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Learn MoreYour organization may have received a loan under the Paycheck Protection Program (PPP). Now that you have begun expending those funds, you may be wondering the appropriate way to account for them. Unlike for-profit entities currently, not-for-profit accounting already has clear guidance in place on...
Read MoreTwo recent regulatory changes — Private Funds Law 2020 and Mutual Funds (Amendment) Law 2020 — will require previously exempt Cayman Islands funds to now register with the Cayman Islands Monetary Authority (CIMA). While the changes will require affected funds to expend more time, cost and resources...
Read MoreProfits interest awards are a flexible type of equity compensation used by limited liability companies (LLCs) and partnerships to incentivize exceptional performance. The Private Company Council (PCC) plans to meet in the coming months to discuss ways to simplify the accounting rules that apply to...
Read MoreIn this installment of our “Business Intel” series — helping you monitor, understand and maximize your organization’s liquidity and cash management processes — we provide insights on how to make your debt instruments work for you. As we continue to face disruption while making our way through...
Read MoreThe SBA and Treasury released late Friday evening the long-awaited application to apply for forgiveness of a Paycheck Protection Program (PPP) loan. They also announced they will soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide...
Read MoreThe past nine weeks have been a challenge for all Ohioans as we navigate unchartered waters. However, our Ohio legislators have not let countless obstacles deter them from identifying means to support businesses and employees. Ohio is presently drafting legislation (SB 308) to provide civil...
Read MoreAs we all look to navigate the “new normal” brought about by COVID-19, it’s clear that figuring out the complexities of working during a pandemic will continue for the foreseeable future. Though we’re adjusting in real time, the degree of disruption, coupled by a mostly remote workforce, has...
Read MoreJoining states such as Connecticut, Louisiana, New Jersey, Oklahoma and Wisconsin, Maryland has enacted an elective pass-through entity tax to circumvent the $10,000 cap for the federal state and local tax deductions. While the IRS rendered other state and local tax workarounds ineffective, such as...
Read MoreOn May 13, 2020, the SBA and Treasury issued Interim Final Rule on Loan Increases, allowing partnerships and seasonal businesses to potentially qualify for higher loan amounts from the Paycheck Protection Program (PPP) — even if they have already received a disbursement. Prior to the Interim...
Read MoreOn May 13, 2020, the SBA and Treasury announced a piece of much-awaited guidance related to the Paycheck Protection Program (PPP). FAQ #46 offers relief regarding the certification all PPP loan borrowers must make: “that the current economic uncertainty makes this loan request necessary to support...
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