SBA and Treasury Announce PPP Round 2, New Guidance

SBA and Treasury Announce PPP Round 2, New Guidance

From KM&M CPAs/National Society of Accountants —  WASHINGTON – The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced PPP Round 2 on Friday, Jan. 8. The Paycheck Protection Program (PPP) re-opened this week for new...
Focus: Extended COVID relief affecting individuals

Focus: Extended COVID relief affecting individuals

From KM&M CPAs/Thomson-Reuters —  Dear Clients and Friends, Here is an overview of key provisions in the extended COVID relief legislation enacted in late December that affect individuals. The legislation is the COVID-related Tax Relief Act of 2020 (the...
Coronavirus Assistance Checklist, Jan. 4 update

Coronavirus Assistance Checklist, Jan. 4 update

From the Pinnacle CPA Advisory Group —  CORONAVIRUS ASSISTANCE CHECKLIST by Dave Krebs, CPA (Jan. 4, 2021) This checklist was prepared for our clients and friends as a quick way to identify eligible, qualified programs. Please contact us for the details.  Many of the...
Additional 2020 economic impact payments

Additional 2020 economic impact payments

From KM&M CPAs/Thomson-Reuters —  Dear Clients and Friends, You’ve probably heard that IRS will be making millions of ”economic impact payments” (also called ”recovery rebates”) in the near future to help people stay afloat during this time of economic uncertainty...
IRS issues standard mileage rates for 2021

IRS issues standard mileage rates for 2021

From the IRS Newswire —  WASHINGTON — The Internal Revenue Service recently issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1,...