On December 27, 2020, the Economic Aid to Hard-Hit Small Business, Nonprofits, and Venues Act (the 2021 Act) was signed into law. It includes additional funding for the Paycheck Protection Plan (PPP) and expands eligibility to certain not-for-profit organizations. The 2021 Act does the following: Provides another $284 billion in funding for the PPP; Allows […]
Read More… from What Not-for-Profit Organizations Should Know About the Second Round of the Paycheck Protection Program (PPP)
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 […]
Read More… from CARES Act II – Emergency Rental Assistance Program Q&A
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 […]
Read More… from What Governments Should Know about the CARES Act Relief Package
With everything surrounding COVID-19 and this past year, budgeting for 2021 will prove to be a challenge for many not-for-profits. Some not-for-profits had to decrease their services and staffing. Others have redirected their mission to serve their community’s more pressing needs. Many fundraising events were canceled this year in an effort to adhere to social […]
Read More… from Best Practices for 2021 Budgeting for Not-For-Profits
In December, Congress passed a bill allotting $284 billion in new funding. The Paycheck Protection Program (PPP) Second Draw will provide the hardest-hit businesses a chance at a second loan. The PPP 2.0 makes other changes too, including eligibility and limits for some loan sizes. Dennis Gallant answers some commonly asked questions on the Second […]
Read More… from Paycheck Protection Program (PPP) Second Draw Q&A
What are the key takeaways from the second round of the Paycheck Protection Program (PPP)? The Consolidated Appropriations Act (CAA) 2021 permits certain small businesses who received a Paycheck Protection Program (PPP) loan and experienced a 25% reduction in gross receipts to take a PPP Second Draw Loan of up to $2 million. Who is […]
Read More… from Key Takeaways from the Second Round of the Paycheck Protection Program (PPP)
Watch the video above for a special happy new year video message from your friends at THF. After all, who could say it better than our team? Here’s to wishing you a wonderful 2021! Every end marks a new beginning! New is the year, new are the hopes, new are the resolutions, new are the […]
Read More… from Happy New Year from the THF Team!
THF congratulates Ying Wang and Megan Townsend on their new leadership roles with community boards. New Leadership Roles Ying Wang recently joined the Girls on the Run Board of Directors. Girls on the Run is an after-school program. It is designed to inspire girls of all abilities to recognize and embrace their inner strength. […]
Read More… from THF Congratulates Ying Wang and Megan Townsend on their new leadership roles with community boards
THF recently hosted the 10th annual Insurance Conference on Financial Reporting (INCON) with the Florida State University Catastrophic Storm Risk Management Center. INCON is a conference for insurer CFOs, controllers, treasurers, and others who deal with insurer financial matters. This conference offers unparalleled opportunities to stay abreast of changes that impact the activities and financial […]
Read More… from THF recently hosted the 10th annual Insurance Conference on Financial Reporting (INCON)
THF congratulates Catherine Stout and Taylor Harmon on their promotion to Senior Manager in the Assurance Services Department. […]
Read More… from THF Promotes Catherine Stout and Taylor Harmon to Senior Manager
Our very own Steve Stevens had the opportunity to speak on how the CARES Act funding can positively and quickly impact your community, local government responsibilities, federal regulations and guidelines, allowable costs, ineligible costs, and more! Check out the full webinar here. […]
Read More… from Maximize the Use of Your CARES Act & Minimize Disallowance Webinar
On Friday, July 24th, the Federal Reserve Board released modifications to the Main Street Lending Program that will provide greater access to credit for not-for-profit organizations. The Board approved two new loan options to provide support to a broad set of not-for-profit organizations that were in sound financial condition prior to the pandemic. The Board […]
Read More… from Modifications to the Main Street Lending Program Expands Eligibility to Not-For-Profits
Our very own Steve Stevens had the opportunity to speak on the overview of the CARES Act Funding. Check out the full webinar here, or you can read some of the notes from the session below. CARES Act Local Government Program Process for counties to receive CARES funding Counties accessed disbursement using the DEM Grants Management […]
Read More… from CARES Act Funding Overview Webinar
Our very own Canita Gunter Peterson, CPA and Andrea Medley, CPA had the opportunity to speak on the accounting changes that have been made in response to COVID-19. Check out the full webinar here. […]
Read More… from Eye on the Economy: Navigating the New Normal in the COVID Accounting World Webinar
In case you missed the webinar today on FEMA Reimbursement for COVID-19 Expenses, we have included information below that was discussed. In the webinar, we also spoke about the CARES Act and the Employee Retention Credit. You can access the FEMA Reimbursement for COVID-19 Expenses for Private Non-Profits presentation at the link below. FEMA Reimbursement […]
Read More… from FEMA Reimbursement for COVID-19 Expenses for Private Non-Profits Webinar
We know that some of these forms may seem daunting. Follow the instructions below for more clarity on how to complete the PPP Forgiveness Calculation Form. Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN) • Enter the same information as on your Borrower Application Form. Business Address/Business Phone/Primary Contact/E-mail Address • Enter […]
Read More… from How Do I Fill Out the Paycheck Protection Program (PPP) Forgiveness Calculation Form?
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 […]
Read More… from What Costs May Be Reimbursable By FEMA for COVID-19?
If your organization was not able to receive money through the Paycheck Protection Program, you may be able to claim an Employee Retention Tax Credit! The CARES Act supports certain employers that operate a business during 2020 and retain their employees with an employee retention tax credit, despite experiencing economic hardship related to COVID-19. Like other eligible employers, […]
Read More… from CARES Act Relief for Not-For-Profit Organizations – Employee Retention Credit
Borrowers can be eligible for loan forgiveness for eligible payroll costs and eligible nonpayroll costs through the Payroll Protection Program (PPP). Borrowers are generally eligible for forgiveness for the payroll costs paid and payroll costs incurred during the eight week (56-day) covered period. Payroll costs are considered paid on the day that paychecks are distributed, […]
Read More… from What Costs Are Eligible for Loan Forgiveness Through the Payroll Protection Program (PPP)?
Additional answers have been posted by the SBA pertaining to the Payroll Protection Program (PPP) payroll costs. Here is a sample of questions and answers that have been posted. Do PPP loans cover paid sick leave under payroll costs? What period of time should borrowers use to determine their number of employees and payroll costs […]
Read More… from Paycheck Protection Program (PPP) – Payroll Costs Q&A
Are you wondering if your private nonprofit is eligible for FEMA reimbursement? This chart will help you determine if seeking reimbursement from FEMA may be an option for your organization. Additional information can be found in our COVID-19 Resources Center. For questions, please email our emergency management team leader Steve Stevens at email@example.com. […]
Read More… from Private Nonprofits Eligible for FEMA Reimbursement
What should veterans do to get their stimulus money from the IRS? How do they get their money for their dependents? The Internal Revenue Service (IRS) issued a special alert for Supplemental Security Income and Department of Veterans Affairs beneficiaries. If they didn’t file a tax return in 2018 or 2019 and have dependents, they […]
Read More… from What Should Veterans Do To Get Their Stimulus Money?
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 […]
Read More… from Will there be additional funding for the Paycheck Protection Program (PPP)?
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 […]
Read More… from Paycheck Protection Program (PPP), Can the Loan Be Forgiven?
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 […]
Read More… from How do I apply for the Paycheck Protection Program (PPP) Loan?
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 […]
Read More… from 7 Key Steps for a Continuity of Operations Plan (COOP)
(Audio Only) Updates on COVID-19 relief as of April 2, 2020, with Allison Harrell, Michael Kalifeh, and Canita Gunter Peterson. […]
Read More… from COVID-19 Updates with THF Shareholders – As of 4/2/2020
The Tax Cuts and Jobs Act enacted in 2017 imposed a parking tax under I.R.C. Section 512(a)(7). This parking tax has been retroactively repealed under the Taxpayer Certainty and Disaster Tax Relief Act signed into law on December 20, 2019. This Act retroactively repeals for tax-exempt organizations the unrelated business income tax on disallowed fringe […]
Read More… from No More Parking Taxes for Not-For-Profits!
In today’s day and age, it is important to understand what cryptocurrency is. Cryptocurrency or virtual currency, is a digital medium of exchange that can be used for purchasing, selling, and storing value, but it is not backed by a sovereign government. The U.S. Treasury currently classifies cryptocurrency as intangible property. Despite the name, it […]
Read More… from 3 Tips on Using Cryptocurrency in Business
THF’s Tampa Team has been named the winner of the United Way Spirit of Suncoast Award in the category of “less than 100 employees” for the 2018 campaign year. United Way’s Spirit of Suncoast Award honors local companies for their exceptional commitment and investment by their organization and their employees. The award is presented […]
Read More… from THF’s Tampa Team Named Winner of United Way Suncoast Award
THF congratulates Brandon Mott on being selected as a Florida Institute of Certified Professional Accountants (FICPA) Horizon Award recipient. The FICPA’s Horizon Awards recognize the brightest young CPAs who are advancing the CPA profession and working to better their communities through service. Honorees are considered to be accelerating the accounting field through professional experience, leadership, […]
Read More… from THF Congratulates Brandon Mott on Being Selected as an FICPA Horizon Award Recipient
The 2019 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 on January 1, 2019, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 58 cents for every mile of […]
Read More… from Mileage Rates for 2019 & Popular Mileage Tracking Apps
THF congratulates Megan Keplinger on joining the Tallahassee Network of Young Professionals Board as the Marketing Chair. The Tallahassee Network of Young Professionals was established with the goal to foster personal and professional growth by connecting members through fun and engaging activities, while simultaneously offering career enhancing opportunities. Its mission is to make Tallahassee a city […]
Read More… from THF Congratulates Megan Keplinger on Joining the Tallahassee Network of Young Professionals Board
THF congratulates Allan Franklin III on earning the Certified Fraud Examiner (CFE) designation. He has also been invited to join the Board of Directors of Infragard of Tallahassee. The CFE is a credential awarded by the Association of Certified Fraud Examiners (ACFE). The ACFE is a provider of anti-fraud training and education. With over 80,000 members, […]
Read More… from THF Congratulates Allan Franklin III on Earning the Certified Fraud Examiner (CFE) Designation and Joining the Board of Directors of Infragard of Tallahassee
THF welcomes Beau Liao and Matthew Warren to the firm. Matthew, a Tallahassee native, received his bachelor’s degree in accounting from Flagler College. Matthew attended Chiles High School and is in his first year of public accounting. Beau, originally from China, received his bachelor’s degree in accounting from Florida State University, followed by his master’s […]
Read More… from THF Welcomes Beau Liao and Matthew Warren to the Firm
THF congratulates Gabe Crook and Jessica Gonzalez Shipe on their promotions to Senior in the Assurance Services Department along with Megan Keplinger to Marketing and Business Development Coordinator. Gabe graduated with a bachelor’s degree in business administration from Florida State University. Gabe joined THF in 2015, and has been providing accounting and management services for over […]
Read More… from THF Promotes Gabe Crook, Jessica Gonzalez Shipe, and Megan Keplinger
THF promotes Will Groom and Tim Icardi to Senior within the Tax Services Department. Will joined the THF team in September 2016. His current responsibilities include the preparations of C-Corporation, S-Corporation, partnership, individual, not-for-profit, and state tax returns. Will graduated with a bachelor’s degree in accounting and finance followed by a master’s degree in taxation […]
Read More… from THF Promotes Will Groom and Tim Icardi to Senior in the Tax Services Department!
THF announces that Julian Dozier and Brian Walgamott have been admitted as shareholders and will join the eight other shareholders as owners of the company. A graduate of Leadership Tallahassee Class 32, Julian Dozier has been providing assurance, consulting, and other accounting services since 2006. He has a special interest in for-profit entities with specialized […]
Read More… from THF Names Two New Shareholders: Brian Walgamott and Julian Dozier!