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COVID-19

COVID-19, Tax & Assurance Guidance

Employers Entitled to Tax Credits for Providing PTO for COVID-19 Vaccines

Posted on April 28, 2021 by

The American Rescue Plan Act of 2021 extended the tax credits for employers who provide paid sick and family leave to employees affected by COVID-19. Eligible employers who offer PTO for COVID-19 vaccines can now receive the credit.

COVID-19, Tax & Assurance Guidance

IRS Extends Individual Tax Filing Deadline to May 17

Posted on March 18, 2021 by

On March 17, the IRS announced an extension of the April 15 filing deadline to May 17 for individual taxpayers. Learn about the key extension details and other important considerations.

COVID-19, General

American Rescue Plan Act: Key Impacts

Posted on March 17, 2021 by

Review the key impacts of the $1.9 trillion American Rescue Plan Act, including another stimulus payment and extended unemployment benefits.

COVID-19, General, Tax & Assurance Guidance

IRS Issues New Guidance on PPP and Employee Retention Credit Eligibility

Posted on March 3, 2021 by

The IRS recently issued highly anticipated guidance about PPP and employee retention credit eligibility and qualified wages.

COVID-19, Tax & Assurance Guidance

Stimulus Checks and the Recovery Rebate Credit

Posted on January 28, 2021 by

To combat the hardship presented by COVID-19, legislation was signed in late 2020 enabling many taxpayers to receive two rounds of “Stimulus Checks,” or “Economic Impact Payments” (EIPs) throughout the year. Learn what this means for taxpayers.

COVID-19, General, Tax & Assurance Guidance

Do You Qualify for Employee Retention Tax Credit Refunds?

Posted on January 27, 2021 by

PPP loan recipients can claim the ERC for eligible wages that were not paid for with PPP forgiven loans. The change is retroactive to March 2020 and means certain businesses should immediately claim refunds. Learn more about the qualification requirements and cash benefits.

COVID-19, General

Clayton & McKervey Announces New Stimulus Benefits Check-in Service

Posted on January 21, 2021 by

Clayton & McKervey, a certified public accounting and business advisory firm helping growth-driven companies compete in the global marketplace, has immersed itself into the inner workings of the latest COVID-19 stimulus package to fully serve its clients.

COVID-19, International Businesses

Are Foreign-Owned or Controlled Companies Eligible for a PPP 2.0 Loan?

Posted on January 18, 2021 by

Foreign-owned or controlled businesses in the U.S. may be wondering if they will be able to receive an initial or second PPP loan this time around. Learn more about eligibility requirements for foreign-owned businesses.

COVID-19, General

PPP Loan Round 2 – Should You Apply?

Posted on January 14, 2021 by

A new round of PPP loans was ushered in with the passage of the Economic Aid Act on December 27, 2020. In addition to the 2nd draw loans, eligible businesses that did not receive a PPP loan in the first round of funding have an opportunity to apply for a PPP loan.

COVID-19

COVID-19 Stimulus Bill

Posted on December 29, 2020 by

After a surprising delay, on Sunday, December 27 President Trump signed the $900 billion COVID relief bill which was part of the larger annual federal spending package. Here is a summary of the highlights included in the Stimulus portion of the bill.

COVID-19, Digital Advisory Services, General, Manufacturers & Distributors

Inventory Optimization Creates Expanded Working Capital

Posted on December 14, 2020 by

Many businesses were caught off guard by the COVID-19 pandemic. Stay-at-home orders and mandatory business closures created significant operational challenges.

COVID-19, General, Manufacturers & Distributors

Financial Tips for Managing the COVID-19 Fallout

Posted on November 19, 2020 by

COVID-19 has had a significant impact on Michigan manufacturing, forcing many to shift strategies to cope under crisis. Here are some financial tips for managing the ongoing COVID-19 fallout.

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Data-driven decision making: 3 key insights for business owners

What does it take to build a data-driven business? For self-reliant leaders who feel they’ve hit a plateau when it comes to scaling a business, adopting a data-driven approach can be a breakthrough success strategy. Using data in a more focused way helps good engineers become good entrepreneurs. It’s about creating balance. Here we take a look at key insights for business owners when using data in decision making.