Employee Retention Credit (ERC)

Due to the COVID/pandemic, the federal government established the Employee Retention Credit (ERC) to provide a refundable employment tax credit to help businesses with the cost of keeping staff employed. Eligible businesses that experienced a…

IRS GUIDANCE ON SMALL BUSINESS CLOSURES

COVID-19 has hit small business particularly hard, and forced many to close their doors. Whether you are closing your business as a result of the current pandemic or for reasons such as retirement or starting…

PPP Loans and Changes of Ownership

On October 2, 2020, the Small Business Administration (SBA) issued a Procedural Notice which addresses Paycheck Protection Program (PPP) loans and changes of ownership. The Notice provides guidance and clarification beneficial to loan borrowers needing…