As if 2020 wasn’t challenging enough, this season’s tax-filing is going to be even more complicated than usual. Though the CARES Act and the Paycheck Protection Program were put into place to help small businesses, the old adage about “no such thing as a free lunch” is proving true once again as business owners sit…
Housing is a big expense for everyone. The choice generally involves either renting or purchasing – and financing that purchase with a home loan. As of November 2020, the nationwide average for a 30-year fixed-rate mortgage was just under 3%, the lowest it has been in the last 50 years or even longer. Many individuals…
As a business owner, you faced many challenges during 2020, some of which likely pertained to questions surrounding the Paycheck Protection Program (PPP). One area you may now be clarifying as you prepare to close the year is whether you appropriately accounted for your PPP loan and its forgiveness. To answer this question, the AICPA…
The Indianapolis-based CPA and advisory firm BGBC Partners, LLP has promoted Brent Holman to Partner. “Obtaining this career achievement is recognition of Brent’s efforts, skills and abilities”, said Kyle Simmerman, Managing Partner. “He is a tremendous team member selflessly dedicated to developing others and exceptional client service. For everyone on our team and our clients…
Filing annual wage reports is just one of the many end-of-year responsibilities expected of every business. But the task is not as straightforward as some would think. The reports get sent to the people who have received wages, and at the same time they get filed with the Social Security Administration (SSA) or the Internal…
Democrats Jon Ossoff and Raphael Warnock have now won the January 5, 2021, Senate runoff elections in Georgia, so the Democrats will have control of the Presidency, House of Representatives and Senate, giving them a governing mandate (the Georgia runoff election results have not yet been officially certified but this will take place before January 20,…
In spite of (or in some cases, because of) the COVID-19 pandemic, and with near-record-low home mortgage interest rates, the housing market has been booming. September 2020 existing home sales were up 9.4% from August 2020 and 20.9% from 2019, according to the National Association of Realtors. If you sold your home this year or…
The Indianapolis-based CPA and advisory firm BGBC Partners, LLP is pleased to announce promotion of Maggie de Guzman to Manager. Maggie has 15 years of experience that consists of time spent in public accounting and industry. She joined the firm as a Supervisor in 2019. She specializes in international tax, specifically in US filings for…
On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (CAA) into law. A recent article from JD Supra outlines two key provisions included in the act that make changes to the employee retention credit. Established by the CARES Act, the employee retention credit was designed to incentivize employers to maintain their staff…
On Wednesday, January 6, the U.S. Small Business Administration (SBA) and the Treasury issued joint guidance regarding the latest updates to the Paycheck Protection Program (PPP), as amended by the recent COVID-19 relief bill. A recent article from the Journal of Accountancy offers an overview of the guidance, which includes the following items: An interim…