The Importance of Accurate Recordkeeping in the Age of COVID-19

April 7, 2020 | Blog | Chris Tierney, CTP, CFE, and Brian D. Renshaw, CPA

In the rush to get your PPP loan application in, along with trying to operate through the overall magnitude of the current situation, you might not be thinking about the importance of recordkeeping. But now is not the time to put off good, accurate recordkeeping....

Partner Compensation and CARES PPP Loans: What You Need to Know

April 6, 2020 | Blog | Andy Starnes, CPA

One of the more debated topics in the newly established Paycheck Protection Program (PPP) is the treatment of partner compensation, whether in the form of guaranteed payments or distributions. Specifically, the question is whether guaranteed payments or distributions...

Alert: SBA Releases New Details on 7(a) Loans – What You Need to Know

April 3, 2020 | Blog | Bert Mills, CPA; Andy Starnes, CPA; Chris Arnone, CPA; and Steven Murphy, CPA

On the evening of April 2, 2020, the U.S. Small Business Administration (SBA) issued an interim final rule for 7(a) loans under the CARES Act Paycheck Protection Program (PPP). As a reminder, this program offers $349 billion in loans to small businesses impacted by...

Urgent Action Needed: Banks begin taking SBA 7(a) loan applications on Friday, April 3, 2020

April 1, 2020 | Blog | Bert Mills, CPA, Managing Partner; Andy Starnes, CPA, Partner; Chris Tierney, CTP, CFE, Partner & Consulting Group Service Leader; and Tyler Wright, CPA, ABV/CFF/CFE, Consulting Director

On Friday, April 3, 2020, banks will begin taking Small Business Administration (SBA) 7(a) loan applications under the CARES Act Paycheck Protection Program. This $349 billion program will provide much-needed relief to millions of small businesses so they can sustain...

CARES Act Paycheck Protection Program 7(a) Loans – What You Need to Know

April 1, 2020 | Blog | Bert Mills, CPA, Managing Partner; Chris Tierney, CTP, CFE, Partner & Consulting Group Service Leader; Andy Starnes, CPA, Partner; and Tyler Wright, CPA, ABV/CFF/CFE Consulting Director

The CARES Act expands the ways the Small Business Administration (SBA) can help small businesses remain open and meet payroll. The law expands the allowable use of the so-called “Section 7(a)” or “PPP loans” funds to include payroll support, including paid leave,...

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