Resources

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Key COVID-19-related funding updates for contractors

February 15, 2021

The COVID-19 pandemic continues to hold a firm grip on the marketplace, and many businesses are beginning to feel the COVID fatigue. As the complications from the pandemic continue well into 2021 for both contractors…

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IRS announces 2021 standard mileage rates for business, charitable, medical, and moving purposes

January 19, 2021

The Internal Revenue Service recently issued the 2021 optional standard mileage rates. These rates, which adjust every year to account for inflation of fuel costs, vehicle cost and maintenance, and insurance rate increases, will once again affect the way…

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Everything you need to know about the expanded ERTC

January 19, 2021

The employee retention tax credit (ERTC) is intended to provide liquidity to employers during the pandemic and was greatly expanded in the Consolidated Appropriations Act of 2021 thanks to Sections 206 and 207 of the Taxpayer Certainty and Disaster…

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Work-from-home tax implications: What employers and employees need to know

January 19, 2021

The pandemic created by the novel coronavirus has drastically changed the way we live and work. As more businesses are forced to send their employees home, work-from-home life has become a mainstay especially in knowledge-based jobs (jobs that do not…

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Application dates for second round of PPP funding announced

January 18, 2021

The U.S. Small Business Administration (SBA) and Treasury has announced that lenders with $1 billion or less in assets will be able to open applications for the next round of Paycheck Protection Program (PPP) funding starting Friday, Jan. 15 at 9 a.m.…

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Treasury issues interim final rules on updated PPP guidance

January 8, 2021

Two new interim final rules for the Paycheck Protection Program (PPP) have been released from the Small Business Administration (SBA) and Treasury in response to the changes and second round of funding enacted by the…

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Congress passes second Coronavirus relief bill, includes new funding and updates to PPP

December 22, 2020

The U.S. House of Representatives and U.S. Senate have passed the¬†Coronavirus Response & Relief Supplemental Appropriations Act, and President Trump has signed the bill. The agreement comes after weeks of negotiations and two funding extensions…

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The top 5 things contractors need to know about the PPP necessity form

December 10, 2020

As millions of Paycheck Protection Program (PPP) borrowers begin to fill out their loan forgiveness applications, another form is looming on the horizon. Protection of taxpayer resources and program integrity has been a focus for the Small Business Administration…

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How construction firms can prepare for cash flow challenges in 2021

December 10, 2020

The construction industry has faced unique and varying challenges a result of the coronavirus pandemic, but the restarting of projects and improved processes have put the industry on more comfortable ground to close out 2020. However, keep a…

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Guidance issued on deductibility of expenses with a PPP loan

November 19, 2020

On Nov. 18, the IRS and Treasury issued Revenue Ruling 2020-27 which provides long-awaited guidance on the tax treatment of expenses related to Paycheck Protection Program (PPP) loans. The guidance states that the expenses listed in section 1106(b) of the…

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We offer tax return preparation, financial statements, bookkeeping, consulting and a variety of other services for companies and individuals throughout the San Joaquin Valley and beyond.