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Category: PPP-related

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Coronavirus Relief Bill Includes Welcomed Surprise for Craft Distilleries 

By: Parker Banta, CPA and Derek Gray, CPA Federal Excise Tax Rate Late Monday night, the long-awaited $900 billion coronavirus relief package was overwhelmingly passed. Neatly buried in the nearly 6,000-page bill are provisions that will permanently reduce the Federal Excise Tax (FET) rate on spirits sold by distillers across the United States. This news […]

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Summary – $900 Billion COVID Relief Package

By: Madison Contri, CPA, Alan Zgoda, CPA, and Derek Gray, CPA On Sunday, after weeks of gridlock, Congressional leaders announced a compromise has been reached on the framework for the second relief bill. This second round of government stimulus aims to provide more direct payments to individuals, additional aid for small businesses, and the expansion […]

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Breaking News: $900 Billion COVID Relief Package Update

A deal on the rescue package to deliver aid to struggling Americans has suddenly come within reach after a major breakthrough on Saturday, December 19, that was ultimately agreed to by both the House and the Senate late on Sunday night.   Lawmakers are expected to vote late on Monday and send the bill to […]

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Webinar: Manufacturing Executive Town Hall Discussion

Join Us! Join OSCPA and Blue & Co. on Wednesday, December 16 from Noon to 1 p.m. Eastern for a Manufacturing Executive Town Hall Discussion. In June 2020, we had our initial discussion with our panelists on the manufacturing challenges associated with the COVID-19 pandemic including employee safety, Payroll Protection Program (PPP), and labor market strategies. The […]

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On-Demand Webinar: Planning for Year-End and 2021

Join Us! Join Blue & Co. and HK Financial Services on Friday, December 18 from 11:00 a.m to 12:15 p.m. Eastern for a discussion on Planning for Year-End and 2021. The Panelists will discuss: TCJA tax matters which will impact 2020 and possibly 2021 Year-end planning matters related to the CARES Act The Biden Tax Plan […]

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On-Demand Webinar: Panel Discussion regarding Paycheck Protection Program (PPP)

Join us for a recording of our Panel Discussion regarding the Paycheck Protection Program (PPP). Panelists will discuss the most common questions they are receiving regarding PPP. The Panelists will discuss: Forms and documentation needed for the forgiveness application EIDL and EIDL Advances and affects on forgiveness Forgiveness application timelines The “necessity forms” and loans […]

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PPP Loan Necessity Questionnaire – Information Requirements

In our continued effort to bring the most current information regarding the Paycheck Protection Program (PPP) Loan Forgiveness information, below includes additional insight regarding the Loan Necessity Questionnaire to be issued by the SBA to borrowers. We have experienced the SBA making a request to the Lender to receive additional information from borrowers with loans […]

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Guidance on PPP Loan Forgiveness

As we approach the end of 2020, many taxpayers and tax practitioners have been pondering whether or not expenses that were incurred in 2020 and paid with Payroll Protection Program (PPP) proceeds would be deductible in the current year if the PPP loan wasn’t forgiven until next year. On November 18, the IRS released much-awaited […]

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Tax Policy Election Update

As November’s US Presidential election approaches, each candidates’ policies and proposals are coming into better focus. As these policies are vetted by the American public, the candidates’ tax policies are, as usual, a major point of contention. Although President Trump has not released a formal plan, he has expressed some ideas which we can evaluate […]

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2023 E/M Coding Changes You Need to Know from the Physician Fee Schedule Final Ruling

New rules for reporting evaluation and management (E/M) services in most places of service took effect January 1, 2023. The coding and documentation revisions, adopted by the American Medical Association’s CPT Editorial Panel and approved by the Centers for Medicare and Medicaid Services (CMS), substantially simplify code selection and documentation. Effective January 1st, E/M services […]

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Consolidated Appropriations Act of 2023 Changes Impacting Rural Health Clinics

The Consolidated Appropriations Act of 2023, also known as the “Omnibus” package, was signed into law by President Biden on December 29, 2022. Rural Health Clinics (RHCs) need to be aware of some of the changes that will impact them including new grant opportunities and behavioral health provisions. Opportunities for Rural Health Clinics from the […]

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someone handing car keys to another person personal use of auto

The Importance of Personal vs. Business Use of Auto

By Pam Swartout, Manager and Jacoby Shade, Staff Accountant at Blue & Co. Many business owners provide a company vehicle to their employees as part of their employment. This is a company benefit that has tax implications and is extremely important for both the employer and employee to understand these implications. Employers can deduct only […]

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