(The.Idea.Exchange) Blog. Timely articles on a wide range of topics including new tax legislation, accounting regulations, best practices, industry news, business insights and more.
The Employee Retention Credit, or ERC, is a significant tax credit enacted in 2020 under the CARES Act to help businesses keep employees on payroll during the COVID-19 pandemic. Since then, the ERC has been significantly expanded and extended for …
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Registration for the SBA’s Restaurant Revitalization Fund (RRF) relief program application portal will begin on Friday, April 30, 2021, at 9 am ET. Applications will open on Monday, May 3, 2021, at noon ET, the U.S. Small Business Administration (SBA)…
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Updated 4.23.2021 Updated launch date: The SBA announced that is has completed rigorous testing and the Shuttered Venue Operators Grant application portal and it will reopen on Monday, April 26 at 12pm ET. Applicants may continue to register for an…
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Updated 4-6-2021 The American Rescue Plan Act of 2021 (the “Act”), signed by President Biden on March 11, 2021, includes within Section 5003 a $28.6 billion appropriation to establish a Restaurant Revitalization Fund (the “RRF”) to provide tax-free federal grants…
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On Wednesday, March 31, 2021, the President signed the PPP Extension Act of 2021, H.R. 1799 which moves the Paycheck Protection Program (PPP) application deadline from March 31 to May 31. This provides an additional 60 days for businesses to…
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The U.S. Small Business Administration is more than tripling the maximum amount that small businesses and nonprofits can borrow under the COVID-19 Economic Injury Disaster Loans (EIDL) program. Starting the week of April 6, the loan limit for COVID-19 EIDL…
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The U.S. Small Business Administration (SBA) issued new Paycheck Protection Program (PPP) rules that allow self-employed individuals who file Form 1040, Schedule C, Profit or Loss From Business, to calculate their maximum loan amount using gross income instead of net…
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