Donor care during the COVID-19 pandemic By: Helen Weeber One of the many challenges of operating a not-for-profit organization during the coronavirus (COVID-19) pandemic is that just when you desperately need financial support, many donors are unable to help. […]
CARES Act deferral of, changes to and limits on excess business losses By: David M. Reape During this challenging time, we know that everyone’s highest priority continues to be the health and well-being of their families, friends, neighbors and co-workers. At the same time, we’re focused […]
Relief from not making employment tax deposits due to COVID-19 tax credits By: David M. Reape The IRS has issued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under two laws passed in […]
Expanded Deductions for Charitable Giving Due to CARES Act In response to COVID-19, and in an effort to encourage more charitable giving in 2020, the recently enacted government stimulus bill (the “CARES Act”) provides some additional tax relief for […]
The CARES Act Effect on Employer’s Payment of Payroll Taxes A question was recently posed regarding an employer’s ability to defer payment of Social Security taxes, if they receive a Payroll Protection Program (PPP) loan. According to the IRS, employers […]
Seniors face a double threat with COVID-19 By: Anthony LaNasa The coronavirus (COVID-19) pandemic may pose a double whammy for seniors. The elderly are considered the most vulnerable population for medical complications associated with the virus. They’re also prime targets […]
Ohio Bureau of Workers’ Compensation votes to remit funds back to employers The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors approved a request from Gov. Mike DeWine to distribute $1.6 billion to state businesses in response to economic disruption from […]
CMS Releases First Payments From CARES Act Provider Relief Fund CMS Releases First Payments From CARES Act Provider Relief Fund The Centers for Medicare and Medicaid Services (CMS) released the first $30 billion of the $100 billion Provider Relief Fund […]
FASB Rules on Delays for Leases (ASC 842) and Franchisors (ASC 606) By: Joseph Sbrocco CPA CGMA FASB met on April 8, 2020, to address pressing issues stemming from the COVID-19 pandemic. Specifically: Accounting Standards Codification (ASC) 842: Leases – One-year delay proposed for private companies and […]
FAQs for HUD-insured facilities By: Joseph Sbrocco CPA CGMA In an effort to address questions and concerns about HUD-insured facilities (FHA’s Section 232 and 242 mortgage insurance programs) and the COVID-19 pandemic, HUD (Office of Healthcare Programs) has provided […]
FAQ’s about the Paycheck Protection Program (PPP) If you’re like most employers, your head is swimming with all of the information that’s been coming out of Washington D.C. these past few weeks. Thankfully, on April 6th, Treasury […]