Top of the morning #TaxTwitter . Does anyone have a reputable remote book keeper who’s looking for work? Any recommendations would be greatly appreciated. Thanks 🙏 in advance
Accounting Salon was built on the premise of generosity of spirit. We embrace equality. The black community has shouldered the burden of an oppressive system for too long. The accounting profession is no exception . We are taking a stand against racism.
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As we wrote this morning, @USTreasury is 10 days late in providing guidance on PPP loan forgiveness. 10 days past the deadline set in the CARES Act.
Millions of small biz are being asked to make life/death decisions without the visibility they were promised.
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Here's the BIG QUESTION that comes to my mind first: Will these wages, even though not able to be deducted count towards QBI calculations? That's a BIG issue that has to be answered. #TaxTwitter
One purpose of the PPP is to keep people off of unemployment. So companies have taken idle employees off of unemployment and back on payroll and now have to pay TAXES on the funds, PLUS the 7.65 FICA match AND workers comp AND pay accountants to sort out this mess. #PPPFail
“Some of the nation’s biggest banks, including JPMorgan Chase, Citibank and U.S. Bank, prioritized the coronavirus PPP loan applications of their wealthiest clients before turning to other loan seekers.” The banks earn bigger fees for bigger loans. nytimes.com/2020/04/22/bus…
@AguillardAcct@Chase Pathetic. Bunch of my clients just got this same email. Cant be a coincidence that out of 220K, people are being notified now. I'm not aware of any chase customer that was approved in round 2...those that were approved most likely never received this msg -not pleasing at all!
@ChaseSupport 0 out of our 30+ clients who bank with @ChaseforBiz have been approved for their #PPPLoans. Your status update has not changed since the second round of funding started. Are you taking care of #SmallBusinesses? If so, can I DM you their info to get more clarity?