After numerous trade organizations challenged the legality of the U.S. Small Business Administration’s Paycheck Protection Program (PPP) Loan Necessity Questionnaires, the SBA announced this month that it is dropping the requirement for loan necessity review for PPP loans of $2 million or larger. The questionnaires were an additional step to collect supplemental information to evaluate borrowers’ good-faith certifications on PPP loan ... more
Archives for July 2021
5 Ideas to Start Your Remote Job the Right Way
Between co-workers, managers, projects and a different culture from your previous workplace, the transition to a new job can be difficult—even in the best of times. For employees who start a new job remotely, it can be a daunting task to get up to speed on processes, expectations and collaboration. By communicating and proactively showing interest, you can help streamline the onboarding process and team development in your new role. Try these ... more
IRS Guidance to Change Depreciation Method for RPTOB
On June 17, 2021, the IRS released Revenue Procedure 2021-28 and Revenue Procedure 2021-29 that provide guidance for an electing Real Property Trade or Business (RPTOB) to conform to the use of a depreciation recovery period of 30 years under the Alternative Depreciation System (ADS) for residential rental property placed in service before January 1, 2018. As mentioned in our earlier blog, Consolidated Appropriations Act Changes the ADS ... more