While much attention has been paid to the federal government’s Paycheck Protection Program (PPP) loans, the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program has also been an important source of funding for small businesses during the COVID-19 pandemic. EIDL loans usually only provide assistance after natural disasters like tornadoes, wildfires or floods. But […]
How You Can Use an SBA EIDL Loan Read More »
By Jim DeLeo, CPA, MBA/MSTGray, Gray & Gray, LLP The COVID-19 pandemic and resulting economic disruption has seen unemployment rates, both nationally and locally, rise steeply. Unlike many previous economic downturns, the impact is being felt across the board, including traditionally “white collar” jobs. But certain occupations are proving to be, if not recession-proof, at
The speed at which tax relief and financial support legislation has been enacted and implemented has resulted in some confusion and “tweaks” when it comes to final execution. We have been monitoring the various programs and are happy to pass along some clarification regarding the federal Paycheck Protection Program (PPP) and Massachusetts tax relief efforts.
Further Clarification on Paycheck Protection Program and Tax Relief Read More »
As millions of Americans follow social distancing advisories by working from home, and federal and state governments rush to provide financial relief for the economic disruption, online criminals are attempting to take advantage of the situation. The Internal Revenue Service (IRS) has issued a warning that a surge of scam phone calls and email phishing
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The Small Business Administration (SBA) has released guidelines on the Paycheck Protection Program (PPP) – a key portion of the recently enacted CARES Act. The PPP has up to $349 billion available for low-interest loans to help small businesses meet payroll and overhead costs through the next few months. While applications for the PPP are
SBA Releases Guidance on Paycheck Protection Program Read More »
President Donald Trump signed into law the historic Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion stimulus package to provide economic support to both individuals and businesses during the ongoing coronavirus crisis. This massive legislation goes far beyond tax policy changes to encompass a wide range of unemployment extensions and enhancements, and
How Will the CARES Act Impact You and Your Business? Summary of Key Points Read More »
The U.S. Senate has unanimously passed the Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion relief and stimulus package to provide economic support during the ongoing coronavirus crisis. An excellent summary of the Senate’s bill prepared by the Tax Foundation can be found here. While the Senate passed the bill unanimously, the
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The unprecedented economic disruption caused by the coronavirus outbreak is putting pressure on many businesses that are experiencing closures, lost customers and reduced cash flow. Gray, Gray & Gray is available to assist businesses of all sizes as they work to cope with the challenges posed by this health and economic crisis. We are launching
Resources to Help Mitigate Coronavirus Losses in Massachusetts Read More »
As more and more people are working from home to limit exposure and the spread of the novel Covid-19 “coronavirus,” it is important that we all increase our vigilance against unscrupulous cyber criminals who are eager to take advantage of this national crisis for their own benefit. The U.S. Secret Service has issued guidance related
Cybersecurity and the Coronavirus Read More »
Canton, MA (March 16, 2020): Gray, Gray & Gray, LLP, a business advisory and accounting firm based in Canton, MA, has been ranked as the ninth largest independent accounting firm in New England by Accounting Today, the accounting industry’s leading publication. The annual rankings are based on firm revenues. Gray, Gray & Gray’s annual revenues
Accounting Today Ranks Gray, Gray, & Gray Among Top New England Accounting Firms Read More »