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SBA Continues to Rollout the Second Round of the PPP
Starting today, Friday, January 15th, the SBA is accepting applications for the second round of Paycheck Protection Program (PPP) funding from smaller
PPP2 for Nonprofits: Which Organizations Are Eligible for Second Draw Funding?
Nonprofit organizations that received loans through the first round of the Paycheck Protection Program (PPP1) may be eligible for a second draw of PPP funding
NDAA for 2021: What’s in Store for Credit Unions?
We’ve come to expect the National Defense Authorization Act (NDAA) to pass each year, as it has for the last 59 consecutive fiscal years. The
COVIDTRA for Businesses & Nonprofits: A Closer Look at Certain COVID-19-Related Tax Relief
On December 27th, President Trump signed the COVID-Related Tax Relief Act (COVIDTRA), a $908 billion relief package, into law. Among other provisions, the legislation includes
Form 1099-NEC & the IRS’s New Nonemployee Compensation Reporting Requirements
Beginning with 2020 information reporting, the IRS is reintroducing Form 1099-NEC, a form that was previously used until the early 80’s for reporting nonemployee compensation.
What Employers Need to Know About The CARES Act Payroll Tax Deferral
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contained a provision allowing employers to defer payment of their required 6.2% portion of
PPP Borrowers Are No Longer Required to Submit Forms 3509 & 3510 for Forgiveness of Large Loans
Paycheck Protection Program (PPP) loan borrowers will no longer required to submit Form 3509, PPP Loan Necessity Questionnaire (For-Profit Borrowers) and Form 3510, PPP Loan
New Hampshire Legislation Reduces Corporate Taxes & Eliminates Personal Income Tax
On June 28, 2021, New Hampshire Governor Chris Sununu signed HB2, An Act Relative to State Fees, Funds, Revenues, and Expenditures. The Act provides tax
How Contractors Can Avoid 10 Common Exit Planning Mistakes
Exiting your business requires long-term, comprehensive planning, whether you plan to pass your company to family members, sell your interest to a partner, or sell
Supreme Court Vacates District Court’s Judgement on a Provision of the Affordable Care Act
On June 17, 2021, the Supreme Court issued an opinion that reverses and remands California et al. v. Texas et al. The lawsuit was originally
PPP Recipients in NH Catch a Break | Fate of the Millionaires Tax Falls to MA Voters
New Hampshire Exempts Forgiven Paycheck Protection Program (PPP) Loans from Business Profits Tax Governor Chris Sununu signed SB 3 on Thursday, June 10th, adding New