Posts Tagged ‘COVID-19’
Here’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…
Read MoreTransfer Pricing and COVID-19 – Time to Re-Examine Your Policy
At a Glance Multinational Companies Beware: Economic impacts from COVID-19 may require a new transfer pricing policy to avoid future penalties. Impact on Your Business: Companies using profits-based transfer pricing methods will be affected the most. Next Steps: You need to take immediate action to determine if your current transfer pricing is defensible or if you need a…
Read MoreDon’t Sell Yourself Short on the ERC – Reevaluate Your Small Employer Status
At a Glance: The full story Eligibility aside, the size of your workforce is one of the most influential factors driving the ultimate value of your Employee Retention Credit (ERC). There’s been some debate over the correct method for classifying and counting full-time employees when evaluating large or small employer status. Lack of specificity in…
Read MoreIRS Declines to Extend Due Date for First-Quarter Estimated Tax Payments
At a glance: The IRS has confirmed its extension of the filing due date for 2020 individual income tax returns to May 17, 2021. This extension also applies to the due date for making 2020 contributions to an individual IRA, Roth IRA, health savings account (HSA), Archer medical savings account (MSA) and Coverdell education savings…
Read MoreThe Newly Extended Solar Investment Tax Credit Can Brighten Your Business
Despite the news coverage, the Consolidated Appropriations Act, signed by President Trump on Sunday, December 27, 2020, contains more legislation than just the second round of individual stimulus checks. The massive omnibus bill covers everything from pandemic relief to foreign aid and includes significant wins for the renewable energy sector. Introducing the Energy Act of 2020…
Read MoreEIDL Advances No Longer Reduce PPP Loan Forgiveness
On January 8, 2021, the U.S. Small Business Administration (SBA) issued a Procedural Notice (the Notice) – Repeal of Economic Injury Disaster Loan (EIDL) Advance Deduction Requirement for SBA Loan Forgiveness Remittances to Paycheck Protection Program (PPP) Lenders. The Notice Section 1110(e)(6) of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) required the SBA to deduct the…
Read MoreThe Pulse – What’s happening in the Economy and the Capital Markets : 1/18/21 – 1/22/21
Executive Summary The economy and the markets are continuing their healthy start to the year — recent government data shows that the residential housing market continues to rebound, and high-frequency data also shows recovery. At the same time, the markets are shifting toward technology, which is a beneficiary of the slower-than-expected pace of global vaccinations.…
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