Financial Accounting for PPP Loans
Paycheck Protection Program (PPP) was created as part of the Coronavirus Aid, Relief and Economic Security…
Compensation Cap for 2019 and 2020
The compensation limit for government contractor employees, as established by Section 702 of the Bipartisan Budget…
Maryland Expands Pass-through Entity Tax to Circumvent Federal SALT Limitation
Maryland has become the most recent state to adopt a workaround to the federal $10,000 state…
Paycheck Protection Program Update: Don’t Forget the Forgiveness!
Last Updated: May 21, 2020 The Paycheck Protection Program (PPP) was created on March 27, 2020…
New HSA Contribution Limits Released for 2021
The IRS recently released Revenue Procedure 2020-32, the 2021 annual contribution limits for health savings accounts (HSAs).…
DoD Draft Guidance – Process for 3610 Reimbursement
The U.S. Department of Defense (DoD) issued draft guidance on the DoD Process for 3610 Reimbursement…
Home Office Deduction During COVID-19
Historically, the home office deduction has been available to anyone who has had to work from…
D.C. Updates QHTC Regulations
Effective May 1, 2020, the District of Columbia amended its regulations pertaining to Qualified High Technology…
SBA Releases PPP Loan Forgiveness Application
On the evening of May 15, 2020, the Small Business Administration (SBA) released Form 3508, Paycheck…
IRS to Permit Mid-Year Health Plan Changes
As part of the Federal Government’s ongoing response to the COVID-19 pandemic, the IRS issued Notice…