By Kathy Davis and Robert Jackson, CPA Thursday, January 14, 2021 On Monday of this week the SBA re-opened first draw PPP applications to Community Financial Institutions (which include Community Development Financial Institutions, Minority Depository Institutions, Certified Development Companies and Microloan Intermediaries) and second draw applications to those same lenders on Wednesday. Beginning tomorrow (Friday, …
By Kathy Davis and Robert Jackson, CPA The SBA has released the application for the Second Draw PPP loan, SBA Form 2483-SD. This second round is intended for those recipients that have experienced a significant decline in revenues in 2020. This round also offers further benefits to those in the restaurant industry, hotels and others …
Second Draw Paycheck Protection Program (PPP) Loans Read More »
AKRON, Ohio – (January 11, 2021) – Apple Growth Partners (AGP), award-winning accounting and business advisory firm, proudly announces three staff appointments and three new hires to expand its shared services and tax team. Steve Mazza, CPA, has been promoted to principal in the tax department. Beginning his career as an intern with AGP, Mazza …
Apple Growth Partners Continues to Invest in Top Talent, Expands Team Read More »
By Robert Jackson, CPA December 22, 2020 Late last night the Senate overwhelmingly passed the long-awaited Covid-19 stimulus and funding package, preceded by a similar response in the House. The White House has indicated that the President will sign it. The package, which originally began as a funding bill, provides much needed relief to the …
COVID-19 STIMULUS BILL PASSED, PRESIDENT EXPECTED TO SIGN INTO LAW Read More »
By Robert Jackson, CPA December 15, 2020 As we approach the end of the year, we wanted to remind you that non-PPP loan payments made by the SBA pursuant to Section 1112 of the CARES Act are taxable. Borrowers should expect a Form 1099-MISC early in 2021. Section 1112 of the CARES Act required the SBA …
December 2, 2020 By Robert Jackson, CPA | COVID-19 Response Team Just before the Thanksgiving holiday, the SBA announced to lenders that the PPP Forgiveness Platform, which is available only to lenders, has been updated to include the new Loan Necessity Questionnaires (i.e. for loans of $ 2 million or more) that we discussed in …
November 20, 2020 By Kathy Davis, CPA, and Robert Jackson, CPA | COVID-19 Response Team Late Wednesday, November 18, 2020, the IRS issued Revenue Ruling 2020-27. The IRS is taking the position that expenses paid with Paycheck Protection Program (PPP) loans during the covered period are not deductible if, as of the end of the …
Achievement Recognized at the 2020 AICPA FVS Conference AKRON, OH (November 10, 2020) – The American Institute of CPAs (AICPA) Standing Ovation Recognition Program has recognized Eric Flickinger, CPA, ABV, as one of 22 outstanding young CPAs in the area of business valuation. Flickinger, along with a select group of CPAs age 40 and younger from …
November 3, 2020 By Robert Jackson, CPA | COVID-19 Response Team Last week, the SBA announced that it will be issuing two new questionnaires for those borrowers who, together with their affiliates, received Paycheck Protection Program (PPP) loans of $ 2,000,000 or greater. The questionnaires are designed to help the SBA determine the extent of loan …
New SBA Qualification Questionnaire Requirement for PPP Loans in Excess of $2M Read More »
November 2, 2020 By Dmitriy Berkovich, CPA | COVID-19 Response Team From the Federal Reserve website: The Federal Reserve Board on Friday adjusted the terms of the Main Street Lending Program in two important ways to better target support to smaller businesses that employ millions of workers and are facing continued revenue shortfalls due to …
