PPP Applications
SBA AND DEPARTMENT OF TREASURY ISSUE TWO NEW INTERIM FINAL RULES ON THE PAYCHECK PROTECTION PROGRAM 400 400 SAX - Advisory, Audit and Accounting

SBA AND DEPARTMENT OF TREASURY ISSUE TWO NEW INTERIM FINAL RULES ON THE PAYCHECK PROTECTION PROGRAM

On January 6, 2021, the Small Business Administration (SBA) and U.S. Department of Treasury issued two Interim Final Rules (IFRs) surrounding the Paycheck Protection Program (PPP).  The IFRs include the following Interim Final Rule #1: Business Loan Program Temporary Changes; Paycheck Protection Program Second Draw Loans: Implements the key provisions of the Second Draw PPP…

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Loans
SBA Extends EIDL Program to December 31, 2021 400 400 SAX - Advisory, Audit and Accounting

SBA Extends EIDL Program to December 31, 2021

On December 30, 2020, the Small Business Administration (SBA) extended the deadline to apply for Economic Injury Disaster Loans (EIDLs) from December 31, 2020 to December 31, 2021, pending the availability of funds.  Administered directly through the SBA, EIDLs provide qualified borrowers with economic relief through long-term 30-year financing with interest rates ranging from 2.75%…

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Webinar
WATCH THE WEBINAR: 2021 DENTAL MARKET WATCH 400 400 SAX - Advisory, Audit and Accounting

WATCH THE WEBINAR: 2021 DENTAL MARKET WATCH

In case you missed it, we invite you to watch our webinar discussion that focused on the 2021 Dental Market.  Our expert speakers provided insights on emerging trends in Dental Service Organizations (DSOs), market trends in dental practice mergers and acquisitions, HHS CARES Act Provider Relief Fund reporting requirements and PPP loan forgiveness. Panelists included…

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SBA Issues FAQ surrounding PPP Loan Necessity Questionnaires 150 150 SAX - Advisory, Audit and Accounting

SBA Issues FAQ surrounding PPP Loan Necessity Questionnaires

Earlier in 2020, the Small Business Administration (SBA) released loan necessity questionnaires for public comment for both For-Profit Borrowers (Form 3509) and Not-For-Profit Borrowers (Form 3510) with loans of $2 million or more.  The public comment period ended November 25, 2020, but we have yet to see if the SBA will revise the content based…

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IRS
IRS Issues Guidance on Timing of Tax Deductions for PPP Expenses 400 400 SAX - Advisory, Audit and Accounting

IRS Issues Guidance on Timing of Tax Deductions for PPP Expenses

While not the news borrowers were hoping for, on November 18, 2020, the Internal Revenue Service issued Rev. Rul. 2020-27 and Rev. Proc. 2020-51 to provide clarity in situations where the receipt of Paycheck Protection Program (PPP) loan proceeds and the SBA decision on PPP loan forgiveness occur in different years.  Both forms of the…

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COVID-19 Relief
Governor Murphy Announces Additional $60M in COVID-19 Relief for Businesses 400 400 SAX - Advisory, Audit and Accounting

Governor Murphy Announces Additional $60M in COVID-19 Relief for Businesses

On Tuesday, October 13, New Jersey Governor Phil Murphy made $100 million in relief available from the state’s $2.3 billion in CARES Act funding for businesses hit hard by the COVID-19 pandemic.  $70 million went to Phase 3 of the New Jersey Economic Development Authority’s (NJEDA) Small Business Emergency Assistance Grant Program which included $35…

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Healthcare
Breaking Pandemic News – Insights from the Frontlines 400 400 SAX - Advisory, Audit and Accounting

Breaking Pandemic News – Insights from the Frontlines

With breaking news unfolding on the second wave of the pandemic and vaccines in the works, we invite you to watch Sax’s very timely webinar with our esteemed speakers, Kevin Slavin, President & Chief Executive Officer and Dr. Joseph Duffy, Chief Medical Officer from St. Joseph’s Health. Our featured guests shared an overview of the…

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November CFO Focus: Year-End Tax Update: Strengthening Your Tax Position & Overall Business Now and For 2021 150 150 SAX - Advisory, Audit and Accounting

November CFO Focus: Year-End Tax Update: Strengthening Your Tax Position & Overall Business Now and For 2021

                                WEDNESDAY, NOVEMBER 18 | 10:00 – 11:30 AM

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SAX - Advisory, Audit and Accounting