AHP Blog - Andrews Hooper Pavlik PLC

Payroll Tax Changes and Other Related Matters for 2021

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Federal and State of Michigan tax changes and information for this year. Learn more about the 2021 changes in this article.

Extension of Payroll Tax Credits Under the FFCRA (as Enacted with the Signing of the CAA)

The Consolidated Appropriations Act (CAA), 2021, signed into law on December 27, 2020, extended the employer tax credits available to employers who voluntarily pay eligible employees sick leave and/or expanded family and medical leave through March 31, 2021. Learn more about the extension in this article.

Michigan Small Business Survival Grant Program to Begin Accepting Applications Tuesday

The State of Michigan announced a new grant program for small businesses who are experiencing ongoing loss from COVID-19 and the Gatherings and Mask Order. Learn more about the Program in this article.

Pandemic Relief Package for Individuals and Businesses Signed by President Trump

Congress has passed new stimulus relief legislation which contains multiple provisions to help taxpayers, including individuals and businesses. The President signed this legislation yesterday after almost a week of uncertainty about whether he would or would not sign it. After review and analysis of the new legislation, this article highlights what we believe will be of most interest.

Michigan Strategic Fund Unveils $10 Million in Grants for Small Businesses

The Michigan Strategic Fund has approved a $10 million grant program to assist small businesses who have been adversely affected by the Coronavirus pandemic.

Should You Go Phishing with Your Employees?

Every business owner is aware of the threat posed by cybercriminals. If a hacker were to gain access to the sensitive data about your business, customers or employees, the damage to your reputation and profitability could be severe.

Now More Than Ever, Carefully Track Payroll Records

The subject of payroll has been top-of-mind for business owners this year. The COVID-19 pandemic triggered economic changes that caused considerable fluctuations in the size of many companies’ workforces. Employees have been laid off, furloughed and, in some cases, rehired. There has also been crisis relief for eligible businesses in the form of the Paycheck Protection Program and the payroll tax credit.

Standards OverVIEW: FASB Issues Guidance for Not-For-Profit Presentation and Disclosure of Contributed Nonfinancial Assets

The Financial Accounting Standards Board (FASB) recently issued Accounting Standards
Update (ASU) No. 2020-07: Presentation and Disclosures by Not-For-Profit Entities for
Contributed Nonfinancial Assets. This article provides a summary of the ASU.

Simplified Forgiveness Application for PPP Loans Under $50,000

The U.S. Small Business Administration, in conjunction with the U.S. Treasury Department, recently announced a simpler, more streamlined application (Form 3508S) for the forgiveness of Paycheck Protection Program (PPP) loans of $50,000 or less.

Employers Have Questions and Concerns About Deferring Employees’ Social Security Taxes

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations.