With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers is even closer. By January 31, 2023, employers must file these forms: Form W-2, Wage, and Tax Statement. W-2 forms show the wages paid and taxes withheld for the year for each employee. They […]
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Thomas Howell Ferguson P.A. CPAs (THF), a professional accounting, assurance, governmental consulting, and tax services firm headquartered in Tallahassee, Florida admits Brandon Mott, CPA and Ben A. “Steve” Stevens III, CPA to the Shareholder group. “Brandon started his career with THF. We were the first CPA firm that he worked with, and he worked through […]
Jerry D. Parrish, Ph.D. is an Economist and professor within the Florida State University- Center for Economic Forecasting and Analysis. He holds a research background in energy, the environment, health, and economic development and agriculture. Previously, he served as the Chief Economist and Director of Research for The Florida Chamber Foundation and Chief Economist and […]
Thomas Howell Ferguson P.A. CPAs (THF or “the firm”), a professional accounting, assurance, governmental consulting, and tax services firm headquartered in Tallahassee, Florida, promotes Amanda Campbell to Consultant I and Scott Ereckson, Ryan Hagen, Michael Horne, Chris Smith, and Casey Waddill to Consultants II in the Governmental Consulting Services Department (GovCon). The GovCon team directly […]
Thomas Howell Ferguson P.A. CPAs (THF or “the firm”), the 135th largest accounting firm in the nation by Inside Public Accounting, recognizes Nicole Acosta on her promotion as Senior Manager and Brittany Bechtel as Manager in the Governmental Consulting Services Department. Nicole Acosta holds 18 years of experience in disaster recovery, government consulting, and procurement. […]
ORLANDO, Fla. – The Florida Institute of Certified Public Accountants (FICPA) is proud to announce that Julian Dozier, CPA, ABV, CFF, CFE, began his tenure as the Chair of the FICPA on July 1, 2022. “The FICPA has positively impacted every stage of my career, and I appreciate my fellow volunteers for entrusting me with […]
As the Treasury recently announced their launch of the Coronavirus State and Local Fiscal Recovery Funds, we know that there’s going to be questions on how to prepare for them, how they can be used, and much more. FREDA previously hosted a Planning for the American Rescue Plan Act Funds: Lessons Learned from the CARES […]
What should renters know about the Emergency Rental Assistance Program? The Consolidated Appropriations Act, 2021 passed Congress with strong bipartisan support. President Trump signed it into law on December 27, 2020. To sum up, this relief package provides critical support to the American people and will further strengthen our economic recovery. President Trump signed the […]
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Recently, Municode hosted a webinar on the CARES Act II – Emergency Rental Assistance Program. THF’s Steve Stevens and Government Services Group (GSG)’s Dave Jahosky had the opportunity to be panelists on this virtual discussion. There were great questions about the new CARES Act funding being provided by the IRS Treasury during the session. Continue […]
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What should governments know about the CARES Act and the Supplemental Appropriations Act relief package? The Consolidated Appropriations Act, 2021 passed Congress with strong bipartisan support. President Trump signed it into law on December 27, 2020. To sum up, this relief package provides critical support to the American people and will further strengthen our economic […]
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What Costs May Be Reimbursable By FEMA for COVID-19? All major disasters can lead to some form of political, social, and economic consequence. Normally these events are confined to a region of the country and regions within the respective states impacted. COVID-19 is not normal and has impacted all sectors of the economy including governments […]
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Today, United States Senator Marco Rubio (R-FL) held a town hall on the Paycheck Protection Program (PPP) loan forgiveness process. The town hall was held with the Florida Institute of Certified Public Accounts’ (FICPA) leadership and board. During the town hall, the Senator discussed specific federal responses to the ongoing COVID-19 pandemic. The topic included details […]
Read More… from Senator Marco Rubio Discusses PPP Loan Forgiveness with CPAs
On Tuesday afternoon, the Senate agreed on a $484 billion Coronavirus relief package for small businesses, hospitals, and testing. The House could approve the bill as early as Thursday. What does this deal include? $310 billion total for the Paycheck Protection Program (PPP), with $250 billion unrestricted and $60 billion set aside for smaller institutions. […]
Read More… from Senate Votes to Push Additional Money to Paycheck Protection Program (PPP)
United States Senator Rick Scott (R-FL) participated in a virtual town hall with the Florida Institute of Certified Public Accountants’ (FICPA) leadership and board members, including THF Shareholder and current FICPA Board member, Julian Dozier, on April 21, 2020. Also participating in the call was THF Director, Steve Stevens, former President of the FICPA’s Board. Topics included: […]
Read More… from Senator Rick Scott Meets with CPAs to Focus on PPP Loans
Will there be additional funding for the Paycheck Protection Program (PPP)? Members of the Senate began nearing a deal on Sunday that would bring an additional $370 billion into loan programs for small businesses. Talks were sparked after the initial $349 billion ran out of money on Thursday. Of this amount, $310 billion will be […]
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What is the Main Street Lending Program from the Federal Reserve? The Federal Reserve has taken additional actions to provide up to $2.3 trillion in loans to support the economy. This funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the […]
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Can my Paycheck Protection Program (PPP) loan be forgiven in whole or in part? Can my Paycheck Protection Program (PPP) loan be forgiven? Yes. The amount of the Paycheck Protection Program (PPP) loan forgiveness can be up to the full principal amount of the loan and any accrued interest. That is, the borrower will not […]
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What are the Paycheck Protection Program (PPP) loan terms and conditions? Loans will be guaranteed under the Paycheck Protection Program (PPP) under the same terms, conditions, and processes as other 7(a) loans, with certain changes including, but not limited to: The guarantee percentage is 100 percent. No collateral will be required. No personal guarantees will […]
Read More… from Paycheck Protection Program (PPP) – What do Borrowers and Lenders Need to Know?
What can the Paycheck Protection Program (PPP) Loan be used for? The proceeds of a Paycheck Protection Program (PPP) loan are to be used for: Payroll costs (to calculate payroll costs, click here); Costs related to the continuation of group health care benefits during periods of paid sick, medical, or family leave, and insurance premiums; […]
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You’ve done your research on the Paycheck Protection Program (PPP) Loan, and you think your business is eligible. How do you apply for it? In order to apply for the Paycheck Protection Program (PPP) Loan, you must submit SBA Form 2483 Paycheck Protection Program Application Form and your payroll documentation. The lender must submit SBA Form […]
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The Paycheck Protection Program (PPP) loan can help many businesses, but what are the loan details? Check out the specifics below. What is the interest rate on a Paycheck Protection Program (PPP) loan? The interest rate will be 100 basis points or one percent. The Administrator, in consultation with the Secretary, determined that a one […]
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The world isn’t getting less risky – pandemic events like COVID-19, catastrophic weather, devastating cyber threats, unthinkable man-made disasters, and more. Now more than ever, it’s imperative that organizations know how to respond to critical events and ensure essential functions are maintained. But is your organization fully prepared in the event of a crisis? Many […]
Read More… from 7 Mistakes to Avoid in Continuity of Operations Plan (COOP)
A Continuity of Operations Plan (COOP) is an effort within governmental departments and agencies to ensure that the Primary Mission Essential Functions (PMEFs) continue to be performed during a wide-range of emergencies, including localized acts of nature, accidents, pandemics, and technological or attack-related emergencies. The Coronavirus (COVID-19) is now a serious global threat. An increasing […]
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I have determined that I am eligible for the Paycheck Protection Program (PPP). How much can I borrow? Under the Paycheck Protection Program (PPP), the maximum loan amount is the lesser of $10 million or an amount that you will calculate using a payroll-based formula specified in the CARES Act, as explained below. How do […]
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Paycheck Protection Program (PPP) Eligibility Requirements You are eligible if you are: A small business with fewer than 500 employees A small business that otherwise meets the SBA’s size standard A 501(c)(3) with fewer than 500 employees An individual who operates as a sole proprietor An individual who operates as an independent contractor An individual […]
Congress has passed, and President Trump signed into law on March 18, 2020, the Families First Coronavirus Response Act (FFCRA). The FFCRA provides for three sections that likely will be of particular interest for employers (both for-profit and not-for-profit organizations alike): (1) Emergency Family and Medical Leave Act Expansion, (2) Emergency Paid Sick Leave, and […]
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Unfortunately, no organization is immune to cyber threats. These days, most companies should have some basic form of cyber security program in place. If yours doesn’t, or if you need a refresher, here are four steps you can take to establish a stronger foundation. Step 1: Create a Comprehensive Set of Cyber Security Policies What […]
Whether you’re traveling for business, charity, medical purposes, or pleasure, it is important to track your mileage for tax purposes. The IRS has documentation requirements in order to claim business mileage deductions. You will need to keep a mileage log for each year you claim this deduction. Your mileage log must include the starting mileage […]
The 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes have been issued. Beginning January 1, 2018, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be: 54.5 cents for every mile of business […]
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