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    Important Additional Guidance for Employers Claiming the ERC

    Posted by Alan Greenwell on Aug 25, 2021 11:05:04 AM

    The IRS recently issued further guidance on the employee retention credit. This includes guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022, and guidance on miscellaneous issues that apply to the employee retention credit in both 2020 and 2021. Additionally, the IRS issued a safe harbor allowing employers to exclude certain items from their gross receipts solely for determining eligibility for the employee retention credit.

    Notice 2021-49 addresses changes made by the American Rescue Plan Act of 2021 to the employee retention credit that apply to the third and fourth quarters of 2021.

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    Topics: ohio, workplace productivity, Management, Tax Credit, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Employee Retention, ERC

    What you need to know about the Employee Retention Credit

    Posted by Alan Greenwell on Aug 12, 2021 3:18:45 PM

    The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains a business relief provision known as the Employee Retention Credit (ERC), a refundable payroll tax credit for “qualified wages” paid to retained full-time employees from March 13, 2020, to Dec. 31, 2020. The purpose of the ERC was to encourage employers to keep employees on the payroll, even if they were not working during the covered, COVID-19, period. 

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    Topics: ohio, workplace productivity, Management, Tax Credit, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Employee Retention

    How Nonprofits Can Maintain Donor Engagement

    Posted by Nicole Kelly on Jun 23, 2021 12:47:06 PM

    By Robby Vanrijkel

    COVID-19, the economy and political shifts have resulted in tumultuous times for many nonprofits. Organizational resilience depends heavily on securing funding, and organizations are seeking out new ways to engage with donors to ensure they have the resources needed to continue their missions. Successful nonprofits understand that maintaining these relationships is imperative for the survival and continued growth of their organizations.

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    Topics: ohio, Nonprofit, BDO, workplace productivity, Success, Management, COVID-19

    How Nonprofits Can Scale for Success in 2021

    Posted by Nicole Kelly on Jun 10, 2021 11:03:38 AM

    By Michael Ward

    The COVID-19 pandemic has impacted nonprofits in dramatically different ways, with some organizations scrambling to meet rapidly rising demand and others shrinking to survive the ongoing crisis. Whether an organization’s situation has been one of boom, bust or somewhere in between, scalability is a universal asset in a global pandemic.

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    Topics: ohio, Nonprofit, BDO, workplace productivity, Success, Management, COVID-19, Case Study

    Guidance Released: Temporary 100% Deduction on Business Meal Expenses

    Posted by Alan Greenwell on Apr 12, 2021 11:50:22 AM

    The IRSand the Treasury released guidance Thursday April 8, 2021 on a temporary exception to the 50% limit that businesses can deduct for food or beverages from restaurants during the pandemic.

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    Topics: ohio, workplace productivity, meal deduction, Management, Deductions, Workplace Culture, Coronavirus, COVID-19, Business Meal Expense

    PPP Changes to Help Underserved Borrowers

    Posted by Alan Greenwell on Feb 23, 2021 12:08:12 PM

    On Monday, President Joe Biden announced a series of changes to the Paycheck Protection Program designed to make the program more accessible to underserved borrowers, including a two-week period beginning on Wednesday (February 24, 2021) where only businesses with fewer than 20 employees can apply for loans.

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    Topics: ohio, workplace productivity, Management, 2020, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Paycheck Protection Program, PPP2

    Borrower Application Forms: First & Second Draw PPP Loans

    Posted by Alan Greenwell on Jan 12, 2021 12:31:18 PM

    On January 8, 2021, the U.S. Small Business Administration (SBA) released the Borrower Application Form, SBA Form 2483, for businesses applying for a First Draw PPP Loan or requesting an increase in their First Draw PPP Loan. Existing borrowers seeking a Second Draw PPP Loan will need to submit the Second Draw Borrower Application Form, SBA Form 2483-SD.

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    Topics: ohio, workplace productivity, Management, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Paycheck Protection Program

    Interim Final Rule: Second Draw Loans

    Posted by Alan Greenwell on Jan 11, 2021 1:55:24 PM

    On January 6, 2021, the U.S. Small Business Administration (SBA) issued the Interim Final Rule on Second Draw Loans (the IFR). The IFR announces the implementation of section 311 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act), a component of the Consolidated Appropriations Act, 2021 (the Act), which authorizes the SBA to guarantee additional loans under the Paycheck Protection Program (PPP).

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    Topics: ohio, workplace productivity, Management, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Paycheck Protection Program, Interim Final Rule

    New Paycheck Protection Program (PPP2) Guidance

    Posted by Alan Greenwell on Jan 7, 2021 2:25:03 PM

    The Consolidated Appropriations Act, 2021 (the “Act”) was passed by Congress on December 21, 2020, and signed into law by President Donald Trump on December 27, 2020. This is the second-largest federal stimulus package approved by Congress this year following the $2 trillion CARES Act passed in March 2020.

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    Topics: ohio, workplace productivity, Management, 2020, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Paycheck Protection Program, PPP2

    Consolidated Appropriations Act of 2021: Employee Retention Credit Changes

    Posted by Alan Greenwell on Dec 30, 2020 8:14:48 AM

    On Sunday December 27, 2020 President Trump signed the Consolidated Appropriations Act of 2021 (the Act) which included several enhancements to the Employee Retention Credit (ERC). The most prominent change is that businesses that received a loan pursuant to the Paycheck Protection Program (PPP) are now eligible for the ERC.

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    Topics: ohio, workplace productivity, Management, 2020, Workplace Culture, Coronavirus, SBA Disaster, COVID-19, Loan, Employee Retention, ERC

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