Claiming the Employee Retention Tax Credit? Received a PPP Loan? Know Your Accounting!
The Employee Retention Tax Credit (ERTC) and the Paycheck Protection Program (PPP) were created to incentivize businesses to keep workers employed through the worst parts
Strong internal controls can help minimize losses
(authored by RSM US LLP) There are a number of steps construction companies can take to help avoid unintended losses resulting from error or outright fraud.
COVID-19 Impact on Asset Impairment
The coronavirus pandemic infused unprecedented levels of uncertainty into our economy. When the virus became more widely spread in March, businesses closed, workers self-isolated, and
LaPorte Director Named Secretary/Treasurer of Board for CICPAC
LaPorte CPAs & Business Advisors is proud to announce that Christina Chifici, CPA, CCIFP, Director-in-Charge of Audit and Assurance Services, has been elected Secretary/Treasurer to
IRS enhances employee retention credit guidance for open questions
(authored by RSM US LLP) Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
Withdrawal of SBA loan necessity questionnaire for PPP loans
(authored by RSM US LLP) The SBA has formally notified PPP lenders that it no longer will require submission of loan necessity questionnaires. Learn more.
SBA formally withdraws loan necessity questionnaire
(authored by RSM US LLP) Small Business Administration, in light of lawsuit, notifies PPP lenders that loan necessity questionnaire is withdrawn.
Worker Classification Guidelines Not Changing Yet
In January, the Department of Labor (DOL) published a final rule that detailed how a business was to determine a worker’s employment status under the
Businesses Required to Subsidize COBRA Premiums Will Be Reimbursed with Payroll Tax Credits
To help Americans struggling with job loss, the American Rescue Plan Act of 2021 (ARPA) will subsidize the costs of COBRA insurance premiums effective April
RSM Middle Market Business Index: April 2021
(authored by RSM US LLP) Middle market business conditions improved in April as the prospect of rising revenues and net earnings offset cost pressures.
FASB staff clarifying comments on new goodwill impairment alternative
(authored by RSM US LLP) The FASB staff recently made clarifying comments related to the new goodwill impairment triggering event alternative.
Being deemed essential doesn’t preclude ERTC eligibility
(authored by RSM US LLP) Construction firms forced to reduce or cancel operations by jurisdictional order may meet employee retention credit eligibility requirements