COVID-19 Recovery Strategies: Emerging from a Crisis
From March to April 2020, businesses throughout the U.S. and around the world suddenly shut down or dramatically altered their operations by government orders. At the same time, billions of people were directed to stay at home whenever possible and to remain socially distant if they did go out. The reopening process has started, but there is no precedent to follow. So, how do we restart?
In the midst of such great uncertainty in our lives, we hope the resources in these pages can provide some clarity to guide you through and tools to help you thrive. Use the links below to navigate to solutions that fit your needs.
If you have questions about what strategies apply to your organization’s situation, please contact us using the form at the bottom of this page. We are happy to discuss your unique situation.
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March 16, 2021
The Employee Retention Credit (ERC) is a refundable payroll tax credit that your tax-exempt organization may be eligible for. The credit was originally enacted with the CARES Act in March of 2020 and was extended and expanded with the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which passed in December 2020. An additional […]
March 15, 2021
Note: You will see in the article below allowable entities now include 501(c)(7) organizations. There remains many specific requirements for the PPP program and each organization will need to consider the totality of the program and their situation to see if they qualify. However, the deadline to apply for funding has not been moved and […]
March 07, 2021
By: Derek Gray, CPA, Director On Saturday, March 6, the Senate passed a $1.9 trillion COVID-19 relief package, The American Rescue Plan Act, with the House expected to pass the bill on Tuesday, March 9. President Biden hopes to sign this bill into law before unemployment aid programs expire on March 14. Provisions in the […]
March 03, 2021
By: Damien Strohmier, CPA, CCIFP Note: On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which includes the following provisions related to the employer tax credits discussed in this article: Extension of the period for which the credit for providing paid sick and family leave may be taken from […]
February 24, 2021
By: Justin Gubser, CPA, and Aimee Reavling, CPA The Employee Retention Credit (ERC) is one of the most significant taxpayer relief provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act but has flown under the radar for most of the past 12 months due to its initial limitations related to the first round […]
February 22, 2021
By: Stephen Mann, CPA, ABV, and Jarit Loughmiller, CPA/ABV/CFF, ASA, CVA, CFE On Monday, February 22, 2021, the Biden-Harris administration announced changes to the Paycheck Protection Program (PPP) to “provide equitable relief” and increase the availability of the PPP funds to the smallest employers and sole proprietors. Since the program reopened in January 2021, about […]
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