I’d like to take this time to formerly announce the retirement of Jeffrey M. Schenker, CPA and the transition of his accounting, Bookkeeping and Tax practice to D.E. Rodrigues & Company. Jeff and his father have been in practice for over sixty years in Fall River, providing professional services to individuals and companies in the South Coast region. As a...
Ok so you’ve applied for a PPP Loan, gotten the approval and received your money. You’ve heard that this loan is forgivable so all you do is sit back and wait for the SBA to send you something, right? WRONG!!!! Under the current law, forgiveness must be applied for through your bank in conjunction with the SBA. This application has...
Tags: PPP Loan Forgiveness
Category: Business
Congress has just passed the Paycheck Program Flexibility Act of 2020. This new Act eases some restrictions on PPP loan funds: Specifically, the timeline has been extended from eight to twenty four weeks. The portion of the loan that must be used on payroll has been reduced to 60% from 75%. The unforgiven portion of the loan has been extended from...
Tags: PPP Update
Category: Business
As some small businesses are seeing PPP loan funds come in, the most logical next question that comes to people’s mind is, “how do I make sure my loan is forgiven?”. First of all you have to remember to apply for Loan forgiveness. The form has just been made available by the SBA. Be sure to do the following: Detailed...
Tags: PPP Loan Forgiveness
Category: Business
Make the most of your banking relationships When the Payroll Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) rolled out this spring, many small business owners who didn’t have an existing relationship with a bank or other lender found themselves unable to apply for these federal loan programs. The COVID-19 pandemic has highlighted the importance of having an established...
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Category: Business
If your business was open on or before February 15, 2020 and has 500 or fewer employees or independent contractors for whom the business paid salaries, compensation and payroll taxes, you qualify. Businesses with more than 500 employees are eligible in certain industries. One such example is the hospitality and food sectors that have multiple locations. These companies can have...
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Category: Business
Recently, it has come to my attention that many folks feel that I have merged D.E. Rodrigues and Company with Jardim and Marotta in order to retire. This could not be further from the truth! Neither myself, Rose Jardim , nor Christie Marotta plan to retire or sell our practices in the future. The offices are also not being moved...
Tags: our recent merger
Category: Business
It’s easy to get in the mindset that if you want things done the right way you have to do them yourself. But that isn’t always the best approach at work, even if you firmly believe you’re the best person for the job. There simply isn’t enough time in the day, especially if you have a business to run. Limke...
Unless a small business owner handles all aspects of computing and paying payroll, there is room for fraud. Even if your company has only a few employees — it does not guarantee your funds will be safe. How payroll fraud happens Perhaps one of the easiest payroll fraud techniques is the overpayment of withholding or payroll taxes. Your bookkeeper...
Tags: payrol fraud
Category: Business
Not all CPA firms are alike! Pay attention to the details when deciding. One firm in our area claims to be the largest firm in the area. That firm is part of a national firm whose headquarters are in the Midwest, whose partners are local. Therefore, their structure is nothing more than a satellite office of a much larger firm; whose operations...
Tags: Local knowledge
Category: Business