There is talk right now that Congress might enact automatic forgiveness for all PPP loans under $150K. This would be a sigh of relief for Hampton Roads small businesses (and their accountants!) everywhere. Nothing has been passed, but it’s under strong consideration. And, in case you didn’t know, the PPP program is STILL available —…
This might not apply to you. So it could just be something to file away for the future. But I’m hearing enough rumblings from other accountants and seeing some of the signs … SMB owners could be in for a tough ride over the next little while and that could mean any Hampton Roads business…
Well, it doesn’t look as if the minimum wage increase is happening. But all kinds of other interesting nuggets are inside the Senate version of the third stimulus package, the “American Rescue Plan” (i.e. the Biden stimulus). Now, portions of unemployment are NOT taxable (when previously they had been); the actual stimulus payments have a…
The past year and a half has been stressful for everybody in Hampton Roads . And I would argue it’s been doubly so for Hampton Roads business owners. The thing is though, these things happen. Quite regularly. Maybe not global pandemics, but disasters in general. So, as the person in your corner who might be…
Are you tired of talking and thinking about the PPP? Because I’m tired of talking and thinking about the PPP. That said — this program has been a lifesaver for a variety of my Hampton Roads clients, and it has provided a great shot in the arm for others. And, well … we finally have definitive…
Prepare, prepare, prepare. As a recession is bearing down on us all, figuring out how to prepare for economic downturns is something you should be concerned with in your Hampton Roads business. I know I am. Now, while you and I can’t prepare for every eventuality, we can put systems and plans in place that…
I wanted you to know about something that came across my desk the other day because it is potentially very good news… Not many are talking about this, but there have been some MAJOR new Economic Injury Disaster Loan (EIDL) program updates from the SBA… New $2 million maximum loan size (This is WAY higher than…
“It was the best of times. It was the worst of times.” I think we can agree that Charles Dickens’s famous lines ring true when looking back at 2020 and 2021 (though “best” might seem like a stretch). With employees shifting their worlds to make room for new priorities, disruptions to supply chains, new government…
With all the floods, fires, hurricanes, and other events that happened in 2019, it turned out to have been a very expensive year for natural disasters. Then…2020 rolled in and said, “Wait until you see what I’ve got!” For decades, a little-known federal loan program administered by the Small Business Administration (SBA) provided short-term working…
With the way that the economy is going, inflation, the market gyrations, etc … ANY business seems like good business. Until it isn’t. Consider … Have you ever been in a Hampton Roads store when a customer starts yelling at the employee behind the counter for something tiny? The customer makes demands and throws an…