1099 Reporting Change for 2020
ALERT: For those using QB, the recent maintenance update for QB includes the changes necessary to process the 1099-NEC Forms. …
Executive Order Delaying Payments of Employee Social Security Taxes
On August 8, 2020, President Donald Trump issued a presidential memorandum allowing employees to defer the social security portion of…
Additional PPP Forgiveness Guidance Released
On August 11th the SBA released additional Frequently Asked Questions specifically related to the expenses eligible for PPP loan forgiveness. …
New Regional Sales and Use Tax in Central Virginia Region
Effective Oct.1, 2020, a new 0.7% regional retail sales and use tax will be levied in localities in Central Virginia….
Employees Working at Home? Rethink Your Space Needs
For some employees, working from home is a personally liberating experience that contributes to greater productivity. For others, not so…
Monitor These 3 Things as Your Nonprofit’s Priorities Change
Several months into the COVID-19 crisis, most not-for-profit organizations have formulated at least a temporary plan for sustaining operations. But…
ERISA Notices During the COVID-19 Crisis
Here’s a question about the timing of ERISA Group Health Plan communication during the pandemic. Q: We understand that the…
401(k) Plan Amendments Due to COVID-19
Here’s a question from a company about waiving the required minimum distribution (RMD) requirement for their 401(k) plan participants. Q….
PPP Loan Forgiveness - Why Wait?
We know many of our clients are anxious to apply for loan forgiveness and rightfully so. You know you have…
Payroll Protection Program Loan Update (July 1)
Congress and the President have acted to extend the Payroll Protection Program (PPP) for an additional 5 weeks, with new…