Employee Spotlight: Mary Ferguson
As a Manager in Entrepreneurial Services, Mary Ferguson has much experience helping clients with their internal accounting and bookkeeping needs. She is a QuickBooks Desktop and QuickBooks Online Certified Pro
Continue ReadingJuly 15th Tax Filing Deadline Reminder
Reminder: Your 2020 Personal Federal and Indiana First and Second Quarter Estimated Tax Payments — originally due on April 15, 2020 — are now due on July 15, 2020. In addition,
Continue ReadingMore Time to Get a PPP Loan!
On Wednesday July 1, 2020, the U.S. House of Representatives passed legislation to extend the June 30, 2020 deadline to apply for a Paycheck Protection Program (PPP) loan to August 8, 2020,
Continue ReadingPPP Loan Forgiveness Application Update
On June 22, 2020, yet another interim rule was published by the SBA related to revisions to the PPP loan forgiveness process that stem from the Paycheck Protection Program Flexibility
Continue ReadingAlert: Connectivity and Office Hours June 27-June 29
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
Continue ReadingJune 2020 Newsletter
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
Continue ReadingIndiana Remains Among Best States for Business
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
Continue ReadingIt’s Time to Take a Break … You’ve Earned It!
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
Continue ReadingLEADERS: Stay Focused on the Future
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,
Continue ReadingEmployee Spotlight: Lindsey Anderson
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
Continue ReadingRevised Loan Forgiveness Applications
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
Continue ReadingFinancial Reporting for PPP Loan Forgiveness
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
Continue ReadingMain Street Lending Program Updates
(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.
Continue ReadingThe Ever-Evolving World of the PPP Loan
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
Continue ReadingPPP Loan Forgiveness Interim Final Rule
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
Continue ReadingMay 2020 Newsletter
In this month’s newsletter, we’ll help you navigate COVID-19 and introduce you to one of our many dedicated staff members!
Continue ReadingIRS Update on COVID-Related Provisions
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
Continue ReadingWhen the Only Thing That’s Certain … Is Uncertainty
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
Continue ReadingWhen Your 20/20 Vision for the Current Year Has Become Clouded
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
Continue ReadingLoan Forgiveness Application
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
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