Murky Waters for Government Contractors Receiving PPP Funds

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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).

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CARES Act – Tax Savings and Business Opportunities

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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…

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

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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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