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COVID II Bill PPP and other related key business provisions

December 29, 2020 Authored by Joseph W. Boucher President Trump signed this bill Sunday December 27. The article by the Journal of Accountancy is an excellent summary. https://www.journalofaccountancy.com/news/2020/dec/covid-19-relief-bill-addresses-key-ppp-issues.html Some Key highlights: The PPP program has more funding.  Expands which businesses qualify to include other tax exempts such as destination marketing organizations.   For business not […]

Brewing Tax Battle: Deductibility of Business Expenses Financed by Paycheck Protection Program Loans

Author:  Attorney Daniel Glinert An ongoing tax controversy has left unanswered questions in the minds of U.S. business owners. The stakes are incredibly high. As of June 30, 2020, the federal government’s Paycheck Protection Program (PPP) has allowed over 521 billion dollars of PPP loans to be issued to over 4.8 million businesses. The federal […]

WISCONSIN ISSUES MASK MANDATE

Authored by Attorney John Rather Starting Saturday August 1st, all Wisconsin residents will be required to wear a mask or other face covering while indoors outside their home. On Thursday July 30th, Wisconsin Governor Tony Evers issued Executive Order # 82, which re-declared a public health emergency, and Emergency Order #1, which requires all individuals […]

Coronavirus-Related Financial Resources:    Main Street Lending Program

By Joseph A. Camilli The Coronavirus (“COVID-19”) pandemic has generated numerous federal, state, and local efforts to get financial resources into the hands of businesses and individuals in order to stave off financial ruin.  On July 6, 2020, the federal government, through the Treasury Department, implemented the Main Street Lending Program (the “MSLP”). The MSLP […]

Dane County Businesses:    Do You Have the Required COVID-19 Policies?

Author: Attorney John Rather The COVID-19 pandemic continues to have a severe impact on public health and small businesses. In Wisconsin, restrictions on activities and operations have largely been left to individual counties in light of the Wisconsin Supreme Court’s May decision overturning a previous statewide Safer at Home order. Dane County has issued a […]

PPP Application Deadline to be Extended

Author: Attorney John Rather There is still time for qualifying small businesses to apply for forgivable loans under the Paycheck Protection Program (“PPP”). The original deadline to apply for a PPP loan was June 30th. Just hours before the deadline, the U.S. Senate unanimously voted to extend that deadline until August 8th and the House […]

Insurance Coverage and COVID-19

Authors: Attorneys John Rather and Eric Klemm     Businesses big and small are feeling the financial impact of COVID-19 and government orders that required them to cease or severely curtail their business operations.  Some business owners may be asking “what about all those insurance policies I’ve been paying premiums on for years? Shouldn’t they […]