New Interim Final Rule Issued

Posted by Sarah Russell on August 25, 2020

The SBA and Treasury issued a new interim final rule on August 24, 2020 with updates regarding owner-employee compensation and forgiveness eligibility associated with Paycheck Protection Program (PPP) forgiveness. Here is a summary of the key updates.


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All Things Considered: Featuring Sarah Russell

Posted by Sarah Russell on June 30, 2020

Shareholder Sarah Russell continues her education of the PPP loan during a recent interview on Michigan’s All Things Considered radio program. Sarah led an 9-week live video series on the topic and has been a regular contributor of content related to the CARES Act, the PPP loan and loan forgiveness.


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Paycheck Protection Program Flexibility Act Passed by the Senate!

Posted by Sarah Russell on June 4, 2020

It took a little longer than anticipated, but after some back and forth between a few Senators, the Senate passed the Paycheck Protection Program Flexibility Act (The Act) on June 3 with unanimous consent. We expect the President to sign the bill before the end of the week, giving small business more to utilize the funds and achieve full forgiveness.


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Fixes to Paycheck Protection Program on the Way?

Posted by Sarah Russell on May 21, 2020

As small business owners begin to navigate the loan forgiveness portion of the Paycheck Protection Program it has become clear many will not be able to achieve full forgiveness because they will not be able to spend all of the funds in 8-week Covered Period. 


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Good News for PPP Loan Borrowers

Posted by Sarah Russell on May 14, 2020

As we have previously stated, there is a fair amount of uncertainty regarding all of the rules surrounding the Paycheck Protection Program (PPP). One item which caused concern among many small businesses was the previous SBA guidance regarding the good-faith certification required as part of the PPP application.


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The CARES Act Fosters Collaboration

Posted by Sarah Russell on April 10, 2020

As the leader of the firm’s tax team, Shareholder Sarah Russell has been on the front lines of the CARES Act; particularly the need for accountants and attorneys to collaborate to support the business community.


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CARES Act Video: April 14, Noon to 1pm

Posted by Sarah Russell on April 10, 2020

As the largest stimulus package in U.S. history, the CARES Act has generated plenty of conversation. Between the tax filing changes and many different options within the stimulus packages, where should leaders focus first?


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Treasury Announces 90-Day Extension

Posted by Sarah Russell on March 18, 2020

Yesterday we let you know the Treasury has announced they were providing a 90-day extension of time to pay taxes owed for many taxpayers.   Today the IRS has provided some guidance as to what was included in the extension.  


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Coronavirus: Families First Response Act

Posted by Sarah Russell on March 18, 2020

Coronavirus has affected almost all facets of life.  The stock market has plummeted, schools have closed, church services have been canceled or are being live-streamed, sporting events and concerts are canceled, travel is restricted, and toilet paper has become a scarce commodity. 


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Research & Experimentation Funding for Control Groups

Posted by Sarah Russell and Tim Finerty on January 2, 2019

A common misconception about the Research and Experimentation Tax Credit for Increasing Research Activities (hereinafter the R&E Credit) arises when control group members share expenses related to qualified research activities; and when the ultimate user or decision maker is not the same entity who conducted the research activities.


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PPP Loan Forgiveness FAQs

Posted by Tim Hilligoss and Sarah Russell on August 10, 2020

The COVID-19 pandemic caught many by surprise including business owners who were required to comply with forced business closures and others who experienced modified operating rules or dwindling demand.


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Sarah Russell

Shareholder, Tax

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