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Accounting for employee retention credits

  • May 6, 2022

Congress passed programs to provide financial assistance to companies during the COVID-19 pandemic, including the employee retention credit (ERC). The ERC provides eligible employers with credits per employee based on qualified wages and health insurance benefits paid. Continue Reading

PPP forgiveness too slow in some cases, inspection finds

  • February 28, 2022

The U.S. Small Business Administration (SBA) did not meet the 90-day statutory requirement to remit Paycheck Protection Program (PPP) forgiveness payments to lenders for loans totaling $66.4 billion, according to a report released Monday by the Office of the Inspector General (OIG). Continue Reading

Reinvest that PPP windfall

  • November 12, 2021

Many firms only experienced a small decrease in revenues during the COVID-19 pandemic, and are now in a position to reinvest their Paycheck Protection Program federal grant/loan. Continue Reading