Could you use some additional cash flow in your business? We thought so. Recent global events have certainly incentivized many tax decision-makers to prioritize tax planning that can increase cash and enhance overall business liquidity. This could mean a renewed focus on research and development credits (R&D credits). Specifically, more companies may be eligible to...Continue Reading
The U.S. Small Business Administration (SBA) has released the “Paycheck Protection Program Loan Forgiveness Application,” which contains information on PPP Loan forgiveness along with instructions for completing the application form. The SBA said its form and instructions are designed to reduce compliance burdens and simplify the process for borrowers. The form and instructions provide details on...Continue Reading
We have provided an update to the “economic uncertainty” language and the good-faith certification. Read More. The U.S. Treasury Department and the SBA are issuing new guidance on eligibility and use of Paycheck Protection Program loan funds under the CARES Act. However, their determination of ‘economic uncertainty’ and the ‘good faith certification’ made during the...Continue Reading
Anglin Reichmann Armstrong has developed a process to help you model potential forgiveness scenarios for PPP loan forgiveness. This is a critical process to pursue now because it will support your decisions for timely staffing/rehiring as well as proper use of PPP loan funds during the eight-week covered period. Contact us to learn more. What...Continue Reading
The federal government released new guidelines, formally known as Opening Up America Again, for states to plan to reopen the economy and business activity. The guidelines suggest data dependency (based on COVID-19 cases and statistics) and follow 14-day trends. The final decisions on reopening plans will be issued by state and local government, but businesses...Continue Reading
The Paycheck Protection Program loans as aligned with the Coronavirus Aid, Relief and Economic Security Act (CARES Act) were made available for application April 3, 2020. Already, there has been high interest and demand in this program, which is accessible for eligible employers through SBA-insured 7(a) program lenders and other authorized bank and credit union...Continue Reading
The American Institute of CPAs, the AICPA-led Coalition, and other key stakeholders – collectively representing 44K CPA firms, 2.5M small businesses and 30M employees – have come together to drive a common understanding and approach around the implementation of the U.S. Treasury and Small Business Administration Paycheck Protection Program (PPP). Based on these collective discussions...Continue Reading
Among just 90 U.S. firms named to both lists, Anglin Reichmann Armstrong is starting the New Year right with a national Top Firm ranking through Forbes. In a U.S. survey vetted through a market research firm, Anglin joined 227 large and small firms as “the most recommended firms for tax and accounting services in the U.S.”...Continue Reading
The US Financial Accounting Standards Board (FASB) new lease accounting standards has brought about many questions for companies that outsource production or logistics, including manufacturers and distributors. Here are some of the key considerations in evaluating supply arrangements to identify any contractual relationships. These relationships can impact bookkeeping and financial statement reporting going forward. In...Continue Reading
Winning the business while maintaining profitability is a fine art in pricing your goods or services. Knowing if your pricing is competitive isn’t always easy. This is an area of financial management that often isn’t reviewed enough to support good cash flow and competitive bidding. Here are some signs of low pricing and how to...Continue Reading
