The IRS recently issued a revenue ruling to clarify an issue that was not addressed in Payment Protection Program (“PPP”) legislation: whether PPP loans used for expenses that are eventually forgiven can be tax deductible. It seems Congressional intent was to allow for deductions of usual business expenses, even if PPP loans were used to pay for those expenses, as Congress passed PPP loan legislation through the CARES and HEROES Acts to boost small businesses…
Obviously for many of us, 2020 is a year that we’ll be happy to put behind us.  Reduced consumer spending, bottlenecks in supply chains, phased reopening rules, and a thousand other factors have caused businesses to either shutter, or drastically hunker down.  But certain other businesses have thrived during the pandemic, either because their business models were naturally boosted by millions of people being required to stay home, or because they were able to pivot…
Returning To “Normal” Amidst A Global Pandemic With the uncertainty of COVID-19 and the possibility for another nationwide shutdown, businesses and employees alike are not sure how to plan for the fall. Will businesses need to return to remote work again? Will employees with children have to configure home schooling into their workday? How will businesses fare with another potential pause of the economy?…
PODCAST OVERVIEW Host Jeana Goosmann and guest Van Deeb, motivational speaker, author, and success coach, from Omaha, Nebraska, talk about the underdog mindset, entrepreneurial hustle, and surrounding yourself with like minded people. Jeana and Van talk about sticking to the fundamentals of your career and always having the drive, desire, and determination to succeed and never take things for granted. In this episode you will learn: …
Involuntary bankruptcy is a legal proceeding through which creditors request that a person or business go into bankruptcy, rather than doing so on the person’s or business’ own accord. Creditors seeking involuntary bankruptcy must petition the court to initiate the proceedings, and the indebted party can file an objection to force a case.…
PODCAST OVERVIEW Host Jeana Goosmann and guest Lynette Meyer, CPA at Nichols Rise & Company, talk about how business owners have been impacted during COVID-19 and how their CPA can help. Jeana and Lynette talk about various tax credits, loan forgiveness, the CARES Act, and other ways businesses can continue to operate during COVID-19 and post quarantine. During this episode you will learn:…