As businesses move forward in applying for a second-draw Paycheck Protection Program loan, or PPP2, it is important to remember the maximum loan size is capped at $2 million for businesses, as well as their affiliates. That means the total amount a business and its affiliates can apply for is capped at $2 million. Businesses are also only eligible if collectively with their affiliates the employee count is below 300.

For purposes of the PPP loans, per the U.S. Small Business A Read More >>

The U.S. Small Business Administration (SBA) has seen an influx of fraud surrounding applications for federal aid. The most common fraud occurring is email phishing where a scammer impersonates the SBA via email with the goal of collecting personally identifiable information (PII).

Those who have applied for the SBA’s Economic Injury Disaster Loan Program seem to be at high risk for receiving phishing emails asking them to “verify their accounts”, but really, the scamm Read More >>

Tax planning isn’t something that just comes around at the end of each year. To ensure your company is taking advantage of all available opportunities to lower your tax responsibility, consider the following as you plan for 2021:

  1. Research and Development Tax Credit
    While any qualifying activity must pass the four-part test (permitted purpose, technical uncertainty, process of experimentation and technical in nature), the Research and Development tax credit is applic
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Charitable giving is appreciated at every level. Any time an individual gives, no matter the amount, it is a precious gift. Some donors may be in a position to give to a nonprofit they are passionate about. In this case, a donor advised fund (DAF) might be an effective way to maximize their gifts. Donor advised funds are charitable investment accounts established at a public charity to support charitable 501(c)(3) organizations and allow donors to take an immediate tax deduc Read More >>

Sending a thank you note after receiving a charitable gift to your nonprofit seems like a simple, but polite, way to recognize a donor. In reality, this acknowledgement is an extremely important piece of the donor/nonprofit relationship.

More Than Thank You

A thank you note is truly more than just a thank you. The IRS imposes recordkeeping and substantiation rules to both nonprofits and to donors.

Donors are responsible for obtaining written acknowledgment from a charity Read More >>

There has been a marked increase of fraud cases surrounding unemployment benefits, particularly in the state of Ohio. This amounted to at least $330 million in fraudulent pandemic unemployment benefits distributed between April and December 2020.

To combat this very serious issue, the state of Ohio launched a new resource portal (https://unemploymenthelp.ohio.gov/) for employers to alert the state if they suspect their employees’ or their own information has been c Read More >>