PPP Updates: New Interim Final Rules Issued
On January 6, 2021, two Interim Final Rules related to the Paycheck Protection Program (PPP) were issued with several clarifications on the Economic Aid Act passed in December. A summary
Continue ReadingA Summary of the 2021 Consolidated Appropriations Act
Note: The stimulus bill summarized in this communication has not yet been signed into law by President Trump and is therefore subject to change. On Monday, December 21, 2020, Congress
Continue ReadingHappy Holidays from the Sponsel CPA Group Family!
Warm holiday wishes from our family to yours! 2020 posed challenges for us all. We are grateful to everyone who rose to the occasion during this difficult year — from
Continue ReadingDecember 2020 Newsletter
In this month’s newsletter, we explain IRS updates, discuss how to plan for 2021, explore risk analysis and introduce you to some of our fine team members!
Continue ReadingThe IRS Expands Identity Protection PIN Program
By Nick Hopkins, CPA, CFP® Partner, Director of Tax Services [email protected] At the start of the new year, the IRS will expand its Identity Protection PIN Opt-In Program nationwide to
Continue ReadingPlanning for 2021 with 20/20 Vision
By Tom Sponsel, CPA/ABV, CFF Managing Partner [email protected] As COVID continues to change our daily lives both personally and professionally, you may feel as though it’s impossible to plan for anything.
Continue ReadingAre You Managing Your Risks?
By Eric Woodruff, CPA, CCIFP Partner, Audit & Assurance Services [email protected] If 2020 has taught us anything, it’s that you can never be too careful when it comes to monitoring
Continue ReadingEmployee Spotlight: Dalton Mudd
Dalton Mudd started at Sponsel as an intern in the midst of the 2017 tax season. He later joined the tax services staff as a full-time member at the start
Continue ReadingAdditional IRS Guidance Regarding the Tax Implications of PPP Loans
The IRS recently released additional guidance regarding certain tax implications associated with the PPP loan program. A brief recap of some of the prior guidance that has been issued: The CARES Act specifically states that
Continue ReadingSBA to Require PPP Loan Necessity Form from Large Borrowers
On November 6, 2020, the SBA announced that PPP loan borrowers who received, together with affiliates, $2 million or more in Paycheck Protection Program loans, will now be required to
Continue ReadingNovember 2020 Newsletter
In this month’s newsletter, we explore the benefits of outsourcing, discuss ways to maintain your corporate culture amid COVID and introduce readers to new employees!
Continue ReadingAccounting: DIY vs. Outsourcing
By Lisa Purichia Partner, Director of Accounting Services & Retirement Plan Services [email protected] Right now, amid the economic upheaval of COVID, business owners should be focusing on streamlining their business.
Continue ReadingWorking Remotely: Mutual Goals & Expectations
By Mike Bedel, CPA, CGMA Partner, Director of Audit & Assurance Services [email protected] For many people, the weekly work routine is quite different these days. Rather than driving to the
Continue ReadingEmployee Spotlight: Abigail Hedges
Abigail Hedges has been with Sponsel for over three years, starting shortly after her graduation from Taylor University, where she earned bachelor’s degrees in accounting and management. Since her graduation,
Continue ReadingPPP Loan Forgiveness: Three Key Updates
The SBA had been fairly quiet recently on the Paycheck Protection Program (“PPP”) loan forgiveness processes until early October when a few announcements were made within a week’s time. The
Continue ReadingSeptember 2020 Newsletter Part II
In this month’s newsletter, we discuss the importance of attitude, identify the benefits of a strong staff and introduce you to some of our own team members!
Continue ReadingYour Attitude Sets the Course
By Lisa Purichia Partner, Director of Accounting Services & Retirement Plan Services [email protected] Attitude is vital in leading your organization through the challenging times we have experienced this year. As
Continue ReadingSurround Yourself with a Strong Team!
By Eric Woodruff, CPA, CCIFP Partner, Audit & Assurance Services [email protected] A leader is only as strong as the team behind them. As you continue adapting to how COVID’s changing
Continue ReadingEmployee Spotlight: Christopher Sargent
Christopher Sargent started as an intern for Sponsel CPA Group in the spring of 2016 and became a full-time staff member in the fall of 2017. Christopher was recently promoted
Continue ReadingGuidance on Implementing Deferral of Social Security Tax Withholding
The Department of Treasury and Internal Revenue Service issued Notice 2020-65, which provides guidance on implementing the Presidential Memorandum that allows employers to defer withholding and payment of the employee’s
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