Top 7 reasons companies Outsource Accounting and Back-office functions

By Jennifer Eubanks   1. Competent financial management, reporting, and guidance.  Businesses need to have competent financial management, reporting, and guidance so the management team can focus on operations.   2. Businesses need the right people. Some 70 percent of KPMG survey respondents said they are outsourcing accounting to get access to better talent. This helps clients focus on their business instead…

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

start a business in the united states

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…

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

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…

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Interest on all student loans held by the Federal Government Waived due to COVID-19

Contact your loan servicer online or by phone to determine if your loans are eligible. Your servicer is the entity to which you make your monthly payment. If you do not know who your servicer is or how to contact them, visit StudentAid.gov/login or call 1-800-4-FED-AID. See link below for more information from studentaid.gov, including Q&A. https://studentaid.gov/announcements-events/coronavirus

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Comprehensive List of Private and Public Loans, Grants, and Financial Support for Small Businesses

In light of the global COVID-19 pandemic, federal, state, and local governments, along with private entities, are mobilizing to provide economic relief as businesses and workers enter a period of uncertainty. Gusto compiled  a comprehensive list of public and private loans, grants, and financial support programs aimed at small businesses: https://docs.google.com/spreadsheets/d/1SRBZE2_6Nftwd02M6Oxj8MoeuZ7y93spXIgIPhkkp2w/htmlview#gid=0

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Business Tax provisions

Employers are eligible for a 50 percent refundable payroll tax credit on wages paid up to $10,000 during the crisis. It would be available to employers whose businesses were disrupted due to virus-related shutdowns and firms experiencing a decrease in gross receipts of 50 percent or more when compared to the same quarter last year. The credit…

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