Business Support during Covid-19 outbreak.

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start a business in the united states

5 Steps to Setting Up a US Company for Non-US Resident

By Jennifer Eubanks | July 13, 2020

As a foreign business looking to establish an international footprint, there are numerous advantages if you start a business in the United States. Taxes tend to be lower than in many parts of the world, access to selling into the U.S. market is easier when a business is established within the country, and the legal…

How COVID 19 Changed the Financial Operations of Non-Profit Organizations

By Jennifer Eubanks | July 13, 2020

As COVID 19 changes the economic landscape in the United States, many non-profit organizations are experiencing dramatic changes in their operations, financial security and future plans.  At the same time, these organizations see a greater need for their services, both in the near term and throughout recovery. As events are cancelled, including fundraisers, annual meetings,…

CPA Department’s Jennifer Eubanks attending Capitol Hill Week to Promote PPP Legislation on June 11

By Jennifer Eubanks | May 28, 2020

We’re excited to have a direct line of communication with the Members of Congress that represent us. Now more than ever, our small business voices need to be heard!

Tax Implications of Coronavirus Relief

By Jennifer Eubanks | May 24, 2020

A number of tax implications evolve as a result of relief provided by the Coronavirus Aid, Relief and Economic Security (CARES) Act, and the Families First Coronavirus Response Act (FFCRA). We’ve created a summary of information as it has evolved to date.

Murky Waters for Government Contractors Receiving PPP Funds

By Jennifer Eubanks | May 3, 2020

Government contractors, constantly vigilant and monitoring compliance with Federal Acquisition Regulations are faced with unprecedented uncertainty and questions surrounding acceptance of Paycheck Protection Program (PPP) funds and payments under Section 3610 of the CARES Act. Contractors must consider a) the ban against ‘double dipping’ of funds and b) must also consider that loan forgiveness under the PPP may be interpreted as a credit due back to the government in accordance with FAR 31.201-1 (a).

Small Businesses Suffer with SBA Out of Funds

By cpadepartment | April 19, 2020

On Thursday April 16th, just 14 days after small businesses across America were first able to apply for loans through the $349 billion Paycheck Protection Program, the U.S. Small Business Administration announced it had exhausted its allotted funds and stopped accepting applications. Ironically, Capital One and Wells Fargo opened their application portals within the last two days…

SBA Issues New Interim Rule – Temporary Changes Impacting Self-Employed and Partnership Access to PPP Loans

By cpadepartment | April 15, 2020

We’ve received many questions from individuals with self-employment income filing on Form 1040 with a Schedule C. The repeated question is whether these individuals are eligible for a PPP loan, and if so, how to determine the maximum loan amount. The new interim rule answers this question. If you have no employees, the following methodology…

CARES Act – Tax Savings and Business Opportunities

By cpadepartment | April 10, 2020

Small Businesses may be able to take advantage of a number of tax savings and cost deferral opportunities presented by the CARES Act. Read on to learn about a few of the provisions and potential savings. Deferral of employer Social Security tax You can generally defer the employer share of the 6.2% Social Security tax…

IRS Extends More Tax Deadlines

By cpadepartment | April 10, 2020

The IRS announced today that all taxpayers having a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020 will receive an extension to July 15, 2020. This includes payments for estimated taxes, normally due 6/15/2020. This means that any individual or corporation that has a quarterly estimated tax…

Capital One still not accepting applications for the Paycheck Protection Program

By cpadepartment | April 10, 2020

While most banks have successfully rolled out online portals to accept Payroll Protection Program applications, Capital One remains closed for applications. Businesses who bank with Capital One are looking for other options. Below is a link to a list of banks taking applications from new customers, compiled by Forbes Magazine. https://www.forbes.com/sites/brianthompson1/2020/04/09/banks-and-fintech-companies-accepting-paycheck-protection-program-loan-applications-from-new-and-non-bank-customers/#599f3af8b950 We understand Gusto is…

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