Video: Valuation for Equitable Distribution
Steve Dotterer, JD / MBA, CVA, Senior Manager at H2R CPA, identifies some of the key issues associated with valuing a business for equitable distribution during the divorce process. View the video here.
Lynne Mercer
Erroneous IRS CP161 Notices – 2019 Form 1041 Tax Payments
by Gail A. Davis, CPA / CSEP If you submitted a 2019 Form 1041 tax payment to the IRS, you may end up receiving an IRS CP161 Notice indicating that you have unpaid taxes due. This is an erroneous computer-generated notice that several H2R CPA clients have received. We understand from multiple conversations with the … Read more
Accounting for Forgivable Loans Received Under the SBA Paycheck Protection Program
by Christopher L. Chonko Recent guidance provides multiple models for businesses and nonprofits (nongovernmental entities) to use when planning to account for a forgivable loan received under the Small Business Administration Paycheck Protection Program (PPP). A summary of the available options is provided below. Business Accounting Options FASB ASC 470 debt model Generally speaking, the … Read more
PPP Loan Forgiveness FAQs
Frequently Asked Questions as of August 4, 2020 “The Small Business Administration (SBA), in consultation with the Department of the Treasury, is providing this guidance to address borrower and lender questions concerning forgiveness of Paycheck Protection Program (PPP) loans…” Read More H2R CPA professionals are continuing to evaluate the latest guidance to help determine the … Read more
Video: Deferral of Payment for Social Security Tax
Lucas Rihely, CPA, Partner at H2R CPA, discusses the deferral of payment for employer Social Security tax. This deferral of payment was part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help businesses with cash flow during these challenging times. View the video here.
COVID-19 PA Hazard Pay Grant Program
by Jeff Wolstoncroft, CPA On Thursday, July 16, 2020, Governor Tom Wolf announced the availability of $50 million in grant funding to help employers provide hazard pay to employees in life-sustaining occupations during the COVID-19 pandemic. Applications will be received between July 16, 2020 and July 31, 2020. Complete details of the program and a … Read more
Video: The Changing Landscape of the Paycheck Protection Program
Kieran O’Dea, CPA, Partner at H2R CPA, discusses the complex application and forgiveness process for the Paycheck Protection Program, and what we know and have learned so far. View the video here.
Video: Paycheck Protection Program: Full-Time Equivalent
Jeff Wolstoncroft, CPA, Senior Manager at H2R CPA, provides insight in regard to the Paycheck Protection Program (PPP) Full-Time Equivalent. View video here.
IRS Guidance: Coronavirus-Related Distributions and RMD Rollovers
The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take so-called “coronavirus-related distributions” (CRDs) from IRAs, 401(k) plans and certain other retirement plans. Specifically, the CARES Act waives the 10% early distribution penalty for CRDs … Read more
Webinar Recording: Commercial Real Estate: The Domino Effect of COVID-19
This H2R CPA webinar was presented live on June 29, 2020. The webinar recording can be accessed here. A PDF of the webinar presentation can be accessed here. Webinar Summary Over the past few decades, telecommuting has slowly grown as technological advancements allowed for a better Work From Home (WFH) experience, but most corporate professionals continued … Read more