McClintock Minute

Follow

Articles by Daniel R. Steinmeyer, MBA, CPA

Stay on Top of Potential PPP Tax Concerns & Solutions

Stay on Top of Potential PPP Tax Concerns & Solutions

By Daniel R. Steinmeyer, MBA, CPA December 7, 2020

This year’s Paycheck Protection Program (PPP) was a life preserver for many companies and for-profit organizations, as well as their employees, as the COVID-19 pandemic ramped up and businesses were forced to close. But there are some potential tax considerations for business owners and pass-through entities regarding the loan program…

Senate Passes PPP Reform Bill: What to Know

Senate Passes PPP Reform Bill: What to Know

By Daniel R. Steinmeyer, MBA, CPA June 5, 2020

The U.S. Senate on Wednesday passed a House bill to revamp the Paycheck Protection Program (PPP), giving a boost to small businesses and organizations trying to stay afloat during the coronavirus pandemic and resulting economic turmoil. The PPP allows businesses to apply for forgivable emergency loans, but its rollout wasn’t…

Revised Application for Paycheck Protection Program Loans

Revised Application for Paycheck Protection Program Loans

By Daniel R. Steinmeyer, MBA, CPA April 3, 2020

The Small Business Administration has provided additional guidance regarding the Paycheck Protection Program.  In addition, they have made revisions to the Borrower Application Form.  Reference our Loan Application Checklist for additional information on what to prepare prior to completing the form. The Department of the Treasury website provides a copy…

7 ways the SECURE Act changes your tax situation

7 ways the SECURE Act changes your tax situation

By Daniel R. Steinmeyer, MBA, CPA January 23, 2020

On Dec. 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), which is part of the Further Consolidated Appropriations Act, 2020 (P.L. 116-94). The SECURE Act was enacted to expand the opportunities for individuals to increase their retirement savings and simplify the retirement…