9 Most Common PPP Loan Forgiveness Issues

nine most common ppp loan forgiveness issues

$793 billion was issued to 11.5 million small businesses through the Paycheck Protection Program (PPP) as part of the Covid-19 relief program. The intent of the money was to allow small businesses to continue to pay employees while they were not working because of the pandemic. Small businesses that accept PPP loans can apply for […]

Employee Retention Credit Eligibility – The Complete Factor List

erc eligibility checklist

There are 32.5 million small businesses, which accounts for 99.9% of all businesses in the US. In March 2020, 70% of all small businesses temporarily shut down when the pandemic spread through the US. In the subsequent months and years, the federal government offered several financial support options to help small businesses survive the pandemic.  […]

Your Guide to Disaster Recovery and Business Continuity

A disaster recovery and business continuity plan in a filing cabinet with company, clients, and procedures documents

Key Takeaways: You may think your business’s systems and operations are solid no matter what happens in the future. Disasters happen, however, even with the best-laid strategies in place. You may experience many kinds of disruptions over the years, such as a global pandemic, economic crisis, cyberattack, natural disaster, or data breach.  These disruptions can […]

Employee Retention Credit Examples: The SMB Guide

A woman small business owner looking at an employee retention credit example while doing taxes on a laptop.

Key Takeaways: Small business owners are likely aware that the government passed legislation during the COVID-19 pandemic to give business owners new options for relief. One initiative was the Payment Protection Program (PPP), which helped employees keep their staff with a large loan option that could be completely forgiven.  The employee retention credit (ERC) was […]

Government Shutdown Updates: Your One-Stop Info Guide

We are closed temporarily sign in a business window, indicating a U.S. government shutdown update.

Key Takeaways: The U.S. government relies on a budget for each fiscal year, just like a business does. Laws were put in place in the 1970s that require the government to shut down if Congress cannot enact all appropriation bills for the next year of funding, so shutdowns often happen at the end of the […]

What Nonprofits Need to Know about the Employee Retention Tax Credit

Nonprofit employees putting their hands together in a circle celebrating the nonprofit ERTC.

Key Takeaways: Small businesses of all kinds experienced significant challenges because of the COVID-19 pandemic. Many had to close temporarily, some for good, because of gathering restrictions or revenue loss. New legislation and economic uncertainty meant that many businesses had trouble staying on top of considerations like tax preparation and financial health. Nonprofit organizations were […]

Form 8941: Credit for Small-Business Health Insurance Premiums

small business health insurance

Running a small business today is expensive, especially when you factor in employee health care costs. The good news is small business owners can recoup some of the costs of small business health insurance and even lower their overall business taxes. The government offers incentives to help manage the expense of contributing to employee health […]

Understanding Refundable Credits and the ERTC

A businessman at his desk counting a stack of hundred dollar bills at his desk from his ERTC refundable tax credits.

Key Takeaways: One of your biggest goals as a business owner is to pay the least amount of tax legally possible each year. You want to minimize what you have to send to the IRS to save money for your business and continue growing.  Tax credits exist to help businesses and individual taxpayers reduce their […]

Credit for Employer-Provided Childcare Facilities and Services (Form 8882): An Overview

form 8882

Fifty-seven percent of parents say that childcare responsibilities impact their ability to work. Offering childcare benefits increases employee retention, loyalty, productivity, and workplace environment. Despite these statistics, only 11% of workers have access to childcare benefits. Are you aware that the federal government offers an employer childcare tax credit? The credit is available for helping employees […]

The Employee Retention Credit Is Over, So What’s Next?

A small business owner smiling in a workspace after filing for the ERTC.

Key Takeaways: Small businesses around the nation felt the devastating impacts of the COVID-19 pandemic, and many continue to feel the effects today. The U.S. Small Business Optimism Index was 91.3 in October 2022, down from 98.2 just a year earlier. This index uses indicators like plans to create jobs, expectations for the economy to […]