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RAPID CHANGES AHEAD

I plan to use more electronic communications to keep my clients and the friends of my CPA Firm informed. Things on the Tax, Financial and Legal front are changing more rapidly than ever.

Health Care Reform will fundamentally reshape the country and will impact how we all manage our financial and tax lives; Health Care Reform is only the tip of the iceberg. There are fundamental changes in our economy that need discussing.

 
 
 

Steve Richardson, CPA

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Revive Alabama: COVID-19 Cash Grants for Alabama Small Businesses

Mon, Jul 13, 2020

Newsletter from Steve Richardson & Company Certified Public Accountants July 11, 2020 Revive Alabama: COVID-19 Cash Grants for Alabama Small Businesses Dear Clients and Friends: This newsletter is of particular interest to our small business clients in Alabama. If your small business is in another state, similar opportunities may be available to you. The CARES … Continue reading Reviv...

July 2020 Update – Keeping Up With the Net Operating Loss Rules & Charitable Giving in a Time of Crisis

Mon, Jul 06, 2020

Newsletter from Steve Richardson & Company Certified Public Accountants . Keeping Up With the Net Operating Loss Rules When a trade or business’s deductible expenses exceed its income, a net operating loss (NOL) generally occurs. When filing your 2019 income tax return, you might find that your business has an NOL — and you may … Continue reading July 2020 Update – Keeping Up Wi...

PPP Loan Forgiveness, Part 4 

Tue, May 12, 2020

Newsletter from Steve Richardson & Company Certified Public Accountants May 11, 2020 Dear Clients and Friends: In my last newsletter, Gina got onto me about over-simplifying the FTE discussion. This newsletter will try to rectify that deficiency. I can guarantee you that my understanding of the CARES ACT and the related Rules and Regulations is … Continue reading PPP Loan Forgiveness,...

PPP Loan Forgiveness, Part 3 

Sat, May 09, 2020

Newsletter from Steve Richardson & Company Certified Public Accountants   May 8, 2020 PPP Loan Forgiveness, Part 3  Dear Clients and Friends: Where does one go on vacation in a time of pandemic? Todd decided that he needed some time off; that I can understand. We have all been working crazy hours, Todd more than … Continue reading PPP Loan Forgiveness, Part 3  →...

PPP Loan & The Minister’s Housing Allowance (Part 2)

Mon, Apr 27, 2020

Newsletter from Steve Richardson & Company Certified Public Accountants April 27, 2020 PPP Loan & the Minister’s Housing Allowance (part 2) Dear Clients and Friends: The SBA has made it official: the minister’s housing allowance is a part of wages for purposes of the PPP Loan application. See the following link to the US Treasury Department’s … Continue reading PPP Loan ...

PPP Loan Forgiveness

Wed, Apr 22, 2020

Newsletter from Steve Richardson & Company Certified Public Accountants April 22, 2020 PPP Loan Forgiveness  Dear Clients and Friends: My Mistake! I made a mistake in my last newsletter. Employer-paid Social Security, Medicare, and federal unemployment taxes are not CARES ACT wages for PPP Loan forgiveness purposes. I just assumed that since these employer taxes … Continue reading PPP...

New PPP Loan Funding And The Loan Forgiveness

Tue, Apr 21, 2020

Newsletter from Steve Richardson & Company Certified Public Accountants April 20, 2020 New PPP Loan Funding and the Loan Forgiveness  Dear Clients and Friends: Many of us have received the Paycheck Protection Program (PPP) Loan. Those of us who have not, do not despair: there is another round of funding expected from Congress. A Potential … Continue reading New PPP Loan Funding And Th...

SBA Wages & Minister’s Housing Allowance

Tue, Apr 07, 2020

Newsletter from Steve Richardson & Company Certified Public Accountants April 6, 2020 SBA Wages & Minister’s Housing Allowance  Dear Clients and Friends: We are already getting some SBA push back on Minister’s Housing Allowance. This push back is not uniform. The SBA is, itself, not sure of the rules. Attached, by reference to the following … Continue reading SBA Wages &...

Timely! SBA Releases Third Version Of PPP Loan Application Rules

Sun, Apr 05, 2020

Newsletter from Steve Richardson & Company Certified Public Accountants April 5, 2020 Timely! SBA Releases Third Version of Paycheck Protection Program Loan (PPPL) Application Rules   Dear Clients and Friends: A new PPP loan application We have a 3rd draft of the PPP Loan application rules. These will likely be the ‘mostly’ final rules. I suspect … Continue reading Timely! SBA Re...