BGW’s nationally recognized blog showcases our expertise in tax, accounting, audit, personal finances, and small business advisory matters.

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Recent Posts

If you were engaged in Opportunity Zone investment or New Markets Tax Credit transactions but were held up due to delays caused by coronavirus, take note. The IRS and Treasury have provided relief to businesses and investors, and you can still maximize the tax benefits of these programs. Opportunity Zones Part of the 2017 Tax Cuts and Jobs Act, Opportunity Zones provide substantial tax breaks to investors who develop projects in economically distressed communities, in Read More
The Fed has announced revisions to the Main Street Lending Program that will make it possible for more small and midsize companies to receive financial support once the program opens -- hopefully this week. Among the changes announced are: Lowering the minimum loan size to $250,000 from $500,000. Increasing the maximum loan size for all three loan facilities in the program. New loans can now be as much as the lesser of $35 million (up Read More
Both houses of Congress have passed the PPP Flexibility Act of 2020, and it awaits the President’s signature, which is expected. We provide below a summary of the provisions and our initial analysis of its implications. As more SBA guidance may be issued and we gain more depth of understanding, we will continue to share updates with you. But, for now, this is really good news for you, as it will allow many more to Read More
One of the many remaining uncertainties for businesses impacted by coronavirus is whether the loss of income will be covered under their business interruption insurance policies, as such policies are often triggered only by physical damage from natural disasters. The practical reality is that the losses businesses incurred due to COVID-19 were not priced by insurance companies nor paid for by customers before the pandemic struck, so insurance companies have a legitimate case to reject Read More
In our webinars and writings, we’ve focused a lot of attention on the Paycheck Protection  Program (PPP), but it’s important to remember that it’s not the only option for relief for struggling small businesses. The Employee Retention Credit (ERC) was also part of the CARES Act and, like the PPP, was designed to keep employees on the payroll. Though the ERC doesn’t get the attention the PPP does, you shouldn’t discount it. It’s a lucrative Read More