pandemic to help businesses and their employees. IRS guidance hasn’t always aligned with Congressional intent regarding the program. RubinBrown tax professionals outline how to approach and take advantage of the program in a way that makes the most business sense.
Continue Reading @ Bloomberg Tax
December 8, 2020
Higher Ed Institutions & the Momentum of M&A Activity
This fall, stories of campuses trying to manage students during COVID-19 are top of mind. Making decisions during this time has not been easy, and there is a lot that students, parents of students, faculty, staff and administrators have been discussing. In many cases, the decisions have placed people in situations that appear to have no clear solution. Of course at this time, a lot of the impacts and outcomes to students are unknown.
Continue Reading @ University Business
September 18, 2020
Corporate governance in COVID-19: Cybersecurity and technology considerations
Cybersecurity oversight is a key fiduciary responsibility for a board of directors and was a significant concern for companies even before the COVID-19 pandemic forced so many organizations to suddenly shift to remote work.
Continue Reading @ The Journal of Accountancy
July 7, 2020
A 6-Point Security Checkup for Working from Everywhere
No one has ever seen a year like 2020. These are unprecedented times for all of us — individuals, families, and organizations alike. As we continue adapting to the changing conditions, it is important for organizations to review the actions they have taken in response to the COVID-19 pandemic and assess the effects of those actions on the organization’s cybersecurity posture.
Continue Reading @ Journal of Accountancy
May 15, 2020
Construction After Shutdown
We are entering a point where everyone is thinking about getting back to work and leaving our work-from-home experience. That is a good thing to think about! But what is the most efficient and profitable way to do that while keeping your employees, customers and subcontractors safe? Here are a few tips to make that happen.
Continue Reading @ Associated General Contractors of America, Missouri Chapter
Apr 15, 2020
Ten Things We Need To Know About Paycheck Protection Program Loan Forgiveness
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Securities (CARES) Act, a $2.3 trillion relief package designed to help individuals and businesses weather the economic damage caused by the COVID-19 pandemic.
Continue Reading @ Forbes.com
Apr 13, 2020
Reversed Elections, Amended Returns, And NOL Carrybacks: The IRS Provides Guidance On CARES Act Tax Changes
Over the past two weeks, we tax people have had to wade into some uncomfortable waters, focusing our collective attention away from the Internal Revenue Code of 1986 and towards strange and intimidating bodies of law like the Small Business Act of 1953 and the Family and Medical Leave Act of 1993.
Continue Reading @ Forbes.com
Apr 11, 2020
IRS Publishes FAQ On Payroll Tax Deferral; Provides More Immediate Cash To Businesses
There’s no way to sugarcoat it: sometimes tax planning can get really, really complicated.
Continue Reading @ Forbes.com
Apr 5, 2020
Paycheck Protection Program Loans: Three Things The SBA And Banks Need To Agree On Now
This past Friday, the federal government rolled out its Paycheck Protection Program (PPP), which was designed by the recently-enacted CARES Act as a way to get $350 billion into the hands of small business owners.
Continue Reading @ Forbes.com
Mar 25, 2020
Congress Reaches Agreement On A Coronavirus Relief Package: Tax Aspects Of The CARES Act
A nation desperate for any reason for optimism got just that on Wednesday evening, with word that Congress had finally agreed upon a stimulus package designed to reverse the devastating impact of the COVID-19 pandemic. The Senate overwhelmingly passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and the House is set to do the same on Friday, paving the way for the President to sign the bill into law.
Continue Reading @ Forbes.com
Mar 23, 2020
House, Senate Coronavirus Relief Bills Offer Different Cash Payouts To Individuals
On Sunday, the Senate failed to move forward on Majority Leader Mitch McConnell’s CARES Act, which in addition to its many business breaks and tax law changes, would have ordered the IRS to cut an immediate stimulus check to most American adults.
Continue Reading @ Forbes.com
Mar 23, 2020
Little-Known Tax Law Allows Employers To Make Tax-Free Payments To Employees To Cover Covid-19 Expenses
If you’re a business owner, life is nothing if not uncertain at the moment. Like the rest of us, you’re worried about how you and your loved ones will manage the COVID-19 pandemic, but at the same time, you’ve got the added concern of the physical and financial well-being of your employees.
Continue Reading @ Forbes.com
Mar 23, 2020
How Coronavirus Is Impacting the Construction Industry
COVID-19 (officially SARS-CoV-2 or also the novel Coronavirus) is disrupting everyday business and life as we know it.
Continue Reading @ CONSTRUCTIONEXEC.com
Mar 20, 2020
Mitch McConnell Wants To Give Everyone Some Cash: How Would It Work?
It goes without saying that these are crazy times. Twenty percent of the country is on lock-down to prevent the further spread of COVID-19. Businesses are shuttered; layoffs massive. The stock market has lost all of the value it’s gained since 2016, and Goldman Sachs predicts -24% GDP for the second quarter.
Continue Reading @ Forbes.com
December 8, 2020
Online Gaming & the Lessons Learned for Future Policy Makers
At the beginning of the year, the world was celebrating the return of the roarin' 20s with Great Gatsby-themed New Year's celebrations and economists forecasting continued economic expansion for the foreseeable future. Little did we know that headlines beginning to emerge in the Asia-Pacific markets would ultimately bring the entire world to a halt and redefine our sense of security, social norms, and the way of doing business.
Continue Reading @ Gaming & Leisure Magazine
December 21, 2020
Covid Relief Bill Adds PPP Tax Breaks the Treasury Opposed
Lawmakers extended an additional lifeline to small businesses in the next round of Covid stimulus: more forgivable loans and the ability to take a tax write-off for covered expenses.
Continue Reading @ CNBC
May 20, 2020
What St. Louis CPAs are Advising PPP Borrowers Amid Ever-changing Rules
With rules for Paycheck Protection program loans and their eligibility for forgiveness changing every few days, St. Louis CPAs urge caution on how businesses spend the money and the importance of documenting it.
Continue Reading @ St. Louis Business Journal
September 18, 2020
Covid-19 Challenges Cause Denver Accounting Firms to Pivot, but End-of-Year Uncertainty Remains
Accounting firms are acting more and more as business advisors during the pandemic. But, there's still uncertainty over taxes and the end of the year.
Continue Reading @ Denver Business Journal
Apr 14, 2020
Self-employed and need a Covid-19 relief loan? You should wrap up your 2019 taxes right now
Here's one reason for self-employed people to start their 2019 tax return: The bank might want it when you apply for the Paycheck Protection Program.
Continue Reading @ MSN.com
Apr 14, 2020
Small businesses across St. Louis await forgivable loans, but some worry they’ll be saddled with new debt
Over the weekend, Chip Self’s company was approved for a forgivable small business loan worth several hundred thousand dollars.
But after reading the loan contract, the owner of Valley Park-based Logic Systems Sound and Lighting Inc. doesn’t plan to touch the money, at least not until the U.S. Small Business Administration clarifies how the loan forgiveness Congress promised actually works.
Continue Reading @ STLToday.com
Apr 11, 2020
Multibillion-Dollar Tax Muddle Hovers Behind Small-Business Loan Program
A tax ambiguity that could amount to tens of billions of dollars or more is lurking in the small-business loan forgiveness program the government is using to combat the economic impact of the coronavirus pandemic.
Continue Reading @ WSJ.com
Apr 6, 2020
Are Guaranteed Payments ‘Payroll Costs’ for New CARES Act Loans?
Interim guidance on the new forgivable loans to small businesses under the latest coronavirus legislation answers basic questions but leaves some issues on the table for entities taxed as partnerships.
Continue Reading @ taxnotes.com
Mar 31, 2020
COVID-19 Tax Extensions May Cause Admin. Headaches
Despite the IRS' extension of tax filing and payment deadlines in response to the novel coronavirus pandemic, the lack of deadline uniformity for informational returns and estimated tax payments for 2020 will add complexity for corporations and individuals.
Continue Reading @ law360.com
Mar 27, 2020
Coronavirus relief bill gives small businesses more time to cover payroll taxes
Small businesses facing payroll tax payments will get some relief from Congress – the option of deferring payment to Uncle Sam until next year.
Continue Reading @ CNBC.com