AHP Articles - Andrews Hooper Pavlik PLC

Created: Monday, March 30, 2020

Federal Loan Programs and Tax Incentives for Small Businesses Impacted by COVID-19

Assistance to small businesses impacted by the COVID-19 pandemic was specifically addressed in the recently signed CARES Act via federal loan programs and tax incentives. Included in this article is a summary of the loan provisions put into place by the CARES Act.

Created: Monday, March 30, 2020

CARES Act Provides Relief for Individuals and Businesses Negatively Impacted by COVID-19

President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law on Friday, March 27, 2020. The purpose of the CARES Act is to provide relief for individuals and businesses who have been negatively impacted by the COVID-19 pandemic.

Created: Thursday, March 26, 2020

Considerations for When Your Business Must Lay Off Employees

Some businesses may find the need to lay off workers due to the Governor’s stay at home order. The Unemployment Agency has suggested that employers place employees on temporary unpaid leave as opposed to termination.

Created: Wednesday, March 25, 2020

Families First Coronavirus Response Act

The IRS and US Department of Labor have announced refundable payroll tax credits that will provide dollar-for-dollar reimbursement for small and midsized employers (employers with fewer than 500 employees) providing paid leave for employees affected by COVID-19 between the effective date of April 1, 2020 and December 31, 2020.

Created: Tuesday, March 24, 2020

How to Manage COVID-19-Related Business Risks

The coronavirus (COVID-19) outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to the virus, business owners and managers face an uncertain and stressful future.

Created: Monday, March 23, 2020

Federal and State Tax Filing Deadlines Moved to July 15

On Friday, March 20th, Treasury Secretary Steven Mnuchin announced that the federal tax filing deadline would be moved from April 15th to July 15th.

Created: Tuesday, March 3, 2020

Is Your Family Medical Leave Policy Up-to-Date?

The Administrator of the Department of Labor's Wage and Hour Division (WHD) periodically responds to new Family Medical leave Act (FMLA) compliance questions from employers and employees. Notable ones are posted for the benefit of people facing similar situations. This article contains a sampling. A recent case deals with whether an employee's time away from work to attend regular meetings at her children's school qualifies as FMLA-sanctioned leave. The meetings were with school officials to discuss the special needs of the children and appropriate ""individualized education plans.

Created: Sunday, March 1, 2020

The Deductible Mileage Rate for Business Driving Decrease for 2020

The IRS has announced the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Created: Monday, February 10, 2020

Recent Developments in GASB 84: Fiduciary Activities

Many governments have had recent questions and concerns about the impact GASB 84 would have on reporting defined contributions plans in government/fiduciary statements.

Created: Wednesday, February 5, 2020

10 Tax Elections to Save Money on Your 2019 Return

2020 is a presidential election year. You'll have an opportunity to cast a vote for your favored presidential candidate in November, but you can make several other key "elections" this year when filing your 2019 tax return. These elections may be influenced by the Tax Cuts and Jobs Act (TCJA), as well as the year-end spending package that was signed late last year.