In this video, Steve Dotterer of H2R CPA discusses the valuation of Family Limited Partnerships (FLPs) for Federal estate and gift purposes. To determine the Fair Market Value (FMV), the three primary approaches that need to be taken into consideration are income, market, and asset approach – in conjunction with the composition of the assets … Read more
In this video, Alex Kindler of H2R CPA provides insight into how a business owner might hide business assets during a divorce. He also discusses ways that a business owner may try to devalue the worth of the business and when a spouse should consider hiring a forensic accountant to review the business’s books. 0:27 … Read more
The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to encourage employers to keep their workforces intact during the COVID-19 pandemic. Notice 2021-49 addresses various issues, particularly those related to the extension of the credit through 2021 by the American Rescue Plan Act (ARPA). The … Read more
The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less, which the SBA reports account for 93% of outstanding PPP loans. The guidance comes at a time when many … Read more
A critical deadline is approaching for many of the businesses that have received loans under the Paycheck Protection Program (PPP), which was created in March 2020 by the CARES Act. If these borrowers don’t take action before the deadline expires, their loans will become standard loans, and the borrowers could be responsible for repaying the … Read more
During a divorce, all assets should be considered so that they can be properly divided. H2R CPA Partner, Alex Kindler, CPA/ABV/ CFF/PFS, CVA, MBA, discusses some of the assets that can be overlooked during the divorce process. He also explores the strategies that some individuals may use to try to hide assets from their spouse. … Read more
President Biden has signed the PPP Extension Act of 2021. The new law extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021, to May 31, 2021, thus providing potential PPP borrowers additional time to submit their applications. The law doesn’t provide the PPP with any additional funding. However, $7.25 billion in … Read more
On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA). The $1.9 trillion law is intended to provide far-reaching relief from the economic and other repercussions of the ongoing COVID-19 pandemic. In addition to funding for testing, contact tracing, vaccinations, education, and state and local governments, the ARPA includes extensive … Read more
Congress has passed the latest legislation aimed at providing economic and other relief from the COVID-19 pandemic that has haunted the country for the last year. President Biden is expected to sign the 628-page American Rescue Plan Act (ARPA), which includes $1.9 trillion in funding for individuals, businesses, and state and local governments. The ARPA … Read more
The Biden administration has announced several reforms to the popular Paycheck Protection Program (PPP) to bring greater relief to the smallest and most vulnerable businesses. Among other things, the administration is imposing a two-week moratorium on loans to companies with 20 or more employees and focusing on smaller businesses. It’s also changing several program rules … Read more