The U.S. Treasury and Internal Revenue Service released additional guidance on August 28, 2020, related to the Executive Order authorizing the deferral of employees’ portion of the payroll tax. The deadline for employers to begin withholding the 6.2% employee portion of payroll tax was September 1, 2020. However, Treasury Secretary Steven Mnuchin has said he...Continue Reading
PENSACOLA, FLA. September 2020 — More than 30 years ago, Jeanette Geri joined Donna Bloomer on an adventure to start a new kind of CPA firm, Bloomer & Geri. She was rewarded for her dedication to the Pensacola firm by becoming one of the industry’s first non-CPA partners. On September 1, Geri will enter a...Continue Reading
Every business owner planning to sell their company aims to get the highest value at the time of the sale. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) is a tool that can help do just that. However, as with any financial adjustment, you need to proceed with caution and do it correctly to...Continue Reading
The Deltek | Clarity Government Contracting Industry Study for 2020 was recently released. This study addresses the trends and conditions transforming the government contracting market. This is the 11th annual study from Deltek and it continues to prove insightful for government defense contractors. According to Deltek, “The results of the 11th Annual Study remain positive,...Continue Reading
Anglin Reichmann Armstrong is pleased to announce that Ryan Campbell, CPA, CGMA, CVA will join its Pensacola office as Partner in Charge, July 15, 2020. Partner Donna Bloomer will transition her time into client relationships and managing the firm’s Estate and Trust taxation and planning practice. As Partner in Charge, Ryan will lead management responsibilities...Continue Reading
New Paycheck Protection Program (PPP) guidance was released last week by means of a 34-page interim final rule (IFR) issued in consultation with Treasury, in which the U.S. Small Business Administration (SBA) addresses a number of issues related to the PPP program. Most notably, the new guidance states that PPP recipients can apply for loan forgiveness before the...Continue Reading
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
On June 8, 2020, the Federal Reserve Board announced the expanded Main Street Lending Program and its pending launch this week. The program offers favorable lending terms for small to mid-sized businesses to assist in financial hardships due to COVID-19 and the shutdown of much of the economy over the past few months. This program...Continue Reading
Good news regarding the latest PPP legislative update! Congress has passed and the President has signed H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020. The Paycheck Protection Program Flexibility Act creates more flexibility for borrowers using PPP funds. The bill extends the time period for businesses to use the funds from 8 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
