COVID-19 Business Services

Supporting Your Business Through Covid-19

With an ever-changing economic environment, we find businesses need much more from their CPA than just traditional tax compliance services. Smith Schafer is here to help with a suite of services to support your business through the current challenges.

Help with Business Decisions

Our experts can conduct a thorough analysis of your business and develop a strategic plan, including:

– Cash flow analysis & projections
– Reassess recordkeeping
-Analyze drivers & KPIs
-Evaluate operations

We will work with you and provide a plan of action to achieve sustainability throughout this crisis.

Help with Accounting & Financial Tasks

Accounting activities have become more complicated for companies participating in the federal Paycheck Protection Program. Outsourcing accounting or financial tasks allows you to keep your focus on where it matters. To help business owners overcome these challenges times, Smith Schafer is offering scalable accounting services. 

Help with PPP Loans

Companies that have managed to secure financing through the Paycheck Protection Program (PPP) are fortunate—but also saddled with a lot of red tape. Business owners and managers should be careful that they adhere strictly to the terms of the program to qualify for loan forgiveness.

We can help calculate the PPP loan amount, forgiveness amount, expense tracking, answer questions, and make the process easier for you.

Help with Buying or Selling Business

These difficult times have taken a toll on businesses. Some owners are considering selling their business or consolidating. While negotiating a merger or business sale, it is helpful to conduct a valuation. There is more to business value than simply your balance sheet today. Our goal is to make sure you are getting the best purchase price, even during the current crisis.

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Help with COVID-19 Tax & Payroll Credits

Amidst the current crisis, two significant pieces of stimulus legislation were signed into law and provide opportunities for businesses. We can help you identify all credits you may be eligible for, such as the Employee Retention Credit, Paid Sick Leave, and more.

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Help with Business Interruption Insurance Claims

We can add credibility to your business interruption insurance claim by calculating income losses using commonly accepted techniques. Smith Schafer experts can help with claim preparation, litigation support, calculations, and more.

We recognize your business may be facing decisions you have never had to face, and we are here to help. We are monitoring all bills passed for their impact on our clients and will help you navigate through this season of your business.

Our Latest Blog Posts

4 Recent Accounting Changes

4 Recent Accounting Changes

Reading Time: 3 minutes Whether it is working from home, virtual school, or curbside pickup at your favorite restaurant, 2020 has had no shortages of changes and required adaptations. Accounting in 2020 is not exempt from these changes.

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Payroll Tax Deferral Guidance

Payroll Tax Deferral Guidance

Reading Time: 2 minutes On August 8, 2020, President Trump issued an executive order and three memoranda providing or extending COVID-19 relief to individuals and organizations. On August 28, 2020, the Department of Treasury and Internal Revenue Service issued guidance for implementing the memorandum’s payroll tax deferral portion.

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Post-Covid: Owning a Business in the New Normal

Post-Covid: Owning a Business in the New Normal

Reading Time: 2 minutes Managing through the COVID-19 business disruption, you have been adapting and stretching your creativity to safeguard business continuity. You are learning what it takes to thrive in the new normal of business.

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