By: Eric Evans Entrepreneurs and early investors are faced with many business decisions and challenges. An overarching challenge is to scale a business using what is often limited debt and equity financing, prior to being cashflow positive. The business’ U.S. tax structure can dramatically impact cashflow as well. For example, the U.S. corporate income tax…
Salt Lake City, Utah – WSRP CPAs and Advisors is pleased to announce that effective January 1, 2023, Dan Rinehart, CPA has been appointed the firm’s new Managing Partner. He has been an Assurance Partner in the firm for over 13 years and has over 20 years of public accounting experience. “It’s an honor to…
Shifting Tax Regulations in the U.S. & Abroad While there is incredible uncertainty as we move through 2022, there are a couple of major events tax teams should be tracking, as their outcomes could make a big difference for the 2022 tax landscape and well beyond. Businesses will need to keep up with a dancing…
Download PDF Presentation Create Cash with Employee Retention Credits & the New PPP You can get Employee Retention Credits (ERC) whether you took out a PPP loan or not. We will demonstrate the actual values experienced by some of our clients. There is a great deal of confusion on the ERC because initially with PPP…
American Rescue Plan Act of 2021 President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law on Thursday afternoon. This $1.9 trillion stimulus package contains additional funding and expansion of tax credits to qualifying small businesses, assistance to various industries that were impacted by the COVID-19 pandemic, namely restaurants, direct stimulus payments…
PPP and the Employee Retention Credit (ERC)New legislation from the Consolidated Appropriations Act, 2021 creates a chance for some companies to take advantage of both Paycheck Protection Program (PPP) loans and the Employee Retention Credit (ERC). Several changes specific to the ERC can provide an opportunity for additional relief for companies. The significant changes that…
PPP1 is winding down but for some there are still considerations. Since the tax liability on the PPP loan has been eliminated, but the expenses used to offset the PPP1 funding can be deductible, this could create a Net Operating Loss. The CARES Act included a Net Operating Loss Carryback feature. In short, if your…
The application window for Paycheck Protection Program (PPP) forgivable loans will open Friday for lenders with $1 billion or less in assets, the US Small Business Administration and Treasury announced. The opening, which will take place at 9 a.m. ET and applies for both first- and second-draw PPP loans. The program will begin accepting applications…
The recently enacted Consolidated Appropriations Act, 2021 contains a wide range of tax, appropriations, and other provisions, including pandemic-specific provisions and extensions of provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Although the following is quite long, we believe it provides an excellent summary of some of the key tax provisions of the…
