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If You’re Selling Your Home, Don’t Forget About Taxes
Traditionally, spring and summer are popular times for selling a home. Unfortunately, the COVID-19 crisis has resulted in a slowdown in sales. The National Association of Realtors (NAR) reports that existing home sales in April decreased year-over-year, 17.2% from a year ago. One bit of good news is that home prices are up. The median existing-home price in April was $286,800, up 7.4% from April 2019, according to the NAR.
SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program
U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.
Student Loan Interest: Can You Deduct It on Your Tax Return?
The Coronavirus Aid, Relief and Economic Security (CARES) Act contains some assistance to borrowers with federal student loans. Notably, federal loans were automatically placed in an administrative forbearance, which allows borrowers to temporarily stop making monthly payments. This payment suspension is scheduled to last until September 30, 2020.
Congress Passes Changes to Paycheck Protection Program
Last night the US Senate unanimously passed the House bill called the Paycheck Protection Flexibility Act and is expected to be signed by the President. The following are the changes to the Paycheck Protection Program (PPP)...
Overcoming the Challenges of Remote Auditing During the COVID-19 Crisis
Many people are currently working from home to help prevent the spread of COVID-19. In recent years, most audit firms have been investing in technology and training to facilitate remote audit procedures. But auditors haven’t faced a situation where everything might have to be done remotely — until now.
Independent Assurance Inspires Confidence in Sustainability Reports
Sustainability reports explain the impact of an organization’s activities on the economy, environment and society. During the novel coronavirus (COVID-19) pandemic, stakeholders continue to expect robust, transparent sustainability reports, with a stronger emphasis on the social and economic impacts of the company’s current operations than on environmental matters.
Do you have tax questions related to COVID-19? Here are some answers
The coronavirus (COVID-19) pandemic has affected many Americans’ finances. Here are some answers to questions you may have right now.
The CARES Act Liberalizes Net Operating Losses
The Coronavirus Aid, Relief, and Economic Security (CARES) Act eliminates some of the tax-revenue-generating provisions included in a previous tax law. Here’s a look at how the rules for claiming certain tax losses have been modified to provide businesses with relief from the novel coronavirus (COVID-19) crisis.
Donor Care During the COVID-19 Pandemic
One of the many challenges of operating a not-for-profit organization during the coronavirus (COVID-19) pandemic is that just when you desperately need financial support, many donors are unable to help. Widespread unemployment, stock market volatility and general uncertainty make even dependable donors reluctant to part with their money.
Indiana Business Personal Property Tax Return Extension
Indiana Governor Holcomb announced yesterday that the due dates for Indiana business personal property tax returns will be extended from May 15th to June 15th statewide. The full Executive Order is attached, and Item #1 addresses the PPT returns.
How COVID-19 Poses New Fraud Threats to Vulnerable Businesses
Scam artists know how anxious business owners are during the current coronavirus (COVID-19) crisis. The last thing your business needs right now is to suffer additional financial losses. So keep an eye out for the following scams:
Adjusting Your Financial Statements for COVID-19 Tax Relief Measures
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the novel coronavirus (COVID-19) crisis. Those provisions will also have an impact on financial reporting.

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