PPP Loan Forgiveness – 3 Phases of Documentation

We are here with another PPP update and message.  By now, dealing with the PPP Loan program has become a daily conversation that you are probably ready to bring to an end.  Please do not get discouraged.  We are here to help as you go through the “Covered” period to...

SBA’s April 23 FAQ 31/37 – More Guidance on PPP Loans

In light of some public companies and some other large and/or wealthy organizations (for example, the LA Lakers) receiving PPP loans, the government has expounded on who should have and have not received a PPP Loan.  Under the original CARES Act, the PPP funding was intended to help businesses where...

Tracking Receipt & Disbursements of PPP Loan Funds

Once you have applied and been approved for your Paycheck Protection Program Loan (PPP), your attention needs to be turned towards tracking the receipt and subsequent disbursement of the funds. We recommend establishing a new bank account for these funds. Money Market or Savings accounts will be the quickest and...

Making Federal and NC Tax Payments Online

When making tax payments to the IRS or to the NC Department of Revenue (NCDOR), paying online is an available option.  Payments for Tax Due with Returns, for Estimated Taxes and for Extensions can be made using this method. To Make A Federal Tax Payment: Go to the IRS website...

New FLSA Overtime Rules Take Effect on Dec. 1st

UPDATE, NOVEMBER 22, 2016 On Tuesday, November 22, 2016, a federal judge blocked implementation of the Obama Administration rule increasing the salary threshold for avoiding overtime from pay of $455/week to pay of $913/week.  With the transition in administrations currently in process, the future of this rule is clearly in...