New Student Loan Rules Provide Great Benefits for Businesses and Individuals

The federal government has provided new tax savings opportunities for student loans in the CARES Act and the SECURE Act, both of which can help reduce the overall cost of paying down student loans.

2020-06-09T08:34:17-04:00May 29, 2020|Categories: PBMares COVID-19 Insights, Tax: Individual|Tags: |

Non Member Revenue Reporting Requirements

At the end of last year, many clubs received the exact same form letter from the IRS, Letter 6176 (4-2019) Catalog Number 72211B.  The letter appears to have been generated by the IRS and sent to many  501(c)(7) exempt organizations reporting nonmember income regardless of the nonmember percentage of gross receipts. 

2020-05-28T14:29:00-04:00May 28, 2020|Categories: Hospitality, Private Clubs|Tags: , , |

Didn’t Receive a PPP Loan? Employee Retention Credit and Other CARES Benefits Available

If your business didn’t qualify for or secure a PPP loan, there are several other tax benefits provided by the CARES Act.  Here we’re going to take a closer look at some of the most advantageous programs available.

2020-05-27T12:19:37-04:00May 26, 2020|Categories: COVID-19 Business Resources, PBMares COVID-19 Insights|Tags: , , |

Businesses with $5 Million or More of Gross Receipts Sourced to Washington, D.C. Hit with Ballpark Fee

Many are certainly lamenting that we may not be able to see any baseball this year at Nationals Park. However, the District of Columbia will still be collecting the Ballpark Fee which is coming due June 15, 2020.

2020-05-20T11:45:17-04:00May 20, 2020|Categories: Tax: Business|Tags: , |

Impact of Changes to Unrelated Business Taxable Income for Exempt Organizations

The IRS recently issued proposed regulations regarding separately computing UBTI for each trade or business activity that could increase a not-for-profit’s tax exposure and liability.

2020-05-19T13:08:45-04:00May 19, 2020|Categories: Not-for-Profit|Tags: , , |

PPP Loan Forgiveness Application Released: What Documents Businesses Should Maintain

As a large portion of PPP loans have been disbursed and more funds on their way to businesses in need, SBA and Treasury have now turned their attention to the forgiveness portion of the PPP program.

PPP Loan Forgiveness Application Released: What Do Business Owners Need to Know?

On Friday evening, May 15, the SBA released the much-anticipated PPP Forgiveness Application.  Though we still await a new Interim Final Ruling relating to forgiveness, the application provides answers to some of our most frequent questions.

Are You Struggling With Your PPP Loan?

This webinar recording covers Paycheck Protection Program (PPP) loan forgiveness and loan management, helping you navigate the ever-changing rules and regulations of this CARES Act financial provision.

Wealth Transfers in a Low Interest Rate Environment

Throughout the past several months investors have seen turbulent markets affect not only their portfolios but their livelihood as well. As we continue to monitor this unsettling time we also see opportunity.

2020-05-20T14:20:10-04:00May 14, 2020|Categories: Wealth Management|Tags: , , |