The IRS has announced proposed regulations that clarify state and local income taxes imposed on and paid by partnerships and S corporations. Changes…
THE BOWMAN BLOG
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New Relief Available for NJ Small Businesses Impacted By COVID-19
by Bowman & Company LLP | Oct 26, 2020 | #COVID-19News, Construction, For-Profit Entities, Funeral Homes, Healthcare, Not-for-Profits, Professional Services
Learn how your business may be eligible for direct relief and PPE subsidies, made available to NJ small businesses through additional CARES Act funding.
Guidance Issued on Payroll Tax Deferral
by Bowman & Company LLP | Aug 31, 2020 | #COVID-19News, Construction, Federal Services, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
New notice from the IRS provides guidance for employers wishing to defer withholding and payment of certain payroll taxes for qualifying employee wages.
Beware of a 100% Personal Liability Penalty
by Bowman & Company LLP | Aug 4, 2020 | Construction, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
A “100% penalty” can be assessed against a responsible person when federal income tax and/or federal employment taxes are withheld from employee pay…
PPP Loans: What You Need to Know About the Latest Changes
by Bowman & Company LLP | Jul 27, 2020 | #COVID-19News, Construction, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
Legislative measures were enacted creating significant changes for small businesses wishing to participate in the Paycheck Protection Program (PPP).
New PPP Loan Forgiveness Applications Released
by Bowman & Company LLP | Jul 8, 2020 | #COVID-19News, Construction, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers…
Prepare for a Post-COVID-19 Business Sea Change
by Bowman & Company LLP | Jun 12, 2020 | #COVID-19News, Construction, For-Profit Entities, Government Entities
USMCA: New Trade Agreement Will Modernize NAFTA
How to Plan for a PPP Audit
by Bowman & Company LLP | Jun 8, 2020 | #COVID-19News, Construction, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
Here are some tips to position your small business or not-for-profit organization to receive the maximum allowable forgiveness, as well as to prepare for the subsequent government audit.
Reminder: Three New Tax Credits Are Available to Many Businesses Hit by COVID-19
by Bowman & Company LLP | Jun 5, 2020 | #COVID-19News, Construction, For-Profit Entities, Funeral Homes, Healthcare, Not-for-Profits
The IRS today reminds employers affected by COVID-19 about three important new credits available to them.
Understanding the Paycheck Protection Program
by Bowman & Company LLP | Apr 16, 2020 | #COVID-19News, Construction, For-Profit Entities, Healthcare, Not-for-Profits, Professional Services, Speaking Engagements
The Paycheck Protection Program provides businesses with 8 weeks worth of cash-flow through the use of federally guaranteed loans. Learn about eligibility, the application process, what to expect, the timeline of disbursement and repayment, and how to maximize the funds provided by the PPP.