Will I receive cash from the government? If so, when? Single individuals with 2019 (2018, if your 2019 return hasn’t been filed yet) Adjusted Gross Income (AGI) up to $75,000 ($112,500 if you file as “head of household”) will generally…
Russell, Brier & Co. LLP merges with Walter & Shuffain, P.C.
Walter & Shuffain, P.C. (Walter & Shuffain) announces the acquisition of Russell, Brier & Co. LLP (Russell Brier) effective Sept. 1, 2020. The merger makes Walter & Shuffain a Top 20 firm in Massachusetts. The combination of the two firms offers the Boston metro…
Walter & Shuffain Acquires Russell Brier & Co
The shareholders at Walter & Shuffain, P.C. are excited to share that we have merged in Russell Brier & Co. LLP effective Sept. 1, 2020. The merger makes Walter & Shuffain a Top 20 firm in Massachusetts with the Russell…
Latest PPP FAQ Document- An overview of some of the most notable clarified guidance
The Small Business Administration (SBA) and Treasury released an updated Paycheck Protection Program (PPP) FAQ on Aug. 4 in an effort to address PPP loan forgiveness issues that have arisen as borrowers begin to complete their applications. The 23 FAQs address various…
House, Senate Approve 5-week PPP Extension
The U.S. Senate and House of Representatives have both unanimously agreed to extend the Paycheck Protection Program (PPP) by five weeks in an effort to continue providing relief for small businesses hit hard by the pandemic. Applications officially closed for…
PPP Extension Bill Approved by Senate, Signed by President
On June 4, 2020, the President signed into law the Paycheck Protection Program Flexibility Act after it passed the Senate with a unanimous vote. The bill drafted by the House extends certain provisions of the Paycheck Protection Program (PPP) to provide small businesses…
House passes bill to extend, expand provisions of PPP
On May 28, 2020, in a nearly unanimous vote, the U.S. House of Representatives voted to extend certain provisions of the Paycheck Protection Program (PPP) to provide small businesses with relief in the timeframe and use of their PPP loan funds. While…
SBA guidance on PPP Loan Forgiveness issued
On May 15, the Small Business Administration (SBA) issued the Loan Forgiveness application and on May 22, the interim final rule guidance on the PPP loan forgiveness was issued. The interim final rule is the formal guidance that accompanies the forgiveness application and should be used…
Employer Retention Credit- an alternative to PPP
The “CARES Act” provides a tax credit for eligible employers to encourage them to continue paying employees. The employee retention credit is available for employers that close or suspend operations or have much-reduced gross receipts due to the coronavirus pandemic. …
PPP Loan Forgiveness- Next Steps
You have received your “Paycheck Protection Program” (PPP) loan. Now what? As of this writing, we still do not have the final Small Business Administration (SBA) rules on how the forgiveness provisions will work, but we do have the statute to give…