How’s your buy-sell agreement doing these days?

How’s your buy-sell agreement doing these days?

Most companies wouldn’t go into business without some basic types of insurance in place, such as property coverage and liability coverage. For a company with more than one owner, there’s an additional type of risk-management arrangement that needs to be established: a...
The CARES Act liberalizes net operating loss rules

The CARES Act liberalizes net operating loss rules

The Coronavirus Aid, Relief, and Economic Security (CARES) Act eliminates some of the tax-revenue-generating provisions included in previous tax law. Here’s a look at how the rules for claiming certain tax losses have been modified to provide businesses with relief...
PPP Loan Recipients get Bad News from IRS

PPP Loan Recipients get Bad News from IRS

The Internal Revenue Service recently issued Notice 2020-32 concerning expenses paid from funds received through the Paycheck Protection Program. In this guidance, the IRS explains that any expenses paid with forgiven PPP loan funds will not be deductible. Background...