Paycheck Protection Program Flexibility Act Passed by the Senate! https://claytonmckervey.com/paycheck-protection-program-flexibility-act-passed-b... Posted2 days AGO It took a little longer than anticipated, but after some back and forth between a few Senators, the Senate passed the Paycheck Protection Program Flexibility Act (“The Act”) on June 3 with unanimous consent. We expect the President to sign the bill before the end of the week, giving small business more time to utilize their PPP loan funds and achieve full forgiveness. Read More
New Survey Findings Reveals the Impact of COVID-19 on Manufacturers https://claytonmckervey.com/covid-19-impact-manufacturers/ Posted2 days AGO COVID-19 has profoundly impacted business. The combination of stay-at-home orders, forced business closures, and fear of virus transmission meant some businesses had to cease operations entirely while others were tasked with challenging modifications to comply with state and local regulations. Read More
Navigating Business Issues During COVID-19 https://claytonmckervey.com/navigating-business-issues-covid-19/ PostedMonday, May 11,2020 at 1:11 PM The Coronavirus (COVID-19) threat has created uncertain conditions for individuals, families, businesses and the broader community. While concern for public health is necessary, the government’s action to prevent widespread transmission has had a significant impact on many companies. The stay-at-home orders and forced business closures have resulted in a drastic reduction in demand for goods and services, requiring many businesses to carefully review cash flow and financing opportunities to help survive the COVID-19 emergency. Read More
IRS Revises Cross-Border Activity During COVID-19 https://claytonmckervey.com/irs-cross-border-activity-covid-19/?utm_content=buff... PostedThursday, May 7,2020 at 12:20 PM The IRS has been busy, and this time, that is a good thing. Within the past couple weeks, they have released two Revenue Procedures (Rev. Proc.) and one frequently asked questions (FAQ) that explains how treatment of cross-border activities will change in light of the COVID-19 disruptions. Read More
Tales From the Front: New Funding, Loan Forgiveness Ambiguities and…Giving the Money Back? https://claytonmckervey.com/ppp-loan-funding-forgiveness/ PostedTuesday, April 28,2020 at 5:11 PM With round two of funding from phase 3.5, the Paycheck Protection Program and Health Care Enhancement Act ready for an SBA restart, businesses, and non-profit organizations will be divvying up a new pie with: Read More
7 Cash Considerations in Challenging Times https://claytonmckervey.com/7-cash-considerations-in-challenging-times/ PostedFriday, April 24,2020 at 10:22 AM We are living in unprecedented times; learning and adapting every day without clarity as to what the future may look like. In the midst of the uncertainty, it is as critically important that business owners lead and make wise decisions. Read More
Who Got What in the CARES Act Lending Program? Prepare for the Next Round of Funding Now! https://buff.ly/3bwZpiT PostedWednesday, April 22,2020 at 11:38 AM With the first round of funding going quickly, is your business ready to take advantage of the next round? Shareholder Tim Hilligoss highlights the key considerations. Read More
Senate Passes Additional Paycheck Protection Program (PPP) Funding https://claytonmckervey.com/senate-passes-additional-paycheck-protection-program... PostedTuesday, April 21,2020 at 7:57 PM Late this afternoon, the Senate passed a bill that expanded funding for PPP by an additional $310 billion. It also increased funding for the Emergency Injury Disaster Loan (EIDL) program by $60 billion, of which $10 billion is earmarked for grants, and $50 billion for the loan program. Read More
Guidance on Economic Stimulus PostedTuesday, April 21,2020 at 7:39 PM Clayton & McKervey, a full service CPA firm is focused on helping CSIA members compete in the global marketplace, is offering a special program for members! Read More
Changes to Employer Provided Education Assistance Due To COVID-19 https://claytonmckervey.com/employer-education-assistance-covid-19/ PostedMonday, April 20,2020 at 10:52 AM The COVID-19 pandemic has an impact on both businesses and individual taxpayers. As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, opportunities exist for employers to help their employees in multiple ways. One such opportunity relates to the change made to the Education Assistance Program. This change provides incentives for both employers and employees looking to reduce their tax bill and increase cash flow. Read More