X
X

Find Your Specialist

X

Contact Us

    COVID-19

    SBA Sets Up Second Draw PPP Loan Program

    January 11, 2021

    The Small Business Administration (SBA) has launched the next phase of the PPP loan program, with second draw loans available for existing recipients and more money for first-time borrowers. Guidance on the expanded program was released just over two weeks... Read More

    IRS Says No Negative Tax Effects from PPP Loan Forgiveness

    January 11, 2021

    The tax section of the new stimulus Act, the Tax Relief Act of 2020, cleared up a very important question about PPP loans. Normal business deductions, such as payroll, mortgage interest, rent and utilities, are deductible even if they are... Read More

    PPP Updates Trigger Concern Over Loan Necessity Questionnaires

    December 22, 2020

    More guidance has been released for employers that received Paycheck Protection Program (PPP) loans relating to the Small Business Administration (SBA) “loan necessity” questionnaires. The loan necessity questionnaire is being criticized as going beyond the original requirements of the PPP... Read More

    taxpayers

    Final 2020 COVID Relief Bill Allows Deductions, More PPP Loans

    December 22, 2020

    Congress has resolved one of the most problematic tax provisions resulting from the IRS’s interpretation of the CAREs Act Paycheck Protection Program (PPP)—the disallowance of tax deductions for expenses paid with forgiven PPP funds. Those deductions have been reinstated by... Read More

    Paycheck Protection Program: Frequently Asked Questions

    November 19, 2020

    Updated November 19, 2020 Find Your Question When does the measurement period for PPP expenditures begin? How long is the loan forgiveness period? How much of my PPP loan can be forgiven? What else can PPP funds be used for... Read More

    PPP Uncertainties Make Planning a Challenge, Though New Guidance Helps

    October 26, 2020

    For many CPAs, the Paycheck Protection Program (PPP) program has perhaps been the biggest challenge of the year. With $552 billion going to 5.2 million borrowers, the program has affected businesses across the country. Accountants have largely been tasked with... Read More

    New PPP Guidance Sets Percentage of Ownership That Won’t Limit Loan Forgiveness

    October 1, 2020

    Yet another set of PPP rules has been issued by the Small Business Administration (SBA). This time establishing a nominal ownership percentage that won’t be subject to a loan forgiveness limit and on nonpayroll costs eligible for forgiveness. The clarification... Read More

    Adapting the Internal Audit Function in the Era of COVID-19

    July 21, 2020

    In late-May and early-June 2020, Frazier & Deeter conducted a survey of internal audit professionals across the United States. The goal of the survey was to develop a snapshot of the current state of the internal audit function during a time... Read More

    Latest PPP Rules Cover Loan Maturity, Loan Forgiveness Amounts and FTE Exemptions

    July 9, 2020

    The Treasury Department and the SBA have released new interim final rules, a new how-to FAQ and other revised FAQs to further explain how the PPP loan rules work. The clarifications relating to loan maturity, calculation of loan forgiveness amounts... Read More

    travel

    Relief for U.S. Business Travelers in Foreign Countries Due to COVID-19 Restrictions

    June 25, 2020

    The IRS has provided relief to U.S. persons who had to conduct business in a foreign country because they could not travel home due to “travel disruptions.” In Rev. Proc. 2020-30, the IRS clarifies the issue of whether extended business... Read More

    Privacy Overview

    When you use or access the Site, we use cookies, device identifiers, and similar technologies such as pixels, web beacons, and local storage to collect information about how you use the Site. We process the information collected through such technologies, which may include Personal Information, to help operate certain features of the Site (e.g., to prevent online poll participants from voting more than once), to enhance your experience through personalization, and to help us better understand the features of the Site that you and other users are most interested in.

    You can enable or disable our use of cookies per category.
    Always Enabled

    Essential cookies enable you to navigate our Site and use certain features, such as accessing secure areas of our Site and using other features of our service that require us to keep track of certain information as you navigate from page to page. Although some of these cookies are “required” to enable certain functionality, you can disable them in the browser, but doing so will limit your ability to use the features supported by such cookies.

    Functionality cookies are cookies that support features of the Site, such as remembering your preferences.

    These cookies collect information about how you use our Site, including which pages you go to most often and if they receive error messages from certain pages. These cookies are only used to improve how our Site functions and performs.

    From time-to-time, we may engage third parties that track individuals who visit our Site. These third parties may track your use of the Site for purposes of providing us with certain marketing automation features (to help us improve our outreach to current and prospective clients) and providing you with targeted advertisements.