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Freed Maxick Service Delivery Update

We have implemented a phased approach for returning to our offices that allows us to modify our approach to service delivery as situations change without any service disruptions. In the meantime and in the interest of public health and the safety of our community, our teams will continue working remotely whenever possible to provide the same high-quality service you have come to expect. Utilizing state-of-the-art technology, we are committed to meeting all of your assurance, tax, and advisory needs to help you navigate a business environment filled with challenges and opportunities. To discuss a specific need that can’t be handled remotely, please contact your Freed Maxick representative directly.

Summing It Up

By
Picture of Richard J. Wright, Jr. CPA

Richard J. Wright, Jr. CPA

Director | Tax Practice
New York State to Conform to Federal Rules and Not Tax Forgivable PPP Loans
By Richard J. Wright, Jr. CPA on January 15, 2021

In a surprising announcement, New York State has provided updated guidance that they will now conform and adopt the federal rule contained within the CARES ACT and not tax forgivable PPP...

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PPP Reopening: Round 1 and Round 2 PPP Loan Updates
By Richard J. Wright, Jr. CPA on January 11, 2021

Here is what we know about the PPP reopening: PPP Round 1 loans will reopen to those businesses that have not yet received a PPP loan on Monday, January 11. For the first 2 days, the SBA...

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Congress Has Thrown PPP Borrowers the Life-Line We Expected
By Richard J. Wright, Jr. CPA on December 21, 2020

Finally, and not a minute too soon, Congress appears to have come to their collective senses and provided businesses with the critical correction to the CARES Act, with the New Stimulus...

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Did the IRS Just Burn Thanksgiving Dinner, or Ignite a Necessary Fire Under Congress?
By Richard J. Wright, Jr. CPA on November 22, 2020

On November 18th the IRS issued Revenue Ruling 2020-27 and Revenue Procedure 2020-51, clarifying their position regarding the deductibility of expenses paid with Paycheck Protection Program...

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SBA Quietly Developing a PPP Questionnaire
By Richard J. Wright, Jr. CPA on November 1, 2020

It appears that The Small Business Administration (SBA) is developing or has developed a new Paycheck Protection Program (PPP) questionnaire - although they have not officially commented...

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US Treasury Issues Notice 2020-65 Providing Guidance on Payroll Tax Holiday Deferral
By Richard J. Wright, Jr. CPA on August 29, 2020

The US Treasury issued Notice 2020-65, providing some level of guidance with respect to the payroll tax holiday memo signed by the President on August 8, 2020. Unfortunately, if you were...

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