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Update on the PPP (Paycheck Protect Program). I know there are a lot of small businesses out there that have yet to apply for a PPP Forgivable Loan. How do I know this, because I've talked to a bunch of you. Maybe you thought you didn't qualify for a PPP loan because you're self employed and you don't have any employees or maybe you thought the fund was totally out of money because of the ...

It is with great pleasure and much anticipated excitement, that we announce the Bryant office opened it's doors on Monday, June 29, 2020 to a newly constructed commercial office space located in Bryant not far from our previous location. Our new address is: 3310 Main St. Suite 100, Bryant, AR 72022. The new commercial space is located near the Walmart and directly across from our neighbors, Patterson Dental and The Skin Bar. Please note as ...

In the last "Profit From It" article, I took an initial dive into the issue of Paycheck Protection Program (PPP) Loan forgiveness under the CARES Act; see "A Matter of Forgiveness - of a PPP Loan That Is" on May 27. As stated at the time, there were still many unanswered questions upon which we were awaiting guidance. Sure enough, just about the time that article was submitted, the Small Business Administration (SBA) issued a ...

Watch on Youtube: https://youtu.be/EvzPggyAoFE Part one of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/cares-act-paycheck-protection-program/ Part two of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/paycheck-protection-program-part-2/ Part three of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/paycheck-protection-program-part-3/ Part four of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/paycheck-protection-program-part-4/

Late Wednesday night, the US Senate unanimously passed legislation, previously approved by the US House of Representatives, that makes several important changes to the PPP loan forgiveness rules, including tripling the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans. The forgiveness provisions of the CARES Act, which was passed into law to provide business economic relief and encourage employee retention, and ...

So, you're in business and received one of the potentially forgivable Paycheck Protection Program (PPP) loans created by the CARES in an effort to help keep people employed and businesses weather the Covid-19 storm. Now you are wondering, just what exactly am I supposed to do, and how do I go about getting this thing forgiven? The dilemma is that while the PPP was long on promises, it was short on details. In fact, the ...

Americans by and large are a generous people, especially when disaster hits or during other times of crisis. The current crisis is no different. Whether it's drives to support local businesses, serving or donating to food banks, or the numerous faith groups and other relief organizations reaching out to help those in need, we see this generosity on display everywhere. To encourage this even more, the Coronavirus Aid, Relief, and Economic Security (or CARES) Act ...

Businesses, too, are suffering (along with the people who own them and work for them), so the new laws also included business tax changes that provide relief to them. The following is a high-level view of some of the more important business tax changes in response to ‘Rona. Charitable Contributions Regular corporations (known as C corporations) can now deduct charitable donations up to 25% of their taxable income. Previously the limitation was 10%. Also, contributions ...

Hot off the Press! Join in and listen to our Heber Springs Managing Partner, Lane Keeter, update you on the latest updates in regards to IRS filings and payment relief. Good news during a stressful time. For more information and to get IRS updates, follow our YouTube channel - EGP Pandemic 2020 and on website at www.egpcpas.com #pandemic2020taxrelief Watch on Youtube: https://youtu.be/UBrGofU5UBM

Watch on Youtube: https://youtu.be/ikrLz_D-xbs Part one of the Stimulus Checks series can be found here: https://egpcpas.com/news/individual-stimulus-checks/ Part two of the Stimulus Checks series can be found here: https://egpcpas.com/news/stimulus-checks-part-2/

Watch on Youtube: https://youtu.be/EvzPggyAoFE Part one of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/cares-act-paycheck-protection-program/ Part two of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/paycheck-protection-program-part-2/ Part three of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/paycheck-protection-program-part-3/ Part four of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/paycheck-protection-program-part-4/

Man, things can change fast! When I wrote my last column for this newspaper, the economy was clicking along a light speed. Now, we are in the middle of a health crisis and huge part of our economy has come screeching to a halt. To combat the economic fallout, the government has enacted several pieces of major stimulus legislation, as well as made changes via executive orders and administrative pronouncements. In this article, I'll present ...

Watch on Youtube: https://youtu.be/EvzPggyAoFE Part one of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/cares-act-paycheck-protection-program/ Part two of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/paycheck-protection-program-part-2/ Part three of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/paycheck-protection-program-part-3/ Part four of the Paycheck Protect Program series can be found here: https://egpcpas.com/news/paycheck-protection-program-part-4/

Watch on Youtube: https://youtu.be/3RHMr8tfckk

The CARES Act establishes the Paycheck Protection Program (PPP) to be administered by the U.S. Small Business Administration (SBA). The purpose of the program is to provide funding to qualified small businesses as well as certain non-profit organizations. Many traditional SBA requirements are waived, including personal guarantees, collateral requirements, 'credit elsewhere' and most fees commonly associated with SBA financing. PPP includes the ability to have loans forgiven if the borrower meets certain requirements. Who Is ...