Financial Operations
Payment Facilitators: Why Your Internal Controls Must Be Air-Tight
30-Second Summary: The Main Takeaway: Though there are many advantages to becoming a payment facilitator over using the traditional payment model,
Financial Operations
The Pulse – What’s Happening in the Economy and the Capital Markets Dates covered: 2/1/21 – 2/5/21
Executive Summary It was a strong week in the markets, reflecting a good earnings season — but with the positive
Financial Operations
Claiming Employee Retention Credits with a PPP Loan
In our previous article, we discussed the new enhancements to the Employee Retention Credit (ERC), compliments of the Consolidated Appropriations
Financial Operations
Unpacking the Latest Updates of the Paycheck Protection Program: 1/26/2021
The SBA continues to release new guidance for the Paycheck Protection Program (PPP) to carry out the changes for
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 1/25/21 – 1/29/21
Executive Summary We are recapping a week that saw election passions reach the capital markets, as retail investors overturned the
Financial Operations
The GameStop Short-Sell Frenzy: Why Should You Care?
If you’re not an avid gamer, this week may have been the first time you heard about the company, GameStop.
Financial Operations
The 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
Financial Operations
New PPP Loan Forgiveness Applications: Key Takeaways for Businesses
On January 19, 2021, the U.S. Small Business Administration (SBA) released three revised Paycheck Protection Program (PPP) loan forgiveness applications
Financial Operations
The Key Reporting Changes Provider Relief Fund Recipients Should Know for 2021
The Key Reporting Changes Provider Relief Fund Recipients Should Know for 2021 Healthcare providers that received Provider Relief Fund (PRF)
Financial Operations
Webinar: Examining PPP Updates for Your Dental Practice – January 15, 2021
Learn how the latest stimulus bill can affect your dental practice The Consolidated Appropriations Act, 2021 (the Act) was passed
Financial Operations
Proposed Rule Aims to Crackdown on Crypto Loopholes
As virtual currency’s popularity grows, so does the scrutiny around it. In recent years, the IRS has been more committed
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 1/11/21 – 1/15/21
Executive Summary Economically-sensitive stocks and commodities performed well, though overall market results were mixed for the week. Government data mirrors
Financial Operations
SBA Updates Guidance on Calculating PPP Loan Amounts
On January 19, 2021, the U.S. Small Business Administration (SBA) provided the guidance, “How to Calculate Revenue Reduction and Maximum
Financial Operations
Provider Relief Fund Reporting Portal Now Open; Reporting Deadline Delayed
Recipients of Provider Relief Fund (PRF) payments exceeding $10,000 in aggregate must register through the Provider Relief Fund Reporting Portal
Financial Operations
SBA Establishes Procedures for Increasing First Draw PPP Loans
On January 13, 2021, the U.S. Small Business Administration (SBA) issued a Procedural Notice (the Notice) – First Draw Paycheck
Financial Operations
SBA Announces PPP Portal Access for All Lenders
On January 13, 2021, the U.S. Small Business Administration (SBA) announced that the portal to accept Paycheck Protection Program (PPP)
Financial Operations
EIDL 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
Financial Operations
Webinar: New PPP & ERC Implications for Manufacturers
Plant shutdowns, employee furloughs, limitations on import/export activity, and more have disrupted manufacturing operations and profitability. Much needed relief may
Financial Operations
Webinar: Documenting Economic Uncertainty and the Necessity of PPP Loans
For months the SBA has indicated they will review forgiveness application for borrowers who, together with their affiliates, obtained PPP
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 1/4/21 – 1/8/21
Executive Summary Economic activity continues to generally improve with the exception of industries directly impacted by COVID-19-driven shutdowns. The jobs
Financial Operations
Second Draw PPP Loan Application Released by SBA
On January 8, 2021, the U.S. Small Business Administration (SBA) released the Second Draw Borrower Application Form, SBA Form 2483-SD, for
Financial Operations
First Draw PPP Loan Application Eligibility and Requirements
On January 8, 2021, the U.S. Small Business Administration (SBA) released the Borrower Application Form, SBA Form 2483, for businesses
Financial Operations
PPP Second Draw Loan Eligibility: Calculating and Documenting Gross Receipts
On January 19, 2021, the U.S. Small Business Administration (SBA) released the guidance, “How to Calculate Revenue Reduction and Maximum
Financial Operations
SBA Releases Guidance for Second Draw Loans
On January 6, 2021, the U.S. Small Business Administration (SBA) issued the Interim Final Rule on Second Draw Loans (the
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 12/19/20 – 12/31/20
Executive Summary 2020 ended with a strong December for the markets as momentum continued from November’s events. Economic data continues
Financial Operations
Congress Makes Business Meals Temporarily 100% Deductible
When Congress passed the Tax Cuts and Jobs Act (TCJA) in 2017, it significantly limited the tax benefits available to
Financial Operations
Basis, That is the Question! If Not Now, When?
The Consolidated Appropriations Act of 2020 (CAA) provided clarification and delivered welcome news for owners of pass-thru entities (S corporations
Financial Operations
The Individual and Business Tax Provisions in the Consolidated Appropriations Act of 2020
The Consolidated Appropriations Act of 2020 (CAA) marks the culmination of months of negotiation around bringing aid to Americans affected
Financial Operations
Enhancements to the Employee Retention Credit
Monday, December 21st, 2020, Congress passed the Consolidated Appropriations Act of 2021 (the Act) which included several enhancements to the
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 12/14/20 – 12/18/20
Executive Summary Markets continue to increase reflecting significant optimism, while the economic data continues to include mixed results. This week’s
Financial Operations
Webinar: Provider Relief Funds – What You Need to Know
HHS’s reporting portal for Provider Relief Funds (PRF) opens on January 15th and the first “use of funds” deadline is
Financial Operations
Tax Implications of PPP Funds Finally Align with Congressional Intent
On December 20, 2020, Congress agreed to terms of the Emergency COVID Relief Act of 2020 (the Act), which was
Financial Operations
Webinar: Tax Implications of PPP Loans
The CARES Act stated that forgiveness of a Paycheck Protection Program (PPP) loan would be considered tax-exempt income, but it
Financial Operations
The Top 10 PPP changes in the Bipartisan Emergency COVID Relief Act of 2020
On December 21, 2020, Congress passed the Emergency Coronavirus Relief Act (the Act), a component of the Consolidated Appropriations Act,
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 12/7/20 – 12/11/20
Executive Summary The current boom in tech IPOs is triggering memories for many of the dot-com bubble of the 1990s.
Financial Operations
What You Need to Know About PPP Economic Uncertainty Certification
On December 9, 2020, the Small Business Administration (SBA) released Paycheck Protection (PPP) Loan FAQ 53 which answers the question “Why are some PPP borrowers receiving a Loan Necessity Questionnaire?” As we previously
Financial Operations
CARES Act Reporting Requirements for Provider Relief Funds
The Department of Health and Human Service (HHS) reporting portal for Provider Relief Funds (PRF) opens on January 15, 2020
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 11/30/20 – 12/4/20
Executive Summary Post-Thanksgiving week data was telling, enforcing the emerging trend of a split between the economy and stock
Financial Operations
PPP Loan Necessity Questionnaire and More Documentation Requirements
For many borrowers of Paycheck Protection Program (PPP) loans, the loan necessity questionnaires – Form 3509 (used by for-profit entities) and Form 3510 (used by
Financial Operations
SBA Releases Details of PPP Loan Borrowers
On December 1, 2020, per order from U.S. District Judge James Boasberg, the Small Business Administration (SBA) released the names,
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 11/23/20 – 11/27/20
Executive Summary The separation between Wall Street and Main Street re-emerged this week with Wall Street reporting a very strong
Financial Operations
Webinar: Trends in Cross Border Payments
From the global pandemic to trade wars, the Cross Border Payment Industry has continued to innovate and thrive in
Financial Operations
Webinar: Paycheck Protection Program – SBA Assessing Necessity of PPP Loans and Other Forgiveness Concerns
For certain PPP borrowers, whether their loans were ever economically necessary will be determined by the SBA. Other borrowers seeking
Financial Operations
New Virtual Currency Tax Reporting and Compliance Measures Imminent
Despite explosive growth in the popularity of virtual currency, the Treasury Inspector General for Tax Administration (TIGTA) has determined that
Financial Operations
AICPA Pushes Back on PPP Loan Necessity Questionnaire Response backed by 80 National Organizations
We previously discussed the U.S. Small Business Administration’s (SBA) issuance of two loan necessity questionnaires, Form 3509 (used by for-profit entities) and Form 3510 (used by non-profit entities). This issuance was the first
Financial Operations
IRS Clarifies Tax Implications of PPP Funds
On November 18, 2020, the Internal Revenue Service (IRS) issued Revenue Ruling 2020-27 (Ruling) which provides needed clarity on a
Financial Operations
The Pulse – What’s happening in the Economy and the Capital Markets: 11/9/20 – 11/13/20
Executive Summary With COVID-19 cases rising globally, the possibility of an approved and distributed vaccine before new shutdowns looms over
Financial Operations
Webinar: New PPP Forgiveness Forms-What You Need to Know
Contact an Aprio advisor for PPP loan forgiveness assistance by filling out the form below. If your organization’s PPP
Financial Operations
Webinar: Health IT – Right-sizing privacy and security compliance to your business stage
Health IT will see strong growth in a post-COVID economy. Your ability to land new customers and investors to accelerate
Financial Operations
Is Moving to the Cloud the Right Strategy for Your Business?
To cloud or not to cloud? If you are a growing technology company, moving to the cloud is an increasingly