Ultimate Account Blog

IRS Provides Important Information Regarding PPP Loans

The subject of taxability of Paycheck Protection Program (PPP) loan forgiveness has been a common theme of many of our past PPP communications with you. Some information, such as the fact that the eligible expenses that lead to forgiveness are not deductible, has not changed, and will not change…

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PPP Update – Important Information for Loans over $2 Million

It has been more than 7 months since the CARES Act, which housed the PPP Loan provisions, was signed into law. We have learned a lot over the last 7 months and continue to learn more as information becomes available. The information below is applicable for recipients of PPP…

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2020 Year-End Tax Planning for Individuals

A discussion about 2020 year-end tax planning likely should involve a discussion about the U.S. presidential election. To date, neither candidate has released a formal plan regarding the tax code. Taxpayers can still make informed decisions by taking into consideration what the candidates have said about tax policy on…

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QuickBooks® Online and QuickBooks® Desktop Webinar

Yesterday our ProAdvisors, Andrea Reynolds and Barb Morrow, hosted a virtual training on QuickBooks® Online and QuickBooks® Desktop. The webinar included topics such as: QuickBooks Desktop vs Online, new features for 2021, QuickBooks on a cloud platform, 3rd party apps and tips and tricks. For a recording of this presentation,…

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Employee SS Payroll Tax Deferral Guidelines

In early August the President used his Executive Powers to provide for a deferral of employee social security taxes beginning today, September 1. On Friday, August 28th, the Treasury released the much anticipated guidelines to accompany the Executive order. The guidelines did provide additional details but also left some…

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PPP Forgiveness: Planning for Financial Statement and Tax Return Impacts

For many of you, the time has come or is quickly approaching for you to consider starting the PPP Loan Forgiveness Application process. Due to the amount of complexity and the importance of preparing your application accurately, we are prepared to support you in the forgiveness application process. Ways Walz…

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PPP Forgiveness Update and Proposed Legislation

It has been close to a month since we have sent out substantive information to you relating to the PPP Loan program. While very little has come out relating to PPP loans and PPP loan forgiveness over that time, we did want to bring you up to speed on…

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Paycheck Protection Program Flexibility Act of 2020 Vlog

Walz Group CPA Principal Daniel T. Massey, CPA and Manager Benjamin J. Ritenour, CPA provide an update on the recently passed Paycheck Protection Program Flexibility Act, clarifications from interim final rulings, and the new loan forgiveness application and related instructions. Topics covered include: Paycheck Protection Program Flexibility Act of 2020…

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RECAP ON PPP LOAN FORGIVENESS APPLICATION AND PROCESS

On Wednesday, May 20, Walz Group hosted a complimentary webinar focusing on PPP Loan Forgiveness Application & Process. For a recording of this presentation, please visit our YouTube channel here: www.youtube.com/WalzGroup For slides: Observations from the Application For any follow-up questions, please refer to the last bit of the presentation…

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PPP Loans: Three Keys Areas

Principal, Dan Massey, CPA, and Manager, Ben Ritenour, CPA, are back with another video to review 3 key areas of the PPP Loans. Topics include: Taxability of PPP Forgiveness Scrutiny of PPP Loans Forgiveness for Employees Who Reject Re-employment Visit our YouTube channel for additional information on PPP Loans:…

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