Phase 2 of the Paycheck Protection Program: Forgiveness

Phase 2 of the Paycheck Protection Program: Forgiveness

The Paycheck Protection Program begins phase 2: forgiveness! On Friday evening, May 15, the SBA released the PPP Forgiveness Application, with a notable absence of guidance from the treasury. The form and instructions offer borrowers details on how to apply for...

Charitable Giving is Still Tax Efficient. Here’s Why:

At Ark, philanthropy is a pillar of our culture for us, and our clients. Charitable giving is tax efficient now more than ever thanks to the CARES Act. Did you know you can now offset your income 100% by donating to charity?(If you’re retired and still receiving...
Business owners & Net Operating Losses (NOL’s)

Business owners & Net Operating Losses (NOL’s)

For business owners, the timeline of when taxes are due, your busy season, and the end of the calendar year are at constant odds. To some degree, the IRS recognizes that. In order to tax businesses based on income and not account entries, the IRS allows Net Operating...
Paycheck Protection Program: What you need to know

Paycheck Protection Program: What you need to know

The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. UPDATES: Additional updates and provisions were released earlier today 4/3 regarding the Payroll Protection Program, including a finalized application and...