In consideration of the current health crisis we want to inform you, our clients, and the general public, of the preventative steps we are taking to address the fears that you may have surrounding COVID-19 and our ability to service our clients. OUR OFFICE IS OPEN TO VISITORS - MASKS REQUIRED.
Please be assured we are and will remain a fully functioning CPA firm and are available to you in a number of ways to assist you, our clients, in a professional manner during this uncertain time.
We want to be advocates for community health and are taking this situation seriously. We have implemented the following precautions:
|We are working in the office and remotely. Please make sure the person you are trying to reach is in the office before stopping by.||We encourage you to use our virtual resources|
|All clients are encouraged to send information through the client portal||If you need assistance with the portal, please email firstname.lastname@example.org|
|We are offering In-person and online client meetings||All clients with scheduled meetings will receive a communication from us directly|
|All onsite consulting has the opportunity to be performed remotely via various technology subscriptions|
|We are monitoring communications from the various federal and state agencies regarding changes to the tax filing deadlines||Please refer to the News Updates below|
- COVID-19 RELIEF BILL & PPP LOAN FORGIVENESS - 12/22/2020 - Journal of Accountancy: The Consolidated Appropriations Act, 2021, also ensures tax deductibility for business expenses paid with forgiven Paycheck Protection Program (PPP) loans, provides fresh PPP funding, makes Sec. 501(c)(6) not-for-profit organizations eligible for loans for the first time, and offers businesses facing severe revenue reductions the opportunity to apply for a second loan.
- PPP LOAN FORGIVENESS UPDATE - 6/5/2020 - Congress.gov:The Senate and House have passed updates to the Paycheck Protection Program which amend the requirements to use PPP funds for forgiveness of debt.
- IS YOUR INDUSTRY ESSENTIAL? - 3/26/2020 - MN Dept of Employment & Economic Development (DEED): The Governor's address has left many of us wondering whether our business should still be operating. Governor Walz issued Executive Order 20-20 which mandates a two week Stay at Home order that starts Friday night at 11:59 pm. The list of industries included in EO20-20 indicates which types of work are critical. It is important to note, that even if your industry is listed as "Critical" (Essential), working virtually is still mandated, if your organization has the capability to do so.
NEWS UPDATE - 3/25/2020 - COVID-19 Update and SBA Economic Injury Disaster Loans
- APPLY FOR STATE UNEMPLOYMENT BENEFITS - www.uimn.org: Many individuals will need to apply for unemployment benefits during these uncertain times. It is important to remember that unemployment benefits are still taxable income, and withholding federal and state income taxes now, will prevent a surprise tax bill when filing your 2020 tax return. Be sure to apply for benefits from a desktop computer for a more reliable interface.
- APPLY FOR A SMALL BUSINESS LOAN - SBA's Economic Injury Disaster Loan Webpage: Loans available for small businesses up to $2 million to cover fixed cost payments like payroll and rent.
- COVID-19 DEADLINE & PAYMENT CHANGES - 3/20/2020 - Federal, Minnesota, Wisconsin, North Dakota and Iowa have postponed income tax filing deadlines to July 15 or later. The AICPA has compilied a full list that is being updated periodically.
NEWS UPDATE - 3/23/2020 - Treasury and IRS Issue Guidance on Deferring Tax Payments
NEWS UPDATE - 3/18/2020 - COVID-19 Tax Return and Relief Implications