Posts Tagged ‘Coronavirus Cash Flow’
There’s No Free Lunch: What PPP borrowers should be aware of to avoid future problems
At a glance: The Main Takeaway: Between the pressure to distribute funding and the vast increase in the number of new applications, the Paycheck Protection Program (PPP) is ripe for fraud. Impact on Your Business: If you don’t have a solid understanding of the PPP, then you’re at risk for either breaking the rules or…
Read More3 Ways the New COVID-19 Relief Bill Impacts Your Business
30-Second summary: In addition to providing a new round of stimulus payments, the American Rescue Plan Act contains a host of provisions that will offer financial relief to businesses affected by COVID-19. If eligible, businesses stand to benefit most from the extended Employee Retention Credit, the launch of the Restaurant Revitalization Fund and expanded Provider…
Read MoreThe American Rescue Plan Act of 2021 Passes, Providing Relief for Restaurants
30-second summary: $28.6 billion in relief funding for restaurants – President Biden signed the American Rescue Plan Act of 2021 (ARPA) to support restaurants The Restaurant Revitalization Fund (RRF) grants – will become available 60 days after the signing of the ARPA by President Joe Biden which occurred on March 11. Learn if your restaurant…
Read MoreSBA Releases Early Draft of the Restaurant Revitalization Fund Application
At a glance: The Main Takeaway: The U.S. Small Business Administration has unveiled an early draft of the Restaurant Revitalization Fund (RRF) application. Impact on Your Business: Though the application is not set in stone and could even be delayed in terms of the official roll-out, this draft should give your business an insider’s look…
Read MoreApply for an RRF Grant in 4 Simple Steps
At a Glance: The Main Takeaway: The SBA will open the Restaurant Revitalization Fund (RRF) grant application portal on May 3 and is allowing applicants to register as early as April 30. Impact on Your Business: The $28.6 billion in RRF funding will go fast, so your business must act now to obtain the grant…
Read MoreFAQs: Applying for the Restaurant Revitalization Fund Grant
At a Glance: On April 17, the U.S. Small Business Administration (SBA) released its landing page about the Restaurant Revitalization Fund (RRF) grants, serving as a comprehensive guide to the program. The SBA has also released a sample RRF grant application. The application portal could be open as soon as May 1, 2021. On April…
Read MoreHere’s an Easier Way to Understand Your ERC Eligibility
At a Glance: THE MAIN TAKEAWAY: The Consolidated Appropriations Act provided millions more businesses the opportunity to be eligible for the Employee Retention Credit (ERC). IMPACT ON YOUR BUSINESS: Sifting through the complex jargon can be difficult, especially if there are significant changes that have happened in your business due to the pandemic. NEXT STEPS:…
Read MorePortfolio Companies: Are You Eligible for the ERC?
30 Second Summary: Portfolio Companies and the ERC: While a controlled group relationship is generally unlikely between a private equity firm and its portfolio companies, special controlled group rules may apply when claiming the ERC in some scenarios. Impact On Your Business: Controlled group rules applicable to the ERC can play a significant role in employer eligibility…
Read MoreControlled Groups: What You Need to Know about the ERC
30 Second Summary: The Full Story: If your company is part of a controlled group, you may still be eligible for the Employee Retention Credit (ERC). Being a part of an aggregated group of companies does not disqualify you as an eligible employer – it simply changes the rules. Who do the ERC aggregation rules…
Read MoreAre Remote Fraud Investigations Equally Effective?
30 Second Summary Increased Fraud: The pressure and opportunities created by the pandemic are driving more fraud, while social and travel restrictions make fraud investigations harder. A remote investigation is your best tool against fraud in a COVID-19 world. Remote Investigation: Virtual fraud investigations seem risky, but they can also be faster, cheaper, and easier than ever…
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