During April 2021, the Internal Revenue Service (“IRS”) issued updated guidance for employers regarding the Employee Retention Credit (“ERC”) and credits for paid sick and family leave (“Paid Leave”). Employee Retention Credit On April 2nd, 2021 the IRS published Notice 2021-23, which explains the changes to the Employee Retention Credit for the first two calendar

2nd Round Covid–19 Relief

COVID-19 Relief Included in the Consolidated Appropriations Act of 2021 A new stimulus package has been released under the Consolidated Appropriations Act of 2021 (the “Act”). This second round of relief will provide much-needed aid for small businesses and unemployed Americans. The primary changes between the Act and the first relief package, the CARES Act,

UPDATED COVID-19 RELIEF – Employee Retention Tax Credits

Under the Consolidated Appropriations Act of 2021, which was signed into law by President Trump on December 27, 2020 (the “Act”), significant changes were made the employee retention tax credit (“ERC”) enacted under the CARES Act.   Originally, companies were forced to choose between receiving a PPP loan or taking the ERC.  As a result, the

PPP Loans & Business Expense Deductions

Taxpayers who reasonably expect their Paycheck Protection Program (PPP) Loans to be forgiven cannot deduct otherwise eligible expenses in 2020 if they used their PPP loan to pay the expenses. Background & More Information On April 30, 2020, the Internal Revenue Service (IRS) issued Notice 2020-32, providing that a taxpayer that receives a PPP Loan


This year has been an unprecedented year for us all, and we have faced unforeseen challenges in the wake of the pandemic. To attempt to alleviate a portion of the financial impact from the pandemic, the government passed the Coronavirus Aid, Relief & Security Act (the “CARES Act”) and continued to implement the taxpayer friendly

All About the Payroll Tax Holiday

President Trump announced four executive orders on Saturday, August 8th, 2020. One of the Orders included a payroll tax holiday that will start September 1st, and go through December 31st, 2020. The President directed the Secretary of the Treasury to defer the withholding deposit, and payment of Social Security taxes. Typically, employees and employers each

Update on PPP Loans

The Paycheck Protection Program Flexibility Act was signed into law on June 5, 2020. The act contains the following provisions that will change how PPP borrowers can maximize forgiveness of their loans. 1. Repayment Period Extension For new PPP loans, the repayment period has been extended from two years to five years from the date

Contracts in the time of Uncertainty

We are all faced with the unique challenge of financial uncertainty, due to the economic impact of Covid-19. While our leases, expenses, and contract obligations remain fixed, our ability to work, the ability of our customers or clients to pay, and future economic prospects are all beyond our control. There are solutions, but they require

COVID-19 Update: Estate Planning

The Covid-19 challenge has changed our perspectives and redirected our planning, in ways we could have never expected. The two most directly impacted areas, for individuals, are health care and the ability to manage day-to-day finances. Many of you have already executed a Georgia Advance Directive for Health Care (“Advance Directive”) and Statutory Form Power

PPP Loans for Self-Employed Individuals

We hope you are doing well and continue to stay safe during these times. This newsletter is to update you on the recent Interim Final Rules issued by the SBA on April 14, 2020 and additional guidance regarding the Paycheck Protection Program (“PPP”) on April 2, 2020 which by be applicable to you and your