April 28, 2020
The American Institute of CPAs (AICPA) has called for the Federal Reserve to create a federally backed, short-term accounts receivable lending facility that would allow companies to pledge future receivables and, in return, receive immediate cash flow.
April 28, 2020
The economic fallout resulting from the coronavirus will test the ability of companies to adapt to a business climate that is changing daily. Companies that are agile enough to adapt to new working paradigms, new ways of servicing clients and new ...
April 24, 2020
The final bill includes $320 billion to make new loans under the Paycheck Protection Program, which provides forgivable loans to small business that keep employees on the payroll for eight weeks. The measure includes $60 billion in EIDL.
April 23, 2020
Business travel and entertainment have come to a standstill. Many companies have switched almost entirely to working from home to enforce social distancing or comply with mandatory shelter-in-place mandates.
April 22, 2020
Covid-19 hit the labor market like a sledgehammer in March and April, driving mass layoffs in the U.S. to their highest point since World War II. 22 million Americans have lost their jobs during the outbreak, and 14% of the country’s workforce isn’t ...
April 22, 2020
In addition, 68% of survey respondents reported applying for a Paycheck Protection Program loan before funding for the $350 billion program to help small businesses weather the COVID-19 crisis ran dry last week.
April 21, 2020
The Senate passed $484 billion in new pandemic relief funds Tuesday to bolster a tapped-out small business aid program, pay for coronavirus testing and help hospitals deluged by sick patients.
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April 20, 2020
The new Coronavirus Aid, Relief, and Economic Security (CARES) Act provides some much-needed relief for businesses hindered by a cap on business interest deductions. Icing on the cake: The tax changes are retroactive to 2019.
April 20, 2020
In a continued effort to slow the spread of COVID-19, local and state governments have issued orders for nonessential businesses and establishments to close their doors. These orders, combined with the lack of consumers making their way into ...
April 20, 2020
With more than 30 million small businesses serving as the backbone of the American economy, it’s critical for owners to make financial viability a top priority so they can get back to business as usual. Everyone has been affected by the coronavirus ...
April 19, 2020
The MACPA has joined forces with the Maryland Chamber of Commerce, the Maryland Bankers Association, and a number of other business-centric organizations to urge congressional leaders to provide additional funding to the Small Business Administration’s...
April 17, 2020
The FFCRA covers the costs of this paid leave by providing small businesses with refundable tax credits. Certain self-employed individuals in similar circumstances are entitled to similar credits.