Do You Qualify for the Employee Retention Credit?

The Employee Retention Credit (ERC) incentivizes organizations to keep employees on the payroll during COVID-19, and with new rules, it’s possible to claim as much as $14,000 per employee in 2021.

2021-02-26T16:09:24-05:00February 25, 2021|Categories: Not-for-Profit, PBMares COVID-19 Insights, Tax: Business|Tags: , , |

List of COVID-Related Grants Triggering Single Audits

Funding received from state or local governments may have originated in the Cares Act and may only be pass-through funding. Thus, the entity may be subject to a single audit requirement. Here is a list of CARES Act- and COVID-19-related programs that could trigger a single audit.

Expanded Funding and Tax Benefits for Not-for-Profit Organizations in COVID-19 Relief Bill

Not-for-profit organizations have been a source of hope and resources for the communities they serve, but many are still struggling with the effects of COVID-19. The latest round of stimulus relief allocated $900 billion to ongoing COVID-19 relief measures, many of which stand to benefit not-for-profits.

2021-01-26T10:24:37-05:00January 26, 2021|Categories: Not-for-Profit, PBMares COVID-19 Insights, Uncategorized|Tags: , |

Credit Unions and the Rise of COVID-19 Financial Fraud

In the wake of COVID-19, financial institution fraud is on the rise thanks to a mostly virtual environment and exposed vulnerabilities in organizations’ security systems and processes. Developing awareness of the types of fraud schemes is an important part of mitigating and lowering the risk.

2021-01-20T14:16:11-05:00January 20, 2021|Categories: Credit Unions, Cybersecurity, Financial Institutions, PBMares COVID-19 Insights|Tags: , |

Post-Pandemic Financial Insights and Strategies for Nonprofits

2020 has been a difficult year for nonprofit organizations. In difficult times, financial innovation and risk mitigation are necessary to survive and thrive when true recovery begins. During this summit, we will present the issues, trends, key takeaways, and even opportunities we have seen while serving nonprofits since the COVID-19 pandemic started.

2021-02-09T10:24:37-05:00January 20, 2021|Categories: Past Events, PBMares COVID-19 Insights|Tags: , |

Is Your Not-for-Profit Organization’s COVID-19 Funding Triggering A Single Audit?

Part of the recovery funding for many not-for-profits has come from grants. While these funds have directly helped not-for-profits keep their doors open, many executives may not realize that some of these funds could trigger a single audit.

2021-01-19T15:50:27-05:00January 19, 2021|Categories: Audit & Assurance, Not-for-Profit, PBMares COVID-19 Insights|Tags: , , |

EIDL Grants No Longer Reduce PPP Forgiveness

The Economic Aid Act, which became law on December 27, 2020, made PPP loans fully forgivable regardless of EIDL grants received. Now, the SBA has issued guidance and new forgiveness forms removing the need for an EIDL reduction.

PPP Round 2 – What You Need to Know

The Economic Aid Act, included in the 2021 Appropriations Act expanded the Paycheck Protection Program (“PPP”) to include second draw loans for hard-hit small businesses. Here's what you need to know to take advantage of this program.

2021-01-08T12:59:17-05:00January 8, 2021|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , |

Home Office Deduction Primer

With the tax filing season just around the corner, I repeatedly hear the question, “can I deduct my home office?” The answer varies as the IRS has a more restrictive definition of the home office than those heard in ordinary conversation.

2021-01-07T11:12:18-05:00January 7, 2021|Categories: Accounting, PBMares COVID-19 Insights, Tax: Business, Tax: Individual|Tags: , |
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