Tax organizers for your 2021 tax returns will be going out in a few short months, please make sure we have your current email address. REMINDER: If you have tax data that you dropped off for us to prepare your tax return, don't forget to come by and pick it up. We continue to expect additional guidance from the Small Business Administration (SBA) with the potential to ease the documentation process for borrowers with loans less than $150,000.
Based on this information, we are recommending clients with loans greater than $50,000 and less than $150,000 refrain from submitting forgiveness applications at this time. Please note, this delay in application acceptance will not adversely affect you or your future PPP loan forgiveness status. All PPP loans that will likely be forgiven have to be taken as income in 2020 and cannot be deferred until 2021.
Contact our office so we can help you maneuver this new change during these last few weeks of the year. We are now offering Zoom meetings for any client that needs assistance after receiving a Payroll Protection Program loan or has questions about calculating payroll under the expanded Family Medical Leave Act.
Based on this information, we are recommending clients with loans greater than $50,000 and less than $150,000 refrain from submitting forgiveness applications at this time. Please note, this delay in application acceptance will not adversely affect you or your future PPP loan forgiveness status. All PPP loans that will likely be forgiven have to be taken as income in 2020 and cannot be deferred until 2021.
Contact our office so we can help you maneuver this new change during these last few weeks of the year. We are now offering Zoom meetings for any client that needs assistance after receiving a Payroll Protection Program loan or has questions about calculating payroll under the expanded Family Medical Leave Act.
Services
All good relationships are based upon mutual trust, understanding and effective communication.
Accordingly, we feel it is in our mutual best interest to communicate the expectation of our professional relationship in order to eliminate any confusion or misunderstanding which may arise in the future.
Therefore, we ask that all clients have a signed Engagement Letter in our office on file.
Please select the Engagement Letter that relates to your tax return preparation needs.
Also, if our office will be preparing more than one tax return, we will need to have a signed copy of the Engagement Letter for your personal return as well as each business on file, if applicable.
Accordingly, we feel it is in our mutual best interest to communicate the expectation of our professional relationship in order to eliminate any confusion or misunderstanding which may arise in the future.
Therefore, we ask that all clients have a signed Engagement Letter in our office on file.
Please select the Engagement Letter that relates to your tax return preparation needs.
Also, if our office will be preparing more than one tax return, we will need to have a signed copy of the Engagement Letter for your personal return as well as each business on file, if applicable.
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