CORONAVIRUS (COVID-19) STATEMENT – CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

ETAX ALERTS

Guest Post: Rod Redding, Some Places to Look for Assistance in Accounting for the Coronavirus

Dr. Rod Redding received his PhD from Penn State University after working with Price Waterhouse and IBM. Presently, he presents seminars and webcasts and prepares self-study courses for Western CPE. This alert provides accounting websites, and a list of articles, that have been written about various issues related to the impact of the coronavirus on …

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Guest Post: Divorces to Surge in Post-Pandemic Era

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California, and went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally …

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Guest Post: PPP Interim Final Rule

SBA and Treasury Release Interim Final Rules on PPP Loan Forgiveness Late Friday evening, SBA and Treasury released “interim final rules” to further explain the Paycheck Protection Program (PPP) loan forgiveness process. Here are a few highlights from SBA-2020-0032 (26 pages) for borrowers and SBA-2020-0033 (19 pages) for lenders.  Loan Forgiveness Process To receive loan …

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Guest Post: FASB Extends Effective Dates for Revenue Recognition and Leases

Have you taken a class from Jeff Sailor? He’s one of our favorites and one of the funniest. For more than 10 years, Jeff has served as an AICPA peer reviewer, focusing on small firms and sole practitioners. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has …

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IRS Say PPP Loan Forgiveness Makes Expenses Not Deductible

As we struggled through the Paycheck Protection Program (PPP) loan applications this last month, something didn’t make sense in the way that the loan forgiveness worked. The recurring question we came up with was “How are expenses treated if they are paid with tax-free money?” We asked and the IRS answered. In Notice 2020-32, the …

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Employer Payroll Tax Delay Can Help Cash-Strapped Businesses

The employer’s share of Social Security Tax (but not Medicare tax) can be delayed, and paid over two years. Many business clients may not know that the deferral applies to: Self-employed individuals Recipients of PPP loans, but only until the date of PPP loan forgiveness The President is about to sign legislation to provide more …

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Guest Post: Current Expected Credit Losses (CECL) and the Virus

One of Western CPE’s most popular instructors, Jeff Sailor brings expertise and a singular flair to his coursework, designed to combat “boring CPE.” With 30 years accounting experience and more than 10 as an AICPA peer reviewer, he’s as knowledgeable as he is thoughtful about his presentation. Read more about Jeff in our Instructor Spotlight and check …

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