The COVID-19 pandemic has threatened the health of our communities, businesses and the global economy. The stakes are too high to allow room for error when decision-making is often a matter of life or death. From a societal standpoint, both human lives and livelihoods hang in the balance. For many businesses, actions taken in the…
Jason Twomey explains two important updates on the Paycheck Protection Program (PPP).
BGBC Partners, LLP is pleased to announce their inclusion on the Indianapolis Star’s 2020 Top Workplaces list. This is BGBC’s third consecutive year as an IndyStar Top Workplace. They also received the “Appreciation” award, which recognizes the top company that makes employees feel genuinely appreciated. The Firm’s Managing Partner, Kyle Simmerman, stated, “Recognition as a…
This week, the Small Business Administration (SBA) and the U.S. Department of the Treasury released new information for recipients of loans through the Paycheck Protection Program (PPP). A recent article from the Journal of Accountancy offers helpful details on the revised loan forgiveness application, the new EZ application, and the new interim final rule on…
On Wednesday night, the Senate voted unanimously in favor of the Paycheck Protection Flexibility Act. This new legislation makes key adjustments to the timeline for spending Paycheck Protection Program (PPP) funds and revises how loan recipients are required to allocate the money. Here is a brief overview of the key provisions contained in the bill:…
Digital Transformation in the Pandemic and Post-Pandemic Era If there were any lingering doubts about the necessity of digital transformation to business longevity, the coronavirus has silenced them. In a contactless world, the vast majority of interactions with customers and employees must take place virtually. With rare exception, operating digitally is the only way to stay in…
On May 22, the Small Business Administration (SBA), in conjunction with the U.S. Treasury, released additional guidance for recipients of loans through the Paycheck Protection Program (PPP). A recent article from the Journal of Accountancy examines the details of the new release. The SBA issued two new interim final rules, one regarding requirements for loan…
On Friday, May 15, the Small Business Administration (SBA) announced an important release for borrowers who received loans through the Paycheck Protection Program (PPP). The bureau made public a form and instructions for borrowers to use to apply for PPP loan forgiveness. The application must be completed and submitted to the lender that serviced the…
The Indianapolis-based CPA and advisory firm BGBC Partners, LLP is pleased to announce the addition of Tia Lynette Thomas to their professional team. Tia joins the team as a Tax Supervisor and specializes in state and local tax, individuals, and S-Corps. She brings over 20 years of experience to BGBC and a wealth of knowledge…
On May 13, the Small Business Administration (SBA) issued additional guidance regarding the Paycheck Protection Program (PPP). They added a highly anticipated new question to their lengthy FAQ: “How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request?” One of the requirements when submitting a PPP loan application is a…