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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

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Topic: Covid 19

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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Employee Retention Credit: 2021 Update
By Jonathan Tretter, CPA on January 12, 2021

If you are an employer that had a significant decline in gross receipts over the last 12 months or faced full or partial mandatory closure by government order, then the Consolidated...

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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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$900 Billion COVID-19 Relief Bill Passed by Congress
By Freed Maxick on December 22, 2020

It took months of contentious negotiations, but on the evening of December 21, Congress voted to approve a second stimulus package intended as a relief measure for businesses and...

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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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