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30 07, 2021

SBA Releases New PPP Loan Forgiveness Guidance

By |2021-07-30T13:09:30+00:00July 30th, 2021|Blog|

On July 28, the U.S. Small Business Administration (SBA) released an update to the forgiveness process for the majority of Paycheck Protection Program (PPP) loans. The goal of the new guidance is to streamline the process for PPP participants with loans of $150,000 or less. The interim final rule includes updates in three key areas:

29 07, 2021

Reflecting on 100 Years with Louis Plung

By |2021-07-29T13:45:28+00:00July 29th, 2021|Blog|

This year marks an important and impressive milestone for Louis Plung & Company - 100 years of service. Very few firms are able to taut such an impressive history of operation. In order to mark the occasion, we sat down with firm managing partner, Louis Plung, to reflect upon the storied history of the firm.

29 07, 2021

Louis Plung & Company Celebrates 100 Years in the Community

By |2021-07-29T14:01:01+00:00July 29th, 2021|Blog|

Louis Plung & Company (LPC) is pleased to announce the celebration of 100 years of service. “One hundred years in business is an exceptional accomplishment for our firm—an entire century!” said Louis Plung, CPA, managing partner of LPC. “It is clear to me that our long-term success is a direct result of the value we

14 07, 2021

Child Tax Credit Update

By |2021-07-14T14:59:58+00:00July 14th, 2021|Blog|

We want to make sure that you are aware of a new change to the Child Tax Credit that may impact you. Included in the American Rescue Plan Act of 2021 (ARPA) were some major changes to the Child Tax Credit for tax year 2021. These changes include: An increase of the credit from $2000

9 06, 2021

How Biden’s Proposed American Families Plan Might Affect You

By |2021-06-09T15:08:07+00:00June 9th, 2021|Blog|

President Biden presented his proposed American Families Plan (AFP) during his Joint Session of Congress address on April 29, 2021. What follows is an overview of what is included in the plan. But this is only his wish list; Congress will need to draft proposed legislation that will have to pass in both the House

9 06, 2021

How to Protect Your Data in QuickBooks

By |2021-06-09T15:05:50+00:00June 9th, 2021|Blog|

After the unprecedented year we’ve just experienced, the last thing you need is to have your accounting data compromised or stolen. It would be impossible to reconstruct your QuickBooks file from scratch, and you can’t afford to have a hacker steal any of your funds. There are numerous steps you can take to protect yourself

9 06, 2021

SBA Raises Loan Limit For COVID-19 EIDL Loans to $500,000

By |2021-06-09T15:02:33+00:00June 9th, 2021|Blog|

As U.S. businesses continue to recover from COVID-19’s economic devastation, the U.S. Small Business Administration (SBA) is expanding loan opportunities. The agency announced that beginning the week of April 6th, nonprofits and small businesses will be able to borrow up to $500,000 for up to 24 months. This expansion of the COVID-19 Economic Injury Disaster

3 06, 2021

IRS Issues New Guidance Regarding COBRA Changes Implemented by the ARPA

By |2021-06-03T16:23:16+00:00June 3rd, 2021|Blog|

The Internal Revenue Service (IRS) recently issued new guidance in an effort to clarify the COBRA premium assistance and credit available under the American Rescue Plan Act (ARPA). The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) established continued health coverage for employees experiencing a reduction in hours or an involuntary termination. Under the ARPA,

13 04, 2021

Great News, Child Care Tax Credit Expanded for 2021

By |2021-04-13T16:23:35+00:00April 13th, 2021|Blog|

Great news if you are paying childcare expenses that enable you to work. As part of President Biden’s American Rescue Plan Act (ARPA) signed into law on March 11, 2021, the child and dependent care tax credit has been substantially increased. Here are the details: The credit increases and other provisions of the ARPA that

13 04, 2021

Don’t Be A Victim to IRS-Impersonating Scammers

By |2021-04-13T16:22:45+00:00April 13th, 2021|Blog|

Thieves use taxpayers’ natural fear of the IRS and other government entities to ply their scams, including e-mail and phone scams, to steal your money. They also use phishing schemes to trick you into divulging your SSN, date of birth, account numbers, passwords and other personal data that allow them to scam the IRS and

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