Tax & Accounting Blog
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10 FAQs: Accounting for PPP Loans and Forgiveness
Reading Time: 4 minutes Under the Paycheck Protection Program (PPP), the federal government authorizes up to $349 billion in forgivable loans to small businesses during the COVID-19 crisis. Small businesses are receiving loans, and many have questions on how to account for the funds, expenses, and forgiveness in their accounting records.
SBA Guidance on PPP Loan Forgiveness
Reading Time: 2 minutes On Friday the SBA issued its Interim Final Rule (IFR) on Loan Forgiveness for Paycheck Protection Loans. While the IFR largely mirrors the Loan Forgiveness Application Form released the prior Friday, a few additional items of note were included in the IFR.
How Covid-19 is Effecting the Transportation Industry
Reading Time: 3 minutes The transportation industry is feeling the impact of the COVID-19 crisis in a variety of ways. To assist transportation companies during this uncertain time, the Smith Schafer Transportation Experts are providing a list of the top questions we hear from the industry.
What is a Buy Sell Agreement?
Reading Time: 2 minutes There are several reasons why a business should have a buy sell agreement. A buy sell agreement governs what happens in certain situations when a company is owned jointly with others.
