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Sponsel CPA Group is implementing a computer systems upgrade starting at 5:00 p.m. on Friday, June 26 through Tuesday, June 30 at 8:00 a.m. Accordingly, our office will be closed

In this month’s newsletter, you can read about where Indiana stacks up in the best states for business, why you should take a break from work, how you can adjust

Despite the impact of COVID-19, Indiana still stands tall as one of the best states for business. For the fifth year in a row, Chief Executive magazine recently ranked the

For some, the year 2020 cannot end soon enough! The world is pretty chaotic right now, and it’s undoubtedly taking a toll on you. You may also feel that, with

With COVID-19 cases still in existence and protests breaking out across the country, you may find yourself stuck in an anxious state. If you go downtown, you will see businesses,

Raised in Crown Point, Lindsey Anderson moved to the east coast after graduating with a bachelor’s degree in accounting from the University of Indianapolis. Fortunately she returned to her Hoosier

On June 16, 2020, two new applications for PPP loan forgiveness were issued. These applications reflect changes related to the Paycheck Protection Flexibility Act (PPF). The two new loan forgiveness applications include

By Mike Bedel, CPA, CGMA Partner, Director of Audit and Assurance Services   mbedel@sponselcpagroup.com As new pronouncements and interpretations continue to be released about the forgiveness of PPP loans generated by the CARES

(Editor’s Note: All information included herein is as of June 9, 2020.) This is a follow up to our original newsletter on the Main Street Lending Program (MSLP) on April 22, 2020.

On Friday, June 5, 2020, the President signed the Paycheck Protection Flexibility Act (PPF), which modifies certain provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and Paycheck Protection Program

On Friday, May 22, the SBA released two new interim final rules for PPP loans. The interim final rules can be found at: https://home.treasury.gov/system/files/136/PPP-IFR-Loan-Forgiveness.pdf https://home.treasury.gov/system/files/136/PPP-IFR-SBA-Loan-Review-Procedures-and-Related-Borrower-and-Lender-Responsibilities.pdf This new guidance addresses requirements

In this month’s newsletter, we’ll help you navigate COVID-19 and introduce you to one of our many dedicated staff members!

The Internal Revenue Service has issued Alert Number 2020-06, which provides guidance to a number of modifications initiated due to their response to COVID matters, including: Deferral of Employment Tax Deposits

By Jason Thompson, CPA/ABV, ASA, CFE, CFF Partner and Director of Valuation and Litigation Services jthompson@sponselcpagroup.com Who knows what is next in this pandemic? Initially what started as a national emergency

By Eric Woodruff, CPA, CCIFP Partner, Audit & Assurance Services ewoodruff@sponselcpagroup.com When the New Year’s Eve ball dropped in Times Square, business owners’ minds probably flooded with a vision for

On Friday, May 15, the SBA released the much anticipated application for PPP loan forgiveness. The application and instructions can be found here. The application will be submitted by the

Skyler McCool first joined the firm as an intern amid the busy tax season of 2018. He went on to graduate with a degree in accounting and finance from Marian

On May 13, 2020, the United States Treasury Department (the Treasury) issued an update to the PPP FAQs. The update includes Questions 46 and 47. Question 46 appears to be

Today, the Indiana Department of Revenue announced additional filing and payment extensions, which are outlined below. Most notable is the extension of the individual and corporate estimated payment dates to

Our last communication on PPP loans shared the issuance of the Internal Revenue Services’ (IRS) Notice 2020-32, which clarifies that no tax deduction is allowed for an expense if the expense paid results