By Michael L. Cecere, CPA, MST Gray, Gray & Gray, LLP Despite a few delays and some initial confusion, the Paycheck Protection Program (PPP) loan program has distributed some $350 billion in low-interest loans to small businesses across the U.S and a new round of funding is in the works to be approved shortly. The […]
Being Smart About PPP Loan Proceeds Read More »
By Michael L. Cecere, CPA, MST Gray, Gray & Gray, LLP Businesses reducing headcount during the coronavirus pandemic should be aware that choosing between a layoff or a furlough will create different impacts on the company’s retirement plan or defined benefit plan. A furlough is a short-term cessation of work for a defined period. Although
How a Layoff or Furlough Might Impact Your Employee Benefit Plan Read More »
The Massachusetts legislature has passed an emergency act that institutes a moratorium on non-essential evictions and foreclosures of residential units and small businesses during the governor’s COVID-19 emergency declaration. The act is expected to be signed into law by Governor Baker immediately and will extend for 120 days from the date of signing, or 45
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The U.S. Small Business Administration (SBA), which is administering the Paycheck Protection Program (PPP) loan portion of the CARES Act, has issued a “new interim final” rule that clarifies eligibility for certain self-employed individuals and partnerships, calculation of eligible loan amounts, and rules regarding use of PPP funds in order to potentially qualify for loan
Paycheck Protection Program Rules Clarified Read More »
Discover proven, accessible approaches to thinking strategically about your business in order to make more informed decisions, with a focus on the six business drivers that will put you in a position to succeed. By Bryan E. Pearce Director of Strategic Business Planning Gray, Gray & Gray, LLP Being the CEO of a high-growth business
Strategy Session: Building a Great Board Read More »
The speed at which tax relief and financial support legislation has been enacted and implemented has resulted in some confusion and “tweaks” when it comes to final execution. We have been monitoring the various programs and are happy to pass along some clarification regarding the federal Paycheck Protection Program (PPP) and Massachusetts tax relief efforts.
Further Clarification on Paycheck Protection Program and Tax Relief Read More »
The Small Business Administration (SBA) has released guidelines on the Paycheck Protection Program (PPP) – a key portion of the recently enacted CARES Act. The PPP has up to $349 billion available for low-interest loans to help small businesses meet payroll and overhead costs through the next few months. While applications for the PPP are
SBA Releases Guidance on Paycheck Protection Program Read More »
President Donald Trump signed into law the historic Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion stimulus package to provide economic support to both individuals and businesses during the ongoing coronavirus crisis. This massive legislation goes far beyond tax policy changes to encompass a wide range of unemployment extensions and enhancements, and
How Will the CARES Act Impact You and Your Business? Summary of Key Points Read More »
The U.S. Senate has unanimously passed the Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion relief and stimulus package to provide economic support during the ongoing coronavirus crisis. An excellent summary of the Senate’s bill prepared by the Tax Foundation can be found here. While the Senate passed the bill unanimously, the
Senate Passes Economic Relief Package Read More »
Discover proven, accessible approaches to thinking strategically about your business in order to make more informed decisions, with a focus on the six business drivers that will put you in a position to succeed. By Bryan E. Pearce Director of Strategic Business Planning Gray, Gray & Gray, LLP “Hire for attitude. Train for skills” –
Strategy Session: Building and Retaining an “A Team” Read More »