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New PPP Loan Forgiveness Applications and Additional Guidance Released Pursuant to the Protection Program Flexibility Act

June 18, 2020

Reminder – Payroll Protection Program Funds Are Still Available! If the current economic uncertainty is affecting your business, there is good news, funds are still available under the Paycheck Protection Program. However, borrowers need to act quickly because the deadline to receive a loan number from the SBA is June 30, 2020, and the lender […]

Guidance Issued on the Paycheck Protection Program Flexibility Act

June 12, 2020

Payroll Protection Program Funds Are Still Available! If the current economic uncertainty is affecting your business, there is good news, funds are still available under the Paycheck Protection Program. However, borrowers need to act quickly because the deadline to receive a loan number from the SBA is June 30, 2020, and the lender will need […]

Congress Passes the Paycheck Protection Program Flexibility Act

June 4, 2020

What This Means for Borrowers The coverage period is extended! Borrowers now have 24 weeks from the origination date (or until December 31, 2020, whichever is earlier) to utilize the funds for approved expenditures. This is a substantial increase from the initial eight-week coverage period. This flexibility allows companies that are still not fully operational […]

Paycheck Protection Program FAQs

May 26, 2020

View the Paycheck Protection Program FAQs at treasury.gov: Paycheck Protection Loans FAQs

COVID-19-Related Employee Retention Credits

May 7, 2020

How to Claim the Employee Retention Credit FAQs: Read the FAQs at IRS.gov

Helping children through the COVID-19 pandemic

April 14, 2020

With schools closed across the country, the absence of personal computers in homes can pose a substantial obstacle for students trying to do their schoolwork from home. Houston-based charity Comp-U-Dopt has been working for years to close this gap, diligently pursuing their mission to provide computers to children in need. Desroches Partners has long supported […]

New loan relief announced for employers with up to 10,000 employees

April 10, 2020

Main Street New Loan Facility Effective April 9, 2020 1 Program: The Main Street New Loan Facility (“Facility”), which has been authorized under section 13(3) of the Federal Reserve Act, is intended to facilitate lending to small and medium-sized businesses by Eligible Lenders. Under the Facility and the Main Street Expanded Loan Facility (“MSELF”), a […]

IRS grants everyone more time for other deadlines

April 10, 2020

Taxpayers were granted additional, broad tax filing and payment deadline relief by the IRS late on Thursday, April 10, in line with relief requested by the AICPA over the past several weeks amid the coronavirus pandemic. The new relief, issued in Notice 2020-23, applies to all taxpayers that have a filing or payment deadline falling […]

Staying sane during these crazy times

April 3, 2020

SBA programs to help small businesses impacted by coronavirus

March 30, 2020

Through the recent CARES act, the United States federal government has dedicated over $350 billion in relief for small businesses available through several loan programs. Businesses are eligible if they have fewer than 500 employees and certify that their business has been impacted by COVID‐19. These loans are called: Paycheck Protection Program Economic Injury Disaster […]

CDC offers strategies for coping with stress and anxiety

March 27, 2020

Coronavirus reached global pandemic level last week, which means bad news is coming to us from all over the world. And with news blasting into our lives at machine gun rate ever since the Internet took off, the situation can look downright bleak. Feeling overwhelmed, even terrified, is a perfectly normal, healthy response. Getting bogged […]

Business owners: Get familiar with the moving parts in COVID-19 pandemic

March 27, 2020

This article is incomplete! Things have gotten weird lately, and most–if not all–of us are sailing through uncharted waters. If you’re like most people, all the tax and policy buzzwords zipping around are amalgamating into a big, amorphous cloud. Here’s a quick rundown of the important moving parts you’ve probably been hearing about. Families First […]

Things employers can do for employees amid COVID-19 pandemic

March 27, 2020

The term “human resources” implies that people are extremely valuable to the organizations that employ them. In times of difficulty, such as the one we’re in currently, a good employer will safeguard their people, not only out of kindness and decency, but in the interest of the relationship. Below are a number of suggestions for […]

SBA Referral Programs assist with disaster loan caseload

March 26, 2020

The Small Business Administration has been mandated (and funded) to supply low-interest loans to businesses experiencing hardship due to COVID-19. Coronavirus has proven itself to be such a nuisance, however, that the SBA has enlisted the help of partners to process the applications. Houston area business can reach out to any of the following organizations […]

CARES Act: What it is and what it does

March 26, 2020

On March 25th, 2020, the much anticipated and debated Coronavirus Aid, Relief, and Economic Security Act was passed unanimously by the Senate. Now the legislation moves to the House for passage and then the President’s desk for enactment which will hopefully occur by the end of the week. While many of the details related to […]

Paid family and medical leave is expanded by Families First Coronavirus Response Act

March 26, 2020

The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide their employees with paid sick leave and expanded family and medical leave for specified reasons related to COVID-19. These provisions will apply from April 1, 2020 through December 31, 2020. Paid Leave Entitlements Generally, employers covered under the Act must provide […]

Desroches Partners updates payment preferences in response to COVID-19

March 26, 2020

With new guidelines about social distancing, our team has starting been remotely. The office is a ghost town and our homes are bustling with activity. Thank goodness we live in a time where miles of distance is no obstacle to clear communication! Because we’re doing our social duty by avoiding face-to-face contact, we’re also adjusting […]

90 ideas to cut costs and increase cash flow

March 24, 2020

The following is excerpted from the book All About Earnings: 100 Ways to Profit in Any Economy by Barry Schimel and Gary Kravitz. When cash gets tight and you need to cut costs or find ways to increase cash flow always remember that your fellow Vistage group members offer a wealth of good ideas to […]

State Tax Relief Developments related to COVID-19

March 24, 2020

U.S. states are providing tax filing and payment due date relief for individuals and businesses. The AICPA has compiled the latest developments on state tax filings related to coronavirus. View the document

IRS filing and payment deadlines have been changed…in your favor

March 17, 2020

We’ve all got our hands full these days. Though it sometimes seems the opposite is true, the IRS is actually here to help protect the interests of American businesses. In response to the coronavirus pandemic, they’ve extended a bunch of deadlines, and have published a comprehensive guide to help you understand what your new tax […]