COVID-19 Resources
Our hearts go out to the individuals, businesses, and communities that have been affected by COVID-19 (coronavirus). Read the most up-to-date information on COVID-19’s effect on your business, taxes, and more.
Dean Dorton values our relationship with you, and we commit to staying connected with you and helping you through this unprecedented situation. If you have any questions, concerns or if there is anything we can do to help you at this time, please let your Dean Dorton engagement leader or Dean Dorton advisor know.
We wish you, your teams, and your loved ones all the very best.
SBA Loan Programs
The clock is ticking: When do I have to file my Paycheck Protection Program Loan forgiveness application?
The latest questions in PPP-land involve timing. When does my forgiveness application have to be filed? If I have to make principal and interest payments, when do the payments begin? Let's start with when to file your forgiveness application.
IRS issues guidance on employee Social Security tax deferral
The IRS has issued guidance on President Trump's Executive Order to defer employee Social Security taxes. We have summarized the key points of the IRS guidance below.
Main Street Lending Program is now operational
The Main Street Lending Program is now fully operational. Eligible borrowers have access to a variety of loan options depending on whether they operate a for-profit or not-for-profit entity. Find the key terms for the Program here!
PPP loans – A very brief update
New Paycheck Protection Program loan information keeps coming. We have updates on the new loan forgiveness applications and when you can expect further guidance.
Tax
Tax consequences of unemployment insurance benefits
The additional unemployment insurance payments as a result of the COVID-19 pandemic are taxable and can have a substantial impact on 2020 tax returns.
IRS issues guidance on employee Social Security tax deferral
The IRS has issued guidance on President Trump's Executive Order to defer employee Social Security taxes. We have summarized the key points of the IRS guidance below.
Did you receive a Paycheck Protection Program loan? Don’t forget about the tax implications!
By now, you have received and spent some or all of your PPP loan funds. As you focus on forgiveness, make sure you are prepared for the tax implications.
President’s Executive Order defers employee Social Security taxes – Guidance is required before implementation
On August 8, President Trump issued an Executive Order directing the Secretary of the Treasury to defer the withholding, deposit, and payment of certain employee payroll taxes. There are many questions about how the Order will be implemented. In the meantime, we have summarized what we know about the Order below.
Business
The clock is ticking: When do I have to file my Paycheck Protection Program Loan forgiveness application?
The latest questions in PPP-land involve timing. When does my forgiveness application have to be filed? If I have to make principal and interest payments, when do the payments begin? Let's start with when to file your forgiveness application.
Employee fraud in the pandemic: An employer’s response to the COVID-19 environment
The COVID-19 pandemic has impacted employee fraud in the workplace. Learn how the pandemic has strengthened the three elements of the Fraud Triangle (pressure, opportunity, and rationalization) and how your organization can fight back.
WEBINAR: Virtual or Not, The Future of Accounting is Now
Discover how you can be prepared to take on the accounting shift that’s taking place today- from virtual work, outsourcing, and financial management technology that makes working from anywhere seamless!
IRS issues guidance on employee Social Security tax deferral
The IRS has issued guidance on President Trump's Executive Order to defer employee Social Security taxes. We have summarized the key points of the IRS guidance below.
Audit & Assurance
WEBINAR: Virtual or Not, The Future of Accounting is Now
Discover how you can be prepared to take on the accounting shift that’s taking place today- from virtual work, outsourcing, and financial management technology that makes working from anywhere seamless!
WEBINAR: Newcomers to Single Audits – Provider Relief Fund Addition
Both non-for-profit and for-profit entities who have received and expended more than $750,000 in Provider Relief Funds (CFDA 93.498) within a fiscal year will be required to have a single audit completed on these funds. Our team of experts hosted a webinar on Thursday, August 13 to provide more information about the Single Audit process and walk through these new requirements
Single Audit Requirements for Provider Relief Funds
We have important information regarding single audit requirements for both non-for-profit and for-profit entities who have received and expended more than $750,000 in Provider Relief Funds through the CARES Act.
Introducing GASB Statement No. 95
In response to the ongoing COVID-19 pandemic, the Governmental Accounting Standards Board issued this month Statement No. 95, Postponement of the Effective Dates of Certain Authoritative Guidance.
Wealth & Estate Planning
Investment considerations in light of COVID-19
The effects of the COVID-19 pandemic have been significant, impacting in some way nearly every aspect of society. On the financial front, we have seen major upheaval to the economy, and we unfortunately saw a quick and steep decline in equity markets in mid-to-late March.
Wealth transfer planning strategies for the current time
While news about the pandemic and all the ways it is impacting us dominate our daily lives, those who give attention to the future may be able to find some attractive wealth transfer opportunities.
Recent Retirement Plan Changes Assist Individuals during COVID-19 Crisis
As most everyone knows by now, the $2 trillion Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or the “Act”) recently signed into law provides an extensive relief package covering var [...]
Converting a Traditional IRA to a Roth IRA – Is now the right time?
COVID-19 has taken a significant toll on the stock market in recent weeks, and many taxpayers expect their overall income to be diminished in 2020. However, for the opportunistic investor, these chal [...]
Industries
Provider Relief Funds: Post-Payment Notice of Reporting Requirements
Recipients of provider relief funds agreed to Terms & Conditions, which require compliance with reporting requirements as specified by the Secretary of Health and Human Services in program instructions. Our team of healthcare experts break down some of the requirements here!
Are skilled nursing providers leaving revenue on the table?
As if payment reform wasn't enough, a pandemic came along to add to the challenges of managing revenue in the post-acute industry. Even though COVID-19 has demanded the attention of long term care providers everywhere, make sure you make managing payer contracts and examining your charge master a priority!
How confident are you in your revenue cycle (during a Pandemic)?
Managing a health system's overall revenue cycle performance is an extremely complex task, especially during a pandemic. Does your organizations leadership have confidence in your revenue cycle management during these uncertain times?
Paycheck Protection Program (PPP) Loan Forgiveness
With hundreds of questions under our belt, we think we know the Top Ten issues currently irritating borrowers about Paycheck Protection Program (PPP) loans and their forgiveness. Here are our thoughts on the Top Ten.
COVID-19 Solutions Team
Group Team Lead
David Bundy, CPA
President & CEO
Tax Services
Melissa Hicks, CPA
Director of Tax Services
Erica Horn, CPA, JD
Associate Director of Tax Services
Maddie Schueler, JD, LLM
Senior Tax Consultant
Human Resources
Kerri Schwaner, PHR
Director of Human Resources
Payroll and Accounting Services
Justin Hubbard, CPA, CGMA
Associate Director of Accounting & Financial Outsourcing
Information Technology and Business Continuity
Jason Miller
Director of Business Consulting
Cybersecurity
Gui Cozzi
Cybersecurity Practice Lead
Accounting and Reporting Matters
John Wurtenberger, CPA
Director of Assurance Services
Corporate Financing, Structuring, and Strategy
Please contact your tax advisor for questions related to corporate financing, structuring, and strategy.
Individual Wealth Management and Business Retirement Plans
David Parks, CPA/ABV
Senior Wealth Advisor
Dean Dorton Wealth Management
Matt Parks, CPA
Wealth Advisor
Dean Dorton Wealth Management